Petrobras Offshore Wind, $109 B CAPEX Plan, Hitachi Energy Partnership, and 2 Key Studies in 2025

Petrobras Phased Entry: De-Risking Offshore Wind via Oil and Gas Synergies

Petrobras’s 2025 offshore wind strategy is defined not by large-scale project construction, but by a calculated use of its existing deepwater oil and gas expertise to systematically de-risk its entry into Brazil’s nascent renewable sector. The company’s actions show a deliberate pivot from broad ambition to focused, data-driven preparation. This approach prioritizes building foundational capabilities and leveraging operational synergies over immediate capital deployment into wind generation assets.

From Broad Ambition to Focused Pilots

In 2025, Petrobras sharpened its strategic focus by moving away from a wide-ranging portfolio of potential projects to a concentrated pilot program. Before 2025, the company had signaled interest in multiple offshore wind development areas. However, by December 2025, it restructured this plan, removing a project in Espírito Santo to consolidate efforts on a single pilot project in Rio de Janeiro. This decision marks a strategic shift to a more disciplined, phased-entry model, allowing the company to master technical and regulatory challenges on a manageable scale before committing to larger developments. This measured approach contrasts with the more aggressive, early-stage portfolio-building seen by European majors like Equinor and Total Energies.

Foundational Data Before Capital Deployment

The most significant commercial step taken by Petrobras in 2025 was the issuance of tenders for comprehensive geophysical and geotechnical studies in June. This action represents a critical investment in information, aimed at mapping the seabed and assessing the technical viability of its target offshore wind sites. By front-loading data acquisition, Petrobras is mitigating future project risk and creating a proprietary knowledge base. This is a classic strategy for an incumbent with deep pockets and a long-term outlook, choosing to spend methodically on data and engineering assessments before committing billions of dollars to physical infrastructure. This mirrors the early-stage exploration activities common to its core oil and gas business.

$109 B CAPEX, Petrobras Allocates 15% to Low-Carbon Ventures

Petrobras’s Business Plan for 2026-2030, approved in November 2025, commits a significant US$16.3 billion to low-carbon initiatives, but this allocation remains secondary to the overwhelming financial focus on its core exploration and production (E&P) business. While the 42% increase in the low-carbon budget signals a growing commitment to the energy transition, the plan simultaneously reinforces the company’s long-term reliance on fossil fuel production, creating a strategic tension between its current profit centers and future growth areas.

The 15% Low-Carbon Allocation

The US$16.3 billion earmarked for low-carbon projects, representing 15% of the total US$109 billion CAPEX, is a notable increase and covers a range of activities including renewables, biorefining, and Carbon Capture, Utilization, and Storage (CCUS). For offshore wind, this budget is expected to fund the initial pilot project development, feasibility studies, and technology partnerships. The allocation is designed to build organizational capacity and secure a strategic foothold in the renewable market without materially impacting the company’s primary E&P investment program.

E&P Investment Dominance

The new business plan reserves the vast majority of capital for E&P, with US$91 billion allocated to ongoing projects and US$18 billion for new ones. A key component of this is the plan to add 18 new Floating Production, Storage and Offloading (FPSO) units by 2030. This massive investment in oil and gas infrastructure underscores the long-term horizon of its fossil fuel strategy, particularly in the highly profitable pre-salt fields. The scale of this investment indicates that while the energy transition is an stated goal, the company’s financial and operational center of gravity will remain in oil and gas for the foreseeable future. This differs from the strategy at companies like BP, which has made more pronounced shifts in its capital allocation framework.

Table: Petrobras Strategic Investments & Cancellations (2025)

Petrobras Low Carbon Investments Stagnant Despite Overall Capital Growth
Petrobras’s ‘Low carbon investments’ remain flat at $3 billion for both 2024-2028 and 2025-2029 plans, contrasting with increased capital allocations in Exploration & Production ($73B to $76B) and Midstream & Downstream ($12B to $16B). The 2025 low carbon budget specifically shows a 40% reduction compared to the previous plan’s projection for that year, indicating a near-term dip in decarbonization efforts.

Limited Low Carbon Funding Curbs Offshore Wind Ambitions
With low carbon representing a minor fraction (approximately 3.1%) of the total 2025-2029 capital plan, Petrobras’s core focus remains on fossil fuels. The 40% cut in 2025’s low carbon spend suggests a near-term deferral or re-prioritization of clean energy initiatives, directly impacting the immediate outlook for significant offshore wind project development or new partnerships.

(Source: Rystad Energy — via image_010.jpg)

Petrobras 4 Key Alliances: Building Capabilities Before Construction (2025)

In 2025, Petrobras prioritized strategic partnerships aimed at building technological capabilities and decarbonizing existing operations, using these collaborations as a low-cost entry point into the renewable supply chain. This approach allows the company to gain hands-on experience with critical technologies and foster supply chain relationships without committing to the full capital cost of a wind farm. The focus is on learning and adaptation, particularly in integrating renewable energy with its vast offshore oil and gas infrastructure.

Hitachi Energy Platform Electrification

The July 2025 partnership with Hitachi Energy is a cornerstone of this strategy. The collaboration focuses on evaluating the technical and economic feasibility of electrifying offshore oil and gas platforms, potentially using power from future offshore wind farms. This project serves a dual purpose: it provides a direct path to reduce carbon emissions from its core E&P operations while simultaneously building critical expertise in subsea power transmission and grid integration, skills directly transferable to commercial-scale offshore wind development.

WEG/Statkraft Onshore Turbine Project

The commissioning of a 7 MW onshore wind turbine in September 2025 with partners WEG and Statkraft provides Petrobras with invaluable, direct experience in large-scale turbine technology. Although an onshore project, it is specifically designed to develop and test technologies adapted to Brazilian wind conditions. The operational data and technical learning from this BRL 130 million investment will directly inform turbine selection, operation, and maintenance strategies for future offshore projects, de-risking a critical component of the offshore wind value chain.

SBM Offshore and Seatrium/ABB Decarbonization Tech

Collaborations to decarbonize its FPSO fleet further illustrate this strategy. The study with SBM Offshore on FPSO carbon capture modules and the partnership with ABB and Seatrium to develop all-electric FPSOs are aimed at reducing the emissions intensity of oil production. However, these projects also build deep expertise in complex offshore engineering, power systems, and module integration. The supply chain relationships and technical knowledge gained are directly applicable to the construction and operation of offshore wind substations and foundations.

Table: Petrobras Partnership and Project Data (2025)

Brazil Focus, Petrobras Concentrates on Domestic Offshore Potential

Petrobras‘s offshore wind strategy is exclusively focused on its domestic Brazilian market, a move designed to leverage its unparalleled knowledge of the local offshore environment, supply chain, and regulatory landscape. Unlike global oil companies such as Shell or Exxon Mobil that have explored diverse international markets, Petrobras is doubling down on its home-field advantage, aiming to become the dominant player in Brazil’s energy transition.

The Strategic Importance of Rio de Janeiro

The decision to consolidate its initial efforts on a single pilot project in the state of Rio de Janeiro is a deliberate geographic choice. This region is the operational heart of Petrobras‘s pre-salt oil and gas activities. Concentrating its first offshore wind project here allows the company to capitalize on existing logistical support bases, a skilled local workforce, and established relationships with port authorities and service providers. This significantly reduces logistical complexity and project risk compared to venturing into a new geographic area.

The Equatorial Margin Dilemma

The company’s geographic focus remains divided. While it lays the groundwork for future wind projects off the coast of Rio de Janeiro, Petrobras continues to aggressively pursue new oil and gas exploration in other sensitive regions. In October 2025, it received a permit to drill an exploratory well near the mouth of the Amazon River in the Equatorial Margin, an area targeted with a US$3 billion exploration budget. This dual strategy highlights the geographic and strategic tension within the company: one part is building a renewable future in its established operational areas, while another is pushing the fossil fuel frontier into new, environmentally contested zones.

Offshore Wind Technology: Petrobras at Preparatory Phase, Not Commercial Scale

In 2025, Petrobras‘s engagement with offshore wind technology was firmly in the preparatory and R&D phase, focusing on site assessment and component-level learning rather than commercial-scale project execution. The company is methodically building a technology stack and operational understanding from the ground up, leveraging adjacent projects to gain insights into technologies that are critical for offshore wind success.

Onshore Learning for Offshore Application

The primary example of this approach is the 7 MW onshore turbine project with WEG. Instead of directly tackling the complexities of an offshore installation, Petrobras invested in a land-based project to test and validate large turbine technology in Brazil’s specific wind conditions. This provides a controlled environment to understand turbine performance, maintenance requirements, and supply chain logistics. The data gathered from this project is a low-risk way to inform the much higher-stakes decisions required for selecting and operating multi-gigawatt offshore wind farms in the future.

Digital and Subsea Foundation

Underpinning its physical preparations is a focus on foundational digital and subsea technologies. The awarding of multi-year subsea service contracts to companies like Fugro, commencing in late 2025, ensures it has the latest seafloor mapping and surveying capabilities. These services are as essential for siting wind turbines and cable routes as they are for oil exploration. By securing these capabilities, Petrobras is building the essential technical foundation required for any complex deepwater development, whether for oil, gas, or wind.

SWOT Analysis: Petrobras Offshore Wind Strengths and Market Risks

Petrobras‘s offshore wind ambitions are supported by its world-class deepwater operational strength but are constrained by a deep financial and cultural reliance on its core fossil fuel business. The analysis reveals that its greatest opportunity lies in leveraging its incumbency to lead Brazil’s energy transition, while its most significant threat comes from regulatory delays and the potential for more agile, pure-play renewable developers to gain a foothold.

Table: SWOT Analysis for Petrobras Offshore Wind Initiatives for 2025: Key Projects, Strategies and Partnerships

Petrobras 2026 Outlook: Will Brazil’s First Wind Auction Trigger Investment?

The single most critical factor determining the pace of Petrobras‘s offshore wind investment in 2026 is the timing and structure of Brazil’s first offshore wind auction. The company has spent 2025 laying the groundwork through studies and partnerships; the auction will be the catalyst that could trigger a final investment decision (FID) on its first pilot project and unlock more substantial capital allocation.

• If Brazil’s first offshore wind auction proceeds in 2026: Watch for Petrobras to be a leading bidder, likely for lease areas it has already begun studying. A successful bid would almost certainly be followed by an FID on its Rio de Janeiro pilot project, moving the company from the planning phase to the execution phase. This would be the clearest signal of its long-term commitment.
• If the auction is significantly delayed beyond 2026: Watch for Petrobras to continue its low-cost preparatory work but defer major capital commitments for offshore wind. The company would likely pivot available low-carbon capital towards more mature technologies in its portfolio, such as advanced biofuels, hydrogen, or CCUS projects, which are less dependent on new government auction frameworks.
• Regardless of auction timing: The results of the geophysical and geotechnical surveys initiated in June 2025 will be a key internal milestone. Positive findings on seabed conditions and wind resource potential would strengthen the internal business case for offshore wind, making the company more aggressive when auctions do occur. Negative or challenging results could lead it to re-evaluate its chosen sites or even its near-term strategy.

The questions your competitors are already asking

This report covers one angle of Petrobras’s entry into offshore wind. The questions that matter most depend on your work.

• Equinor and TotalEnergies Brazil offshore wind plans
• Brazil offshore wind auction timeline and bidders
• Local content requirements for Brazil offshore wind
• Cost and feasibility of electrifying offshore oil platforms

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