Petrobras' Oil And Natural Gas Production Increases 5% To 2.9 Million Barrels In The Second Quarter Of 2025

Petrobras average production of oil, NGL and natural gas was 2.91 MMboed in 2Q25, 5.0% higher than 1Q25. This performance was mainly due to the ramp-up of FPSOs Almirante Tamandaré, in Búzios field, Maria Quitéria, in Jubarte field, Anita Garibaldi and Anna Nery, in Marlim and Voador fields, to Marechal Duque de Caxias reaching full capacity and the production start-up of FPSO Alexandre de Gusmão, both in Mero field. On the other hand, the company had higher losses due to stoppages and maintenance, besides the natural decline in production.

This quarter, Petrobras had the start-up of 14 new producing wells, 7 in Campos Basin and 7 in Santos Basin.

The FPSO Alexandre de Gusmão, the fifth platform in the Mero field, located in the Santos Basin, began its operations on May 24, ahead of the date scheduled in the current business plan, marking another significant milestone for production in the Brazilian pre-salt. Gas injection has also begun, with the start-up of the first injection well on June 25, 32 days after the unit operation start-up. The platform has the capacity to produce 180,000 barrels of oil per day, besides compressing and re-injecting 12 million m^³ of gas per day.

FPSO Marechal Duque de Caxias, whose production start-up was on October 30, 2024, in Mero field, reached its peak production of 180,000 barrels of oil per day on May 19 with just four producing wells. Altogether, the platform will have 15 wells, 8 producers and 7 water and gas injection wells.

Platform P-78 left the shipyard in Singapore on July 13 and it is in transit to Brazil. It is scheduled to start-up production in the second semester. An FPSO (Floating, Production, Storage, and Offloading oil production system), the platform is the seventh unit to be installed in Búzios field, in Santos Basin pre-salt, and will be towed to the location with crew already on board, which will allow the production start-up to be anticipated by roughly two weeks. Its production capacity will be 180,000 barrels of oil per day, in addition to compressing up to 7.2 million m^³ of gas per day.

This quarter Petrobras achieved some production records:

• Total operated production in 2Q25: 4.19 MMboed (previous record of 4.05 MMboed in 4Q23)
• Total own pre-salt production in 2Q25: 2.39 MMboed (previous record of 2.33 MMboed in 4Q23)
• The platforms in Mero field surpassed the operated production mark of 600,000 bpd of oil on July 6th

REPLAN's new HDT is another important milestone for Petrobras. With the start-up of this unit on May 27, Paulínia Refinery increased its production capacity for S-10 diesel by up to 63 mbpd and jet fuel by up to 21 mbpd. This expansion contributes to the phase-out of S-500 diesel, enabling the full conversion of REPLAN's diesel production to S-10. In addition, the conversion improves the facility's energy efficiency and reduces emissions of sulphur compounds (SOx) by the fleet.

In the Refining, Transportation and Marketing segment, sales of oil products on the domestic market in 2Q25 were 1% higher than 1Q25, and higher sales of LPG, gasoline and naphtha were the highlights. Production of oil products in 2Q25 was 1,730 mbpd, 1.4% higher than the volume produced in 1Q25, mainly due to diesel production of 680 mbpd, 2.4% higher than 1Q25. REVAP set a quarterly record for S-10 diesel production in 2Q25, with 44 mbpd, and REPAR set a record for gasoline production in the first half of 2025, averaging 65 mbpd.

Petrobras kept a high yield in the production of middle distillates (diesel and jet fuel) and gasoline, which accounted for 68% of the total volume of oil products in 2Q25, despite major scheduled shutdowns at REPLAN and REFAP. The company emphasizes that scheduled shutdowns guarantee the integrity of the equipment and safety of people, increase efficiency and profitability and facilitate the implementation of new projects.

Petrobras set a new record for pre-salt oil processing in 1H25, of 72%, outperforming the previous one of 68% in 1H24. The significant share of pre-salt oils in the refinery throughput once again demonstrates our commitment to generate higher value-added oil products and reduce atmospheric emissions, characteristics of these oils.

Through Petrobras Singapore, the company partnered with Vale to supply the bulk carrier Luise Oldendorff with Very Low Sulfur (VLS) B24 marine fuel, consisting of 24% of second-generation biodiesel (UCOME), produced from used cooking oil, and 76% of fossil fuel oil from Petrobras refineries. Petrobras Singapore has ISCC EU certification, which ensures that the product meets strict sustainability criteria throughout the biofuel supply chain. The biobunker test, carried out in April, advances the strategic partnership between Petrobras and Vale, wich aims to supply of products focused on competitiveness and advance the decarbonization agenda.

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