The Petrobras Board of Directors approved this Thursday (21) the Business Plan 2025-2029 (PN 2025-29). The forecast is that there will be investments of US$ 111 billion in the period, with US$ 98 billion in the Portfolio of Projects under Implementation and US$ 13 billion in the Portfolio of Projects under Evaluation.
Of the total value of US$111 billion, the forecast is that US$77 billion will be invested in exploration and production, US$20 billion in refining, transport and commercialization, US$11 billion in gas and low carbon energy and US$ 3 billion on the corporate side.
According to the company, this year the plan was divided into two parts: PE 2050, which proposes reflecting on the future of the planet and how the company wants to be recognized in 2050, and PN 2025-29, with short and medium-term goals.
Petrobras’ planning estimates that energy supply during this period will increase from 4.3 exajoules (EJ) in 2022 to 6.8 EJ in 2050, which would keep the company responsible for 31% of Brazil’s primary energy supply. Petrobras also aims to neutralize its operational emissions by 2050.
The state-owned company declares that “it will focus its efforts on taking advantage of these opportunities in the oil and gas market, with a focus on replacing reserves, increasing production with a lower carbon footprint and expanding the offer of more sustainable and higher quality products in its portfolio” .
Segmentation
In the Exploration and Production (E&P) segment, around 60% should be allocated to pre-salt assets. According to the company, there are large revitalization projects (REVITs) to increase recovery factors in mature fields, especially in the Campos Basin.
In the Refining, Transport, Marketing, Petrochemical and Fertilizers (RTC) segment, the new investment forecast corresponds to an increase of 17% in relation to the previous plan. The objective is to increase the capacity of the Petrobras park, expand the supply of high-quality products, such as Diesel S10 and lubricants, and low-carbon fuels. An increase in distillation capacity is estimated from 1,813 thousand barrels per day (bpd) to 2,105 thousand bpd.
The Natural Gas and Energy (G&E) projects foresee the development of two thermoelectric plants (UTEs) at the Boaventura Energy Complex in Itaboraí (RJ), with the implementation of these projects conditional on success in future energy capacity reserve auctions.
There is an indication of investments of US$ 16.3 billion in energy transition, which take into account low carbon initiatives. They encompass projects in Low Carbon Energy, for the decarbonization of operations and Research and Development (R&D) that permeates all segments. This volume corresponds to an increase of 42% compared to the previous plan.
