Petrobras estimates to invest $50 bn in pre-salt by 2025

Petrobras has revised its exploration and production (E&P) portfolio due to the coronavirus crisis and now estimates investments of approximately $40 bn to $50 bn between 2021 and 2025, compared to $64 bn in its 2020-2024 plan. The company said that the revision considered the focus on deleveraging to be a guideline and forecast to reach the gross debt target of $60 bn by 2022.

Source: Money Times