BMFBOVESPA:BRDT3

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Petróleo Brasileiro S.A. – Petrobras reported an increase in proved oil, condensate, and natural gas reserves in 2025, underscoring the strength of its upstream portfolio despite record production during the year.

As of December 31, 2025, proved reserves under SEC standards totaled 12.1 billion barrels of oil equivalent, with oil and condensate representing 84% and natural gas 16%. During 2025, Petrobras added 1.7 billion boe of reserves, resulting in a reserve replacement rate of 175% even after a record annual production. The proved reserves-to-production ratio stood at 12.5 years.

Reserve additions were mainly driven by strong asset performance in the Santos Basin, particularly at the Búzios, Tupi, Itapu, and Mero fields, alongside progress in the Budião, Budião Noroeste, and Budião Sudeste developments in the Sergipe-Alagoas Basin. New wells in Búzios, Tupi, Marlim Sul, and Jubarte fields in the Santos and Campos basins also contributed. The company noted that reserve estimates were resilient, with no material impact from oil price variations.

Petrobras emphasized the need for continued investment in improving recovery factors of existing fields, exploring new frontiers, and diversifying its exploration portfolio in Brazil and abroad to sustain reserve replacement. More than 90% of proved reserves were independently evaluated by DeGolyer and MacNaughton. Under ANP/SPE criteria, proved reserves reached 12.5 billion boe, reflecting differences in economic assumptions and concession-term treatment compared with SEC rules.

Source: Petrobras Investor Relations
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Author
European Investor 01-29-26