Petrobras (NYSE: PBR) has published a 2026–2030 Business Plan, under this plan the company expects to invest US$109 billion over five years, including US$69.2 billion in Exploration and Production projects in its target implementation portfolio. The plan allocates approximately US$7.1 billion specifically to exploration.
For the time being, the company is not losing time, making two new announcements in the pre-salt fields in southeast Brazil and another gas discovery in Colombia.
Announced on April 13th, the company detected hydrocarbons in well 1-BRSA-1404DC-RJS, located 201 km from the coast of Rio de Janeiro state at a depth of 2,984 meters below sea level. This discovery is part of block C-M-477, which has a 30% share from British Petroleum (BP) and 70% from Petrobras.
Prior to this announcement, on March 26th, the company also announced a more relevant discovery in another pre-salt field, this time in the Marlim Sul field, also in the Campos Basin. Classified as “high-quality oil,” it is located in well 3-BRSA-1397-RJS, 113 km from the coast of the city of Campos dos Goytacazes-RJ, at a depth of 1,178 meters. Petrobras holds a 100% share in this field.
Both of these discoveries comply with the 2026-2030 strategy, which relies on using the currently highly profitable Campos Basin to invest in new fields in northern Brazil and overseas.
Gas discovery in Colombia
Edited 03/08/26
In April, Petrobras (NYSE: PBR) announced a supplementary gas discovery in the Caribbean within an already operational block shared with Colombian state-owned company Ecopetrol (NYSE: EC), where Petrobras holds a 44.44% stake.
The initial find at the Copoazu-1 well, located at a water depth of 964 meters, sits just 8 kilometers from the operational Sirius-1 and Sirius-2 wells. This early success highlighted the region’s viability and set the stage for continuous exploration in Colombia's offshore frontiers.
In early August, the company has now announced a second find at the Sandia-1 well within the same GUA-OFF-0 block. This marks Petrobras’s second gas discovery in Colombia in 2026.
Together, these discoveries demonstrate the immense potential of the Colombian fields and reinforce the value of Petrobras’s long-term engagement and exploration strategy in the region.
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COP → BRL
