In a strategic move to bolster its exploration portfolio, Petrobras has successfully acquired 29 blocks in the Pelotas basin during the fourth Permanent Concession Offer Cycle led by the National Agency of Petroleum, Natural Gas, and Biofuels (ANP).

The acquisition includes partnership ventures with industry leaders CNOOC Petroleum Brasil and Shell Brasil Petróleo. For blocks P-M-1739, P-M-1737, and P-M-1797, Petrobras will operate with a 50% stake, in collaboration with Shell (30%) and CNOOC (20%).

The signing bonus for these and other acquisitions amounts to R$116 million, representing less than 1% of the approved investments outlined in the 2024-2028 Strategic Plan, already accounted for in the company's financial forecast.

Petrobras pursued a selective approach in the auction, aligning with its strategy to fortify the exploration portfolio through new frontiers displaying geological potential. Presently, almost 80% of Petrobras' production concentrates in the pre-salt, a key asset known for delivering high-quality oil with reduced greenhouse gas emissions.

These 29 newly acquired blocks significantly expand Petrobras' existing portfolio of 47 blocks, contributing over 20,000 square kilometers to the current holding of approximately 30,000 square kilometers.

Jean Paul Prates, Petrobras CEO, emphasized the vital role of exploring new frontiers to meet growing energy demand. He stated, "New frontiers, such as the blocks acquired today, are essential for energy demand to be met. For this reason, we seek to replenish reserves and develop new exploratory frontiers that ensure that we meet energy demand during the energy transition with the lowest possible carbon footprint."