Petrobras revealed a new oil discovery this week in the Campos Basin, off the coast of Rio de Janeiro, reinforcing momentum in what has become one of its strongest exploration cycles in years. The find, located 108 kilometers from the coast in the southwestern portion of the Tartaruga Verde field, sits in the post-salt layer at a relatively shallow depth of 734 meters, conditions the company says will help reduce extraction costs.
This marks Petrobras’ third oil discovery of 2025, following earlier announcements in February and May in the prolific Santos Basin. Unlike those pre-salt finds, located nearly 2,000 meters underwater, the latest discovery is in a more accessible geological layer.
According to sources familiar with the project, Petrobras plans to accelerate development by leveraging existing platforms and infrastructure. A dedicated working group will design the production strategy, which is expected to rely on pipeline connections to nearby facilities with available processing capacity.
The new discovery fits perfectly with Petrobras' main plan to restore the Campos Basin which used to lead Brazil's oil production but currently produces only around 20% of the country's total output. According to analysts production levels have the potential to increase from 820000 barrels per day to reach 1 million barrels per day.
The announcement comes as production levels reach their highest point. In the third quarter of 2025, Petrobras’ operated output reached 4.5 million barrels of oil equivalent per day, with the company itself producing 3.1 million barrels, a significant increase compared to the same period in 2024.
The company plans to increase its exploration activities on the Equatorial Margin which scientists estimate contains 30 billion barrels of oil that exceed Petrobras' current reserves by almost three times.
The company directs large financial resources toward maintaining its fast exploration and production growth. The third quarter saw CAPEX reach its highest level at US$5.5 billion which represents a 28.6% increase in total investments from the previous year.
The company has achieved strong performance results which provide benefits to its shareholders.
Petrobras distributed more than R$ 32 billion in dividends across the first three quarters of 2025 and is projected to deliver an annual dividend yield above 9% at current share prices.
Through recent discoveries and increased production efforts and substantial funding dedicated to unexplored areas Petrobras continues to strengthen its position as a top-performing global oil producer.
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