RIO DE JANEIRO, BRAZIL – Petrobras (PETR3;PETR4) set a new annual production record in the pre-salt in 2021, reaching 1.95 million boed. This output represents 70% of the company’s total production last year, which amounted to 2.77 million boed.
The previous record was set in 2020, when 1.86 million boed was reached, representing 66% of Petrobras’ total production.
The previous record was set in 2020, with 1.86 million barrels of equivalent oil per day (boed).
The state-owned company said that production in the pre-salt has been rapidly growing, and the record set in 2021 represents more than double the volume it produced in the region 5 years ago.
“With the maintenance of the focus of its activities in deepwater and ultra-deepwater assets, Petrobras will continue to invest in accelerating the development of the highly productive pre-salt fields, more resilient to low oil prices and more carbon efficient,” the company said in a statement.
In its 2022-26 Strategic Plan, the company foresees investments of US$57 billion in the Exploration and Production (E&P) segment, 67% of which in the pre-salt, which will be assigned 12 of the 15 new platforms scheduled to start operating in this period and should account for 79% of the company’s total output in 2026.
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Petroleo Brasileiro Petrobras
NYSE: PBRPETR4EnergyOil & Gas Integrated43,199 employees
$159.11B
Market cap
Analyst target $23.31
Wall Street view
4.4Buy/ 5
11 Buy3 Hold0 Sell
Avg. price target $23.31 · +29% vs 200-day
Valuation & profitability
Market cap$159.11B
Revenue (TTM)$548.49B
P / E ratio6.2
Profit margin24.3%
Return on equity30.3%
Price & risk
52-wk low $10.6552-wk high $25.60
Beta (volatility)-0.23
200-day average$18.06
Revenue trend · 6y
20202025
Latest $88.10B
Ownership
Institutions22.4%
Shares outstanding3.72B
Top holderGQG Partners LLC
Institutional holders5+ funds
Dividend
Yield15.3%
Payout ratio28.3%
Fwd. annual$1.68
What Petroleo Brasileiro Petrobras does. Petróleo Brasileiro S.A. – Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and Production segment explores, develops, and produces…
