Petrobras Plans to Invest $102 Billion Between 2024 and 2028, Expanding Investment Plan.

Written by Paulo Nogueira

Published on 23/11/2023 at 19:42

Edifício-sede da Petrobras (Edise), na avenida Chile, no Rio de Janeiro (Foto: Fernando Frazão/Agência Brasil)

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The Amount Represents an Increase of 31% Compared to the Previous Forecast (2023-2027).

On Thursday (11/23), the board of directors of Petrobras approved the company’s new business plan, which outlines investments of US$ 102 billion for the period of 2024-2028. This amount represents a 31% increase compared to the previous plan (2023-2027).

The exploration and production sector will continue to be the main recipient of the investments, with a budget of US$ 73 billion, which represents 71.5% of the total.

The first plan under the management of Jean Paul Prates and the Lula government includes a total investment of US$ 102 billion. Of this amount, US$ 91 billion is allocated for projects in the implementation phase, while US$ 11 billion is destined for projects in the evaluation phase, which are subject to additional feasibility studies before contracting and execution begin.

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Projects in Evaluation and Investments for the Future of Petrobras

After the completion of studies and the confirmation of economic viability, projects in the evaluation phase may be transferred to the implementation portfolio, according to the company.

Petrobras emphasized that the announced investments aim to prepare the company for the future, strengthening it and initiating a process of energy source integration, essential for a fair and responsible energy transition.

The explanation provided by Petrobras for the increase in investments is primarily related to new projects underway, including potential acquisitions. Additionally, the company justified that assets that were in the divestment process have returned to the investment portfolio. Another factor mentioned was cost inflation along the supply chain.

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Source: Agência EPBR

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Petrobras Plans to Invest $102 Billion Between 2024 and 2028, Expanding Investment Plan.

The Amount Represents an Increase of 31% Compared to the Previous Forecast (2023-2027).

Projects in Evaluation and Investments for the Future of Petrobras

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The Amount Represents an Increase of 31% Compared to the Previous Forecast (2023-2027).

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