Petrobras Sees 11% Production Growth, Allocates 60% Capex to Pre-Salt Projects
Petrobras' pre-salt assets drove an 11% production increase in 2025 and accounted for 82% of output, with Q4 volumes at 2.1 thousand barrels despite Santos Basin maintenance. Petrobras is allocating nearly 60% of production capex to pre-salt assets, planning new systems by 2029 while breakevens remain below $40 per barrel.
1. Pre-Salt Production Performance
Petrobras' pre-salt assets delivered an 11% production increase in 2025, contributing 82% of the company’s total output. In the fourth quarter of 2025, pre-salt volumes held at 2.1 thousand barrels per day despite maintenance downtime in the Santos Basin, with new FPSOs and well start-ups offsetting disruptions.
2. Economics and Breakeven Costs
Pre-salt projects maintain breakeven costs below $40 per barrel, supported by light, low-sulfur crude that cuts refining expenses and emissions. Large fields such as Búzios and Mero leverage economies of scale, ensuring resilient profitability even during periods of oil price volatility.
3. Future Capex and Projects
Petrobras plans to dedicate nearly 60% of its production capex to pre-salt assets through 2029, including the ramp-up of Alexandre de Gusmão and additional FPSO systems. This strategic focus on low-cost reserves aims to sustain long-term production growth and robust cash flow generation.