Reports related to this article:
Project(s): View 1 related project in PECWeb
Plant(s): View 1 related plant in PECWeb
Released November 11, 2025 | SUGAR LAND
en
Written by Eric Funderburk for Industrial Info Resources (Sugar Land Texas)
Petrobras (Rio de Janeiro, Brazil) reported total capital investments of US$5.5 billion in Q325, bringing the total to US$14 billion from January through September. For Q4, the company expects to invest another US$4.5 billion, according to its 2025-29 strategic plan.
Exploration and production projects accounted for 84.8% of the investments in Q3, with the largest share going to the Buzios oil field with US$1.7 billion, which recently surpassed production of 1 million barrels of oil per day (BBL/d).
In the quarter, Petrobras spent US$1.17 billion drilling 20 wells and completing 10, with another US$1.21 billion spent in 23 interconnections and six pre-lay activities at the Buzios 6 floating production, storage and offloading vessel (FPSO). Another US$1.4 billion was invested in developing the Buzios 6 and Sepia 2 platforms.
In exploration, the company spent US$478 million in the quarter. Searching for new reserves will be a key focus for the company in the years to come, thanks to the new acquisition of the Jaspe and Citrino blocks in Brazil. More importantly, the recent environmental license granted to Petrobras for the exploration of the Foz Do Amazonas block, located at the mouth of the Amazon River in the state of Para, will be a major focus for the company after years of waiting to commence operations in the area.
Investments destined for exploration and production for this year have been set at US$15.1 billion.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the related project reports.
Additionally, Petrobras signed five contracts to develop infrastructure to expand the production of S10 diesel by 76,000 BBL/d and jet fuel by 20,000 BBL/d at the Boaventura complex in Brazil. (See project reports.)
Overall for this year, the company projects investments of US$2.2 billion in its downstream segment.
For 2028, the company expects to disburse the largest investments of US$20.9 billion, of which US$4.2 billion will be allocated to refining, transformation, and marketing.
Key Takeaways
About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Summary
Petrobras' capital investments in Q3 totaled US$5.5 billion, with exploration and production projects accounting for 84.8% of the total. Investments into Brazil's Buzios field, the nation's largest, amounted to US$1.7 billion. About 11% of the capex was spent in midstream and downstream projects.Petrobras (Rio de Janeiro, Brazil) reported total capital investments of US$5.5 billion in Q325, bringing the total to US$14 billion from January through September. For Q4, the company expects to invest another US$4.5 billion, according to its 2025-29 strategic plan.
Exploration and production projects accounted for 84.8% of the investments in Q3, with the largest share going to the Buzios oil field with US$1.7 billion, which recently surpassed production of 1 million barrels of oil per day (BBL/d).
In the quarter, Petrobras spent US$1.17 billion drilling 20 wells and completing 10, with another US$1.21 billion spent in 23 interconnections and six pre-lay activities at the Buzios 6 floating production, storage and offloading vessel (FPSO). Another US$1.4 billion was invested in developing the Buzios 6 and Sepia 2 platforms.
In exploration, the company spent US$478 million in the quarter. Searching for new reserves will be a key focus for the company in the years to come, thanks to the new acquisition of the Jaspe and Citrino blocks in Brazil. More importantly, the recent environmental license granted to Petrobras for the exploration of the Foz Do Amazonas block, located at the mouth of the Amazon River in the state of Para, will be a major focus for the company after years of waiting to commence operations in the area.
Investments destined for exploration and production for this year have been set at US$15.1 billion.
Refining Transportation and Marketing
Besides its efforts to boost production and find new resources, Petrobras spent US$605 million in its downstream sector. During Q3, the company signed all 9 contracts to complete Train 2 of its 130,000 BBL/d Abreu e Lima refinery. When the project is completed, the refinery will double its processing capacity to 260,000 BBL/d by 2029.Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the related project reports.
Additionally, Petrobras signed five contracts to develop infrastructure to expand the production of S10 diesel by 76,000 BBL/d and jet fuel by 20,000 BBL/d at the Boaventura complex in Brazil. (See project reports.)
Overall for this year, the company projects investments of US$2.2 billion in its downstream segment.
Capex for This Decade
This year is projected to be the year with the lowest capital expenditures (capex) until 2029. For 2026 and 2027, Petrobras expects to invest US$19.6 billion and US$19.5 billion, respectively, with exploration and production accounting for 78% of the total.For 2028, the company expects to disburse the largest investments of US$20.9 billion, of which US$4.2 billion will be allocated to refining, transformation, and marketing.
Key Takeaways
- Petrobras reported total capital investments of US$5.5 billion in Q3, bringing the total to US$14 billion from January through September.
- Petrobras spent US$605 million in its downstream sector following the singing of all nine contracts for the construction of RNEST Train 2.
- For 2028, the company expects to disburse the largest investments of US$20.9 billion, of which US$4.2 billion will be allocated to refining, transformation and marketing.
About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
