Petrobras Budgets $75.7bn Capex In 5-year Strategic Plan

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.


Source: Offshore


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