published by
Jack Roscoe,
Editorial assistant
Oilfield Technology,
Petrobras is the company in the global oil and gas market with the largest growth in investment. In 2023, the company practically doubled its investment effort, totaling $21.4 billion between direct investments and assets linked to the rental of production units, compared to an amount of $10.9 billion in 2022.
“Petrobras has projects capable of generating significant returns and securing the future of the company. They invest responsibly, focusing on capital discipline and committing to keeping debt under control,” highlighted Petrobras Director of Finance and Investor Relations, Sergio Caetano Leite.
Investments are made mainly with Petrobras’ own resources generated by its operations. The company’s gross debt remains limited to $65 billion, a level considered healthy for companies of Petrobras’ segment and size.
With these investments, Petrobras began production of four systems in 2023: the Anna Nery and Anita Garibaldi FPSO – Marlim and Voador revitalization projects – the Almirante Barroso FPSO in Búzios – reaching its design capacity in less than five months – and the FPSO Sepetiba, in the Méro field. These systems helped the company exceed 2022 production by 3.7%, reaching 2.78 million boe/d in 2023. This ability to simultaneously implement ultra-deepwater production systems in the same year places the company at a leading position in the global industry.
Although oil is still needed to meet global energy demand, Petrobras has focused on decarbonization and low-carbon energy projects, building the energy transition process in an equitable, progressive and inclusive manner. Petrobras’ strategic plan for the five-year period 2024-2028 (PE 2024-28+) foresees investments of approximately US$102 billion over the next five years, an increase of 31% compared to the previous cycle. With this increase in investments, the company estimates the creation of 280,000 direct and indirect jobs per year.
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Upstream news from Brazil
Oil and gas news