巴油将于近期发布修订后的未来五年投资计划

Brazilian state-run player Petrobras will reportedly present a five-year investment plan next month with a target lower than the $19 billion plan announced last year.

Despite two budget cuts last year, Petrobras’ plans for the 2016 to 2020 period will include a further drop, with the cuts expected to come from onshore and shallow-water areas, according to a report in the Brazilian daily Estado de S Paulo.

The revised investment plans will focus on deep-water production, with less dedicated to exploration and almost nothing set aside for onshore or shallow-water blocks, the newspaper reported, citing anonymous sources.

The debt-laden company is thought to have sufficient cash to meet its commitments through July 2017.