In a webinar organized by BNCC and NBCC on September 4, 2020, Petrobras CFO Andrea Almeida shared her vision of Petrobras of the future.
To be ready for the future Petrobras is focusing on strengthening partnerships, optimizing the portfolio with world class assets, deleveraging to ensure sustainable growth and preparing the company for a low carbon future and digital transformation.
Breaking records
The company has full focus on pre-salt assets with great development potential. The pre-salt and gas production was 65 percent of the total production in the first half of 2020.
“We continue to break production records, and Búzios is the giant of the pre-salt and the most valuable asset for Petrobras”
In her presentation, Ms. Almeida also talked about the debt profile and actions taken to strengthen the financial position of the company.
“Divestments continue moving forward. We had a total of US$ 16,3 billion in asset sale in 2019, and a total cash inflow of US$ 1 billion in 2020”, it says in the presentation to the BNCC/NBCC webinar.
Andrea Almeida also addressed refining and the new gas market in her presentation. Petrobras refining capacity will be reduced by 50 percent, and digitalization will play an important role moving forward.
Partnerships
Petrobras currently has 12 exploration and production assets in partnership with Equinor, and increased recovery and higher efficiency with lower emissions is a focus of the partnership. The two companies have also signed and MOU on offshore wind development in Brazil.
Petrobras also has close to 50 Norwegian companies among its suppliers, and research agreement with several Norwegian institutions like RCN, NORCE and NTNU.
Low cost and low carbon
The main focus of the company is still on oil and the path towards a low carbon future is being defined. Investment opportunities in both solar and Aeolic are being evaluated.
Oil & Gas Climate Initiatives is a group led by the main oil and gas companies in the world that intends to conduct an industry response to climate change, with collaboration in actions to reduce greenhouse gas emissions.
The members of the OGCI undertake to invest, in conjunction, more than US$ 1 billion, in the next ten years. Petrobras joined OGCI in 2018 with the promise of an investment of US$ 100 million.
Petrobras has also defined 10 sustainability commitments, like zero growth in absolute operating emissions until 2025 and investments in carbon capture and storage.
The webinar was recorded and the recording is available to NBCC members. Contact communication@nbcc.com.br
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