Petrobras intends to invest US$ 2.8 billion in decarbonization over the next 5 years

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The president of Petrobras, Caio Paes de Andrade, said at the opening of Rio Oil & Gas that the company intends to invest US$ 2.8 billion in actions to mitigate carbon emissions over the next five years.

Paes de Andrade, who is being treated for a carcinoma, spoke via video.

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At the opening of the fair, he is represented by the director of Exploration and Production at the state-owned company, Fernando Borges.

Paes de Andrade stated that Petrobras’ focus is still on the pre-salt layer, which he defined as the “most valuable asset of the company and one of the most important oil provinces in the world”.

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At the same time, however, he stated that the company seeks to develop new exploration frontiers, in which he mentioned the Equatorial Margin, on the coast of the Northeast and North of Brazil.

The executive said that, today, Petrobras prioritizes investments in decarbonization and the development of biofuels, such as renewable diesel and aviation biokerosene.

Of the US$ 2.8 billion planned for this purpose, US$ 248 million will be allocated to a fund focused on low carbon solutions.

Source: CNN Brasil

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