Proved Reserves
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Proved Reserves SEC
Net Prove Reserves – SEC
2024
2023
2022
2021
2020
Crude Oil and NGL (MMbbl)
Brazil
9,634.1
9,210.4
8,908.0
8,416.7
7,533.9
International
15.1
17.8
18.0
18.7
18.4
Africa
0
0
0
0
0
South America
1.8
1.7
1.8
1.9
0.3
North America
13.3
16.1
16.2
16.8
18.1
Total Crude Oil and NGL (MMbbl)
9,649.2
9,228.3
8,926.0
8,435.4
7,552.3
Natural Gas (Bcf)
Brazil
9,581.5
9,335.2
9,087.8
8,473
7,546.7
International
170.5
169.1
178.7
184.1
33.4
Africa
0
0
0
0
0
South America
168.5
162.5
173.1
177
25.6
North America
2.1
6.5
5.7
7.1
7.8
Total Natural Gas (Bcf)
9,752.1
9,504.3
9,266.5
8,657.1
7,580.1
Crude Oil, NGL and Natural Gas (MMboe)
Total Brazil
11,340.6
10,873.1
10,422.7
9,828.9
8,791.7
International
45.5
47.9
47.8
49.4
24
Africa
0
0
0
0
0
South America
31.8
30.6
30.7
31.3
4.6
North America
13.6
17.3
17.1
18
19.4
Total Crude Oil, NGL and Natural Gas (MMboe)
11,386.1
10,921.0
10,470.5
9,878.2
8,815.7
Download the complete history of Proved Reserves SEC
1 - In 2023, we standardized the conversion between gas and oil equivalent to 5,614.65 ft3 = 1 boe, which is equivalent to the conversion used in contracts in Brazil. Quantities from previous years are using the previus conversion of 6,000 ft3 = 1 boe
Proved Reserves ANP/SPE
Net Prove Reserves – SPE
2024
2023
2022
2021
2020
Crude Oil and NGL (MMbbl)
Total Brazil
9,778.5
9,311.6
9,029.8
8,624.8
7,889.8
International
15.2
17.9
18.1
18.8
19.5
Africa
0
0
0
0
0
South America
1.9
1.8
1.9
1.9
1.4
North America
13.3
16.1
16.2
16.8
18.1
Total Crude Oil and NGL (MMbbl)
9,793.6
9,329.5
9,047.9
8,643.6
7,909.3
Natural Gas (Bcf)
Brazil
10,329.4
9,854.4
9,469.1
9,695
8,897
International
178.6
179.8
182.0
192.2
207.3
Africa
0
0
0
0
0
South America
176.5
173.2
176.3
185.1
199.5
North America
2.1
6.5
5.7
7.1
7.8
Total Gás Natural (Bcf)
10,508.0
10,034.2
9,651.1
9,887.2
9,104.3
Total Natural Gas (Bcf)
Brazil
11,618.2
11,066.7
10,608
10,240.6
9,372.6
International
47.0
49.9
48.4
50.8
54
Africa
0
0
0
0
0
South America
33.3
32.6
31.3
32.8
34.6
North America
13.6
17.3
17.1
18.0
19.4
Total Crude Oil, NGL and Natural Gas (MMboe)
11,665.2
11,116.7
10,656.4
10,291.4
9,426.7
Download the complete history of Proved Reserves ANP/SPE
1 - Data based on the SPE reserve estimation criterion, which was implemented from 1998 onwards.
2 - For the years before 1998, a conversion rule was prepared, respecting the classification of reserves previously used by Petrobras. The previous code placed more emphasis on the volumetric aspect (certainty in the existence of volumes) than in the economic aspect (certainty in the economy of the reserve), presenting greater detail in the classification of the volumes of the proven reserves.
3 - The amounts presented by Petrobras refer only to its interests in the concessions, that is, the reserve volume corresponding to the percentage of participation, signed in a contract, with the other partners in a given production concession.
4 - As of 2015, with the change of the ANP regulations, the volumes of oil and synthetic gas of Shale are included in the volumes of the National Reserve.
5 - In 2023, we standardized the conversion between gas and oil equivalent to 5,614.65 ft3 = 1 boe, which is equivalent to the conversion used in contracts in Brazil. Quantities from previous years are using the previus conversion of 6,000 ft3 = 1 boe
National Historical Proved Reserves of Crude Oil, NGL and Natural Gas
National Historical Proved Reserves of Crude Oil, Stabilized Condensate
and Natural Gas – ANP/SPE Criteria
2024
2023
2022
2021
2020
Crude Oil (million bbl)
9672.63
9,204.2
9,013.79
8,607.96
7,872.49
Crude Oil and Stabilized Condensate (million bbl)
9778.47
9,311.6
9,029.80
8,624.81
7,889.82
Crude Oil and Stabilized Condensate (million m³)
1554.66
1,480.4
1,435.63
1,371.24
1,254.34
Natural Gas (million boe)
1839.73
1,755.1
1,578.18
1,615.83
1,482.83
Natural Gas (million m³)
292493.65
279,044.1
250,910.27
256,897.49
235,743.81
Crude Oil, Stabilized Condensate and Natural Gas (million boe)
11618.2
11,066.7
10,607.98
10,240.64
9,372.64
Crude Oil, Stabilized Condensate and Natural Gas (million m³)
1847.15
1,759.5
1,686.54
1,628.13
1,490.09
Download the complete history of National Historical Proved Reserves of Crude Oil, NGL and Natural Gas
1 - Data based on the SPE (Society of Petroleum Engineers) criterion for estimating reserves, wich was implemented from 1998 onwards.
2 - "For years prior to 1998, a conversion rule was used, in line with the reserves classification method formerly adopted by Petrobras. The code used previously placed greater emphasis on volume (the certainty of the existence of volumes) rather than economic (certainty of the economic viability of the reserve) aspects, with greater detail in the classification of volume of proven reserves.
3 - The values shown by Petrobras report only to its interest in the concessions, that is the volume of the reserves corresponding to the percentage participation contractually established together with the other partners in a given production concession.
4 - From 2015, with the change of regulation of ANP, includes the volumes of oil and gas Shale in synthetic volumes of national reserve.
Proved Reserves SEC
| Net Prove Reserves – SEC | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Crude Oil and NGL (MMbbl) | |||||
| Brazil | 9,634.1 | 9,210.4 | 8,908.0 | 8,416.7 | 7,533.9 |
| International | 15.1 | 17.8 | 18.0 | 18.7 | 18.4 |
| Africa | 0 | 0 | 0 | 0 | 0 |
| South America | 1.8 | 1.7 | 1.8 | 1.9 | 0.3 |
| North America | 13.3 | 16.1 | 16.2 | 16.8 | 18.1 |
| Total Crude Oil and NGL (MMbbl) | 9,649.2 | 9,228.3 | 8,926.0 | 8,435.4 | 7,552.3 |
| Natural Gas (Bcf) | |||||
| Brazil | 9,581.5 | 9,335.2 | 9,087.8 | 8,473 | 7,546.7 |
| International | 170.5 | 169.1 | 178.7 | 184.1 | 33.4 |
| Africa | 0 | 0 | 0 | 0 | 0 |
| South America | 168.5 | 162.5 | 173.1 | 177 | 25.6 |
| North America | 2.1 | 6.5 | 5.7 | 7.1 | 7.8 |
| Total Natural Gas (Bcf) | 9,752.1 | 9,504.3 | 9,266.5 | 8,657.1 | 7,580.1 |
| Crude Oil, NGL and Natural Gas (MMboe) | |||||
| Total Brazil | 11,340.6 | 10,873.1 | 10,422.7 | 9,828.9 | 8,791.7 |
| International | 45.5 | 47.9 | 47.8 | 49.4 | 24 |
| Africa | 0 | 0 | 0 | 0 | 0 |
| South America | 31.8 | 30.6 | 30.7 | 31.3 | 4.6 |
| North America | 13.6 | 17.3 | 17.1 | 18 | 19.4 |
| Total Crude Oil, NGL and Natural Gas (MMboe) | 11,386.1 | 10,921.0 | 10,470.5 | 9,878.2 | 8,815.7 |
Download the complete history of Proved Reserves SEC
1 - In 2023, we standardized the conversion between gas and oil equivalent to 5,614.65 ft3 = 1 boe, which is equivalent to the conversion used in contracts in Brazil. Quantities from previous years are using the previus conversion of 6,000 ft3 = 1 boe
Proved Reserves ANP/SPE
| Net Prove Reserves – SPE | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Crude Oil and NGL (MMbbl) | |||||
| Total Brazil | 9,778.5 | 9,311.6 | 9,029.8 | 8,624.8 | 7,889.8 |
| International | 15.2 | 17.9 | 18.1 | 18.8 | 19.5 |
| Africa | 0 | 0 | 0 | 0 | 0 |
| South America | 1.9 | 1.8 | 1.9 | 1.9 | 1.4 |
| North America | 13.3 | 16.1 | 16.2 | 16.8 | 18.1 |
| Total Crude Oil and NGL (MMbbl) | 9,793.6 | 9,329.5 | 9,047.9 | 8,643.6 | 7,909.3 |
| Natural Gas (Bcf) | |||||
| Brazil | 10,329.4 | 9,854.4 | 9,469.1 | 9,695 | 8,897 |
| International | 178.6 | 179.8 | 182.0 | 192.2 | 207.3 |
| Africa | 0 | 0 | 0 | 0 | 0 |
| South America | 176.5 | 173.2 | 176.3 | 185.1 | 199.5 |
| North America | 2.1 | 6.5 | 5.7 | 7.1 | 7.8 |
| Total Gás Natural (Bcf) | 10,508.0 | 10,034.2 | 9,651.1 | 9,887.2 | 9,104.3 |
| Total Natural Gas (Bcf) | |||||
| Brazil | 11,618.2 | 11,066.7 | 10,608 | 10,240.6 | 9,372.6 |
| International | 47.0 | 49.9 | 48.4 | 50.8 | 54 |
| Africa | 0 | 0 | 0 | 0 | 0 |
| South America | 33.3 | 32.6 | 31.3 | 32.8 | 34.6 |
| North America | 13.6 | 17.3 | 17.1 | 18.0 | 19.4 |
| Total Crude Oil, NGL and Natural Gas (MMboe) | 11,665.2 | 11,116.7 | 10,656.4 | 10,291.4 | 9,426.7 |
Download the complete history of Proved Reserves ANP/SPE
1 - Data based on the SPE reserve estimation criterion, which was implemented from 1998 onwards.
2 - For the years before 1998, a conversion rule was prepared, respecting the classification of reserves previously used by Petrobras. The previous code placed more emphasis on the volumetric aspect (certainty in the existence of volumes) than in the economic aspect (certainty in the economy of the reserve), presenting greater detail in the classification of the volumes of the proven reserves.
3 - The amounts presented by Petrobras refer only to its interests in the concessions, that is, the reserve volume corresponding to the percentage of participation, signed in a contract, with the other partners in a given production concession.
4 - As of 2015, with the change of the ANP regulations, the volumes of oil and synthetic gas of Shale are included in the volumes of the National Reserve.
5 - In 2023, we standardized the conversion between gas and oil equivalent to 5,614.65 ft3 = 1 boe, which is equivalent to the conversion used in contracts in Brazil. Quantities from previous years are using the previus conversion of 6,000 ft3 = 1 boe
National Historical Proved Reserves of Crude Oil, NGL and Natural Gas
| National Historical Proved Reserves of Crude Oil, Stabilized Condensate and Natural Gas – ANP/SPE Criteria |
2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Crude Oil (million bbl) | 9672.63 | 9,204.2 | 9,013.79 | 8,607.96 | 7,872.49 |
| Crude Oil and Stabilized Condensate (million bbl) | 9778.47 | 9,311.6 | 9,029.80 | 8,624.81 | 7,889.82 |
| Crude Oil and Stabilized Condensate (million m³) | 1554.66 | 1,480.4 | 1,435.63 | 1,371.24 | 1,254.34 |
| Natural Gas (million boe) | 1839.73 | 1,755.1 | 1,578.18 | 1,615.83 | 1,482.83 |
| Natural Gas (million m³) | 292493.65 | 279,044.1 | 250,910.27 | 256,897.49 | 235,743.81 |
| Crude Oil, Stabilized Condensate and Natural Gas (million boe) | 11618.2 | 11,066.7 | 10,607.98 | 10,240.64 | 9,372.64 |
| Crude Oil, Stabilized Condensate and Natural Gas (million m³) | 1847.15 | 1,759.5 | 1,686.54 | 1,628.13 | 1,490.09 |
Download the complete history of National Historical Proved Reserves of Crude Oil, NGL and Natural Gas
1 - Data based on the SPE (Society of Petroleum Engineers) criterion for estimating reserves, wich was implemented from 1998 onwards.
2 - "For years prior to 1998, a conversion rule was used, in line with the reserves classification method formerly adopted by Petrobras. The code used previously placed greater emphasis on volume (the certainty of the existence of volumes) rather than economic (certainty of the economic viability of the reserve) aspects, with greater detail in the classification of volume of proven reserves.
3 - The values shown by Petrobras report only to its interest in the concessions, that is the volume of the reserves corresponding to the percentage participation contractually established together with the other partners in a given production concession.
4 - From 2015, with the change of regulation of ANP, includes the volumes of oil and gas Shale in synthetic volumes of national reserve.
