Presalt Brazil production lifts Petrobras’ reserves

Jan. 27, 2021
Petrobras’ proven reserves reached 8.816 Bboe by the end of 2020.

Offshore staff

RIO DE JANEIROPetrobras’ proven reserves reached 8.816 Bboe by the end of 2020, helped by strong performance from presalt Santos basin reservoirs.

Oil and condensate accounted for 86% of this figure and gas 14%.

Although the improvement was partly offset by sales of assets and the negative impact of lower oil prices, the company nevertheless achieved reserves replacement equivalent to 29% of 2020 production.

Last year’s reserves do not take into account new projects to be implemented following the company’s acquisition of the Transfer of Rights Surplus area in the Santos basin. These volumes could be factored in after Petrobras has signed participation agreements for the Búzios and Itapu fields.