Petrobras will invest over R$2.8 billion in the state of Amazonas through 2030. President Luiz Inácio Lula da Silva and CEO Magda Chambriard will announce the initiative at an official event.
The company will allocate R$2.5 billion to drill new wells in the Urucu oil and gas province. These funds will extend the life of mature fields to ensure continued natural gas and LPG production.
Urucu currently provides approximately 65% of the electricity generation for Manaus and nearby municipalities. The province also produces around 80,000 LPG cylinders daily for northern states.
The investment focuses on maintaining production from existing assets rather than exploring new pre-salt frontiers. This move aims to bolster Brazil's northern energy strategy and enhance regional security.