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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

Oil and Gas

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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Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

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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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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Brazil filled the Northeast with wind turbines but now faces the side effect of 705 giant blades reaching the end of their lifespan by 2032 just in Rio Grande do Norte, while the world projects 43 million tons of waste by 2050.

India approved the country’s first submerged road-rail tunnel, 15.8 kilometers dug under the bed of the Brahmaputra River.

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10 giant tortoises are reintroduced and, in just 6 months, trigger changes that lead scientists to investigate a phenomenon absent for 180 years; the numbers recorded on the island impress researchers from around the world.

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