Equatorial Margin to Receive Largest Share of Petrobras’ Exploration Investments, with 15 New Wells

Nov. 28 – The company’s new strategic plan for the period between 2026 and 2030 reveals a paradigm shift in the search for new reserves. Although the pre-salt layer will continue to receive a significant amount of investment, the Equatorial Margin will receive the largest share of the state-owned company’s resources over the next five years. In total, Petrobras’ exploration investment during this period will be US$7.1 billion, with US$2.5 billion for the Equatorial Margin, US$2.2 billion for the Southern and Southeastern Margins, and US$2.4 billion for onshore basins and new exploratory assets abroad.

Petrobras intends to drill 40 new wells by 2030, with 15 of them in the Equatorial Margin. The company is currently drilling the Morpho well in block FZA-M-059, in the Foz do Amazonas Basin. This is the first of a commitment to drill 8 wells in Amapá Águas Profundas.

In addition, besides the two discoveries already made in the Potiguar Basin (Pitu Oeste and Anhangá), the next step will be the drilling of the Mãe de Ouro well, in block POT-M-762.

In the Southeast Margin, Petrobras plans 11 wells, 6 in the Santos Basin and five in the Campos Basin. The company should drill the exploratory well adjacent to the Marlim Sul production asset, aiming at operational synergies. The company will also evaluate the exploratory potential of the Campos Basin in the Citrino, Norte de Brava, C-M-477 and Jaspe blocks. Finally, the state-owned company also plans formation and drilling tests in Aram, in the Santos Basin.

In parallel, Petrobras maintains projects aimed at increasing gas availability and dedicates special attention to mature assets, with the objective of evaluating the possibilities of extending the productive life of these assets and their production systems and, as a last resort, initiating decommissioning activities, following best sustainability practices in the disposal of assets at the end of their life cycle. The sustainable disposal of equipment and the abandonment of wells will require expenditures of US$ 9.7 billion over the next five years.

In its 2026-2030 Business Plan, Petrobras projects reaching a peak oil production of 2.7 million barrels per day in 2028 and a peak total production of 3.4 million barrels of oil and gas equivalent per day (boed) in 2028 and 2029.