Petrobras board has approved the company’s five-year Strategic Plan for 2020-2024.
Forecast capex during this period is $75.7 billion, of which 85percent will be allocated to E&P. Much of the focus will be on the presalt interests offshore southeast Brazil.
At the same time the board is targeting divestments in the range $20-30 billion, mostly 2020-21.
Over the five-year period, the company expects to start up 13 new production systems, all on deepwater and ultra-deepwater fields.