Petrobras posted an excellent operational performance in 2021, reaching all production targets for the year with the achievement of the following marks:

The highlights for 2021 were:

• FPSO Carioca production start-up, on August 23, the first platform in Sépia field, in Santos Basin pre-salt. Throughout the year, 3 new producing wells were connected and currently the operated production stands above 130 thousand bpd;

“The start-up of the first Sépia project is a milestone for all of us who work at Petrobras. It is the victory of the determination, persistence and technical capacity of our professionals, in a challenging external scenario due to the pandemic”, says the Chief Production Development Officer, João Henrique Rittershaussen;

• conclusion, on July 18, of P-70’s ramp-up, in Atapu field, in less than 13 months. The FPSO reached, with 4 producing wells, an operated production of 161 thousand bpd, exceeding the project''s nominal capacity;

• record in pre-salt production, with an annual average of 1.95 MMboed, representing 70% of Petrobras'' total production. Our production in the pre-salt has been growing rapidly and this record represents more than twice the production volume of 5 years ago;

• annual record of gas utilization with the mark of 97.2% of gas produced. This record contributes significantly to reduction of emissions and higher carbon efficiency;

• on September 1st, the co-participation agreement for the Búzios field came into effect, regulating the coexistence of the Transfer of Rights (ToR) Agreement and the Production Sharing Agreement for the ToR Surplus production for the field. We now hold 90% of the exploration and production rights for the surplus volumes, excluding the PPSA portion, and 92.666% of the volumes in the shared reservoir;

• acquisition, on December 17, of exploration and production rights for the ToR surplus volumes in the Atapu and Sépia fields. Petrobras exercised its preemptive rights to act as operator, with a 30% interest in the winning consortium of Sépia. For Atapu, the winning consortium is integrated by Petrobras as operator, with a 52.5% stake. With the beginning of the Production Sharing Regime in Atapu and Sépia fields scheduled for early May 2022, Petrobras'' interests in the shared reservoir, including the shares of the ToR Agreements and of the Concession Agreements and will be respectively 65.69% for Atapu and 55.30% for Sepia.

“The achievement of those results demonstrates Petrobras'' commitment to meeting its goals and the focus on assets in deep and ultra-deep waters, which have demonstrated great competitive advantage, producing low-cost, high-quality oil with low greenhouse gases emissions”, says Exploration and Production Officer, Fernando Assumpção Borges.

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