Brazil’s Petrobras to spend $6 billion through 2024 to dismantle platforms, pipelines and wells

Commodities & Futures
© Reuters. People walk in front of the headquarters of Petroleo Brasileiro S.A. (Petrobas) in Rio de Janeiro © Reuters. People walk in front of the headquarters of Petroleo Brasileiro S.A. (Petrobas) in Rio de Janeiro

RIO DE JANEIRO (Reuters) – Brazil’s state-controlled oil producer Petroleo Brasileiro SA (SA:) plans to spend $ 6 billion through 2024 to decommission 18 offshore platforms, underwater gas pipelines and offshore wells, the company said in a securities filing.

In a presentation filed to the securities regulator, Petrobras, as the company is known, said it predicts proceeds of $ 1 billion from divestments in 2020, after receiving $ 14.4 billion from asset sales in 2019.

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