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Proved Reserves

Proved Reserves SEC

Net Prove Reserves – SEC 2020 2019 2018 2017 2016
Crude Oil and NGL (MMbbl)
Brazil 7,533.9 8,090.5 8,173.5 8,255.40 8,069.80
International 18.4 65.6 87.9 179.2 166.2
Africa 0 41.6 59.8 63.4 69
South America 0.3 1.4 1.6 1.2 0.8
North America 18.1 22.7 26.6 114.6 96.4
Total Crude Oil and NGL (MMbbl) 7,552.3 8,156.1 8,261.5 8,434.60 8,236.10
Natural Gas (Bcf)
Brazil 7,546.7 8,392.7 7,796.2 7,684.20 8,403.20
International 33.4 212.6 272.2 218.4 213.6
Africa 0 47.2 47.3 17.3 12.5
South America 25.6 156.3 214.1 160.2 113.9
North America 7.8 9.2 10.8 40.9 87.2
Total Natural Gas (Bcf) 7,580.1 8,605.4 8,068.5 7,902.60 8,616.80
Crude Oil, NGL and Natural Gas (MMboe)
Total Brazil 8,791.7 9,489.3 9,472.9 9,536.10 9,470.30
International 24 101.1 133.3 215.6 201.8
Africa 0 49.5 67.7 66.3 71.1
South America 4.6 27.4 37.2 27.9 19.8
North America 19.4 24.2 28.4 121.5 111
Total Crude Oil, NGL and Natural Gas (MMboe) 8,815.7 9,590.4 9,606.2 9,751.70 9,672.20

Download the complete history of Proved Reserves SEC

1 - In 2015, historical data from 2009 to 2015 were updated including synthetic oil and gas. Since 2009, oil and synthetic gas has been included in the reserve disclosed to the SEC in FORM 20F, but only in 2015 did it begin to be recognized as a reserve under the criteria of ANP / SPE.

Proved Reserves ANP/SPE

9,426.711,234.811,957.112,414.8012,514.40

Net Prove Reserves – SPE 2020 2019 2018 2017 2016
Crude Oil and NGL (MMbbl)
Total Brazil 7,889.8 9,412.1 10,085.4 10,352.40 10,369.90
International 19.5 65.2 88.1 181.1 182.7
Africa 0 41 59.9 65.2 68.8
South America 1.4 1.5 1.6 1.2 0.8
North America 18.1 22.7 26.6 114.6 113.1
Total Crude Oil and NGL (MMbbl) 7,909.3 9,477.2 10,173.4 10,533.50 10,552.60
Natural Gas (Bcf)
Brazil 8,897 10,286 10,423.2 11,057.20 11,550.30
International 207.3 259.6 279.0 230.5 220.5
Africa 0 46.7 47.3 21.3 15.5
South America 199.5 203.7 220.9 168.3 113.9
North America 7.8 9.2 10.8 40.9 91.1
Total Gás Natural (Bcf) 9,104.3 10,545.6 10,702.2 11,287.80 11,770.80
Total Natural Gas (Bcf)
Brazil 9,372.6 11,126.4 11,822.6 12,195.30 12,295.00
International 54 108.5 134.6 219.5 219.4
Africa 0 48.8 67.8 68.8 71.3
South America 34.6 35.5 38.4 29.3 19.8
North America 19.4 24.2 28.4 121.5 128.3
Total Crude Oil, NGL and Natural Gas (MMboe)

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.

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
2020 2019 2018 2017 2016
Crude Oil (million bbl) 7,872.49 9,389.70 10,058.40 10,321.50 10,336.40
Crude Oil and Stabilized Condensate (million bbl) 7,889.82 9,412.06 10,085.40 10,352.40 10,369.90
Crude Oil and Stabilized Condensate (million m³) 1,254.34 1,496.35 1,603.40 1,674.60 1,648.60
Natural Gas (million boe) 1,482.83 1,714.33 1,737.20 1,842.90 1,925.00
Natural Gas (million m³) 235,743.81 272,548.95 276,184.40 292,984.20 306,048.80
Crude Oil, Stabilized Condensate and Natural Gas (million boe) 9,372.64 11,126.39 11,822.60 12,195.30 12,295.00
Crude Oil, Stabilized Condensate and Natural Gas (million m³) 1,490.09 1,768.90 1,879.60 1,938.80 1,954.70

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.


Last updated on April 5, 2021.
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