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Property, plant and equipment | 6 Months Ended
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Jun. 30, 2023
Notes and other explanatory information [abstract] |
Property, plant and equipment |
| 17. | Property, plant and equipment
| 17.1. | By class of assets
Schedule of property plant and equipment by class of assets |  |  |  |  |  |
| Land, buildings and improvement | Equipment and other assets (1) | Assets under construction (2) | Exploration and development costs (3) | Right-of-use assets | Total
Balance at December 31, 2022 | 2,538 | 55,147 | 14,838 | 38,434 | 19,212 | 130,169
Cost | 4,343 | 105,429 | 23,938 | 67,581 | 29,670 | 230,961
Accumulated depreciation and impairment (4) | (1,805) | (50,282) | (9,100) | (29,147) | (10,458) | (100,792)
Additions | − | 229 | 4,653 | 2 | 7,304 | 12,188
Decommissioning costs - Additions to / review of estimates | − | − | − | 6 | − | 6
Capitalized borrowing costs | − | − | 583 | − | − | 583
Signature Bonuses Transfers (5) | − | − | − | 6 | − | 6
Write-offs | − | (181) | (17) | (35) | (151) | (384)
Transfers (6) | 44 | 1,232 | (1,344) | 848 | 1 | 781
Transfers to assets held for sale | (16) | (52) | (7) | (25) | − | (100)
Depreciation, amortization and depletion | (42) | (2,372) | − | (2,207) | (2,524) | (7,145)
Impairment recognition | − | (180) | (266) | (1) | − | (447)
Impairment reversal | 1 | 14 | − | − | 28 | 43
Translation adjustment | 210 | 4,474 | 1,453 | 3,068 | 1,727 | 10,932
Balance at June 30, 2023 | 2,735 | 58,311 | 19,893 | 40,096 | 25,597 | 146,632
Cost | 4,696 | 115,136 | 29,432 | 73,661 | 38,756 | 261,681
Accumulated depreciation and impairment (4) | (1,961) | (56,825) | (9,539) | (33,565) | (13,159) | (115,049)
Balance at December 31, 2021 | 2,383 | 53,126 | 16,922 | 35,847 | 17,052 | 125,330
Cost | 4,080 | 98,085 | 25,954 | 61,906 | 26,382 | 216,407
Accumulated depreciation and impairment (4) | (1,697) | (44,959) | (9,032) | (26,059) | (9,330) | (91,077)
Additions | − | 442 | 3,209 | 9 | 3,255 | 6,915
Decommissioning costs - Additions to / review of estimates | − | − | − | 11 | − | 11
Capitalized borrowing costs | − | − | 530 | − | − | 530
Signature Bonuses Transfers (5) | − | − | − | 840 | − | 840
Write-offs | − | (723) | (963) | (614) | (1,389) | (3,689)
Transfers (6) | 65 | 1,706 | (4,095) | 2,411 | − | 87
Transfers to assets held for sale | (13) | (1,857) | (343) | (1,248) | (8) | (3,469)
Depreciation, amortization and depletion | (44) | (2,369) | − | (2,680) | (2,268) | (7,361)
Impairment recognition | − | (48) | (18) | (42) | − | (108)
Impairment reversal | − | 12 | 2 | 11 | − | 25
Translation adjustment | 152 | 3,661 | 1,062 | 2,369 | 1,064 | 8,308
Balance at June 30, 2022 | 2,543 | 53,950 | 16,306 | 36,914 | 17,706 | 127,419
Cost | 4,308 | 102,174 | 25,582 | 64,420 | 27,971 | 224,455
Accumulated depreciation and impairment (4) | (1,765) | (48,224) | (9,276) | (27,506) | (10,265) | (97,036)
(1) | It is composed of production platforms, refineries, thermoelectric power plants, natural gas processing plants, pipelines, and other operating, storage and production plants, including subsea equipment for the production and flow of oil and gas, depreciated based on the units of production method.
(2) | See note 8 for assets under construction by operating segment.
(3) | It is composed of exploration and production assets related to wells, abandonment and dismantling of areas, signature bonuses associated with proved reserves and other costs directly associated with the exploration and production of oil and gas (oil and gas production properties).
(4) | In the case of land and assets under construction, it refers only to impairment losses.
(5) | Transfers from intangible assets. In 2023, it refers to the declaration of commerciality of the Manjuba field. In 2022, it relates to Sépia and Atapu.
(6) | It includes mainly transfers between classes of assets and transfers from advances to suppliers.
The additions in right of use are mainly due to the entry into operation of FPSO Almirante Barroso and FPSO Anna Nery, and the respective effect on lease liabilities (note 25).
| 17.2. | Estimated useful life
The useful life of assets depreciated are shown below:
Schedule of useful life of assets |
Asset | Weighted average useful life in years
Buildings and improvement | 40 (between 25 and 50)
Equipment and other assets | 20 (3 to 31) - except assets by the units of production method
Exploration and development costs | Units of production method
Right-of-use | 8 (between 2 and 47)
| 17.3. | Right-of-use assets
The right-of-use assets comprise the following underlying assets:
Schedule of asset and readjustment on accumulated depreciation and impairment |  |  |  |
| Platforms | Vessels | Properties | Total
Balance at June 30, 2023 | 14,878 | 8,659 | 2,060 | 25,597
Cost | 19,334 | 16,713 | 2,709 | 38,756
Accumulated depreciation and impairment | (4,456) | (8,054) | (649) | (13,159)
Balance at December 31, 2022 | 9,211 | 8,254 | 1,747 | 19,212
Cost | 12,604 | 14,788 | 2,278 | 29,670
Accumulated depreciation and impairment | (3,393) | (6,534) | (531) | (10,458)
| 17.4. | Unitization agreements
Petrobras has Production Individualization Agreements (AIP) signed in Brazil with partner companies in E&P consortia, as well as contracts resulting from divestment operations and strategic partnerships related to these consortia. These agreements result in reimbursements payable to (or receivable from) partners regarding expenses and production volumes mainly related to Agulhinha, Albacora Leste, Berbigão, Budião Noroeste, Budião Sudeste, Caratinga, Sururu and Tartaruga. The table below presents changes in the reimbursements payable relating to the execution of the AIP submitted to the approval of the ANP:
Schedule of reimbursements payable |  |  |  |  |  |
|  |  |  |  | Jan-Jun/2023 | Jan-Jun/2022
Opening balance |  |  |  |  | 407 | 364
Additions/(Write-offs) on PP&E |  |  |  |  | 5 | (37)
Other income and expenses |  |  |  |  | 23 | 12
Translation adjustments |  |  |  |  | 35 | 22
Closing balance |  |  |  |  | 470 | 361
| 17.5. | Capitalization rate used to determine the amount of borrowing costs eligible for capitalization
The capitalization rate used to determine the amount of borrowing costs eligible for capitalization was the weighted average of the borrowing costs applicable to the borrowings that were outstanding during the period, other than borrowings made specifically for the purpose of obtaining a qualifying asset. For the six-month period ended June 30, 2023, the capitalization rate was 6.89% p.a. (6.56% p.a. for the six-month period ended June 30, 2022).

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