Rio de Janeiro — Brazil’s state-controlled energy company Petrobras may expand drilling activity in the Foz do Amazonas basin, adding up to three new wells beyond the first exploration well currently underway, Chief Executive Magda Chambriard said on 28 October 2025 at the Offshore Technology Conference (OTC) Brazil.
According to Chambriard, the decision to proceed with the additional wells will depend on the results of the initial one, which is scheduled for completion within five months.
“These are contingent wells,” she explained, noting that Petrobras will continue to evaluate geological and operational results before confirming the next drilling steps.
Exploration Focus and Strategic Frontiers
Chambriard emphasized that Petrobras remains committed to exploring new offshore frontiers, including Brazil’s Equatorial Margin, which encompasses the mouth of the Amazon River, and the Pelotas Basin in the state of Rio Grande do Sul.
“There is no future for an oil company without exploration,” she said, highlighting that domestic energy access and supply security must remain a national priority.
When addressing Brazil’s position in the global energy transition, Chambriard referred to Petrobras’ long-standing role in advancing biofuels within the country. She stated that Petrobras must grow in alignment with Brazil’s increasing energy needs.
Currently, Petrobras supplies 31% of the energy consumed in Brazil, and Chambriard projected that the company would maintain at least this share by 2050, even as overall national demand rises. That level of output would represent an approximate 60% increase in Petrobras’ total production capacity compared to today.
Energy Transition Approach
The CEO described Petrobras’ approach to the energy transition as gradual and technology-driven.
“In the first 10 years, with more molecules. From then on, introducing more electrons,” she said, referring to the progressive shift from hydrocarbons toward electrification.
She reiterated that Petrobras would comply fully with the Paris Agreement and continue investing in research and development to curb emissions.
“The energy transition will be economical, based on research, development, and the commitment of Petrobras’ technical teams,” Chambriard said.
Operational Milestone in Búzios
Chambriard also highlighted recent performance in the Búzios field, where the Almeida de Tamandaré FPSO reached 282,000 barrels per day (b/d), surpassing its initial design capacity of 225,000 b/d.
“This is an achievement for Petrobras and its suppliers, particularly at a time when oil prices are falling,” she commented.
However, Chambriard cautioned against setting overly ambitious targets.
“I’m not going to promise 2 million barrels per day. I’ll say that this field will approach 2 million, and then we’ll have to wait,” she noted, referring to the ongoing development of new platforms — P-78, P-79, P-82, P-84, and P-85 — which are in various stages of construction and commissioning.
International Outlook
Turning to the company’s overseas operations, Chambriard said Petrobras’ expansion along the Equatorial Margin would not delay its exploration efforts in Africa.
“Absolutely not,” she said, confirming that Petrobras is evaluating opportunities in Namibia in partnership with Galp. “We’re studying them; I won’t anticipate any details,” she added.
Finally, Chambriard confirmed that Petrobras’ updated strategic plan will be released on 27 November 2025.
