Petrobras Debates Exploration And Production Opportunities In Latin America During CERAWeek

Director of Exploration and Production, Joelson Mendes, highlighted the quality of the company's portfolio and the reduction in well costs

The director of Exploration and Production (E&P) at Petrobras, Joelson Mendes, highlighted, this Tuesday (19/3) the resilience and competitiveness of the company's portfolio of E&P areas due to the more efficient production profile and the technological solutions developed to reduce emissions.

Joelson participated in the “Global Competitiveness of Latin American Upstream” panel at CERAWeek, in Houston, United States. The panel brought together representatives of the energy industry in Latin America, who recognize Brazil as the most promising area for investment in the region.

The executive highlighted that the company has once again invested in the exploration of new areas and that the new technologies adopted have made it possible to substantially reduce the cost of wells compared to the beginning of pre-salt exploration, around 15 years ago. “The history of Petrobras comes from exploration. We have no history of acquiring areas. We have internal programs that have allowed us to increase our discovery possibilities and reduce well costs”, commented Joelson.

The company's forecast is to invest US$7.5B over the next five years in prospecting and exploring oil and gas in areas, for example, in the Santos Basin, Pelotas Basin and Equatorial Margin. The director also announced that Petrobras intends to drill two exploratory wells in Colombia (Tayrona) and highlighted the development of the area in deep waters in Sergipe, in Northeast Brazil.

The company has also been investing in digital technologies for reservoir characterization. In this sense, it estimates investing around US$4B to acquire high-resolution seismic data by 2028.