Brazilian state-run oil firm Petrobras' new strategic plan should include some $110 billion earmarked in investments for the 2025-2029 period, two sources familiar with the matter told Reuters, representing an 8 per cent increase from its previous multi-year forecast.
The plan, which Petrobras is expected to release in late November, is still under final discussion among executives, the sources said.
Petrobras did not immediately respond to requests for comment.
Every year the company releases a plan outlining its investment intentions for the coming years, and the strategic areas it will focus on.
"Currently, the amount (under discussion) is near $107 billion, but there are adjustments remaining, so it is likely to be in the range of $110 billion," one of the sources said.
Oil exploration and production should again be a priority for the firm under Petrobras' latest plan, the sources said.
It also should include between $3 billion and $4 billion for investments at the Equatorial Margin, according to one of the sources, as the company believes it could get the green light from environmental agency Ibama to drill a well in the Amazon river mouth. -Reuters