At the Cambridge Energy Week in Houston, Jorson Mendes, Director of exploration and production at Petrobras, announced plans to invest $7.5 billion in offshore oil and gas exploration over five years during a discussion on "Latin America's Upstream Global Competitiveness." The move underscores Petrobras' confidence in its exploration and production assets in a globally competitive energy market.

He said that Petrobras will focus on potential areas such as the Santos Basin, Pelotas Basin and the equatorial margin, where it plans to conduct oil and gas exploration. In addition, the company plans to drill two exploration Wells in Colombia and discuss the possibility of developing the deep water area in northeast Brazil, Mendez said.

In terms of technological innovation, Manders stressed the importance of a digital transformation strategy. By 2028, Petrobras will invest about $4 billion to acquire seismic data on reservoir characteristics to improve exploration efficiency and accuracy, he said.

Mendes attributed Petrobras' success in exploration and development to its efficient production and technological innovations that reduce emissions. He says the introduction of new technologies has reduced well costs compared with the early days of the pre-salt boom. He also stressed that Petrobras's success stemmed from its exploration strategy, not its acquisition history. Through internal planning and continued technological innovation, Petrobras is expected to increase the likelihood of exploration success and further reduce costs. Editor/Xu Shengpeng