Petrobras expects to add c.500,000bl/d oe to its portfolio over the next five years
Pre-salt fuelling Petrobras’ upstream ambitions
The offshore region is poised to significantly ramp up production as more midstream gas infrastructure reaches startup and divestments keep coming
Brazilian state oil firm Petrobras has big plans for the pre-salt, according to the company’s latest five-year strategy document. The NOC expects to produce 20bn bl oe over the next ten years—with the pre-salt region producing 79pc of supply by 2026—almost as much as the previous 68 years of its history combined. E&P is at the core of Petrobras’ near-term strategy. It will funnel 84pc of capex into the upstream over the next five years, while spending 63pc of that amount on the pre-salt. Barrels produced from the region will drive a 19pc jump in company production by 2026, with Petrobras guiding 3.2mn bl/d. The company’s offshore Buzios field, in the Santos basin, is key to this gr
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
