"petrobras domestic e&p - results and perspectives"

Petrobras Domestic E&P

Hugo Repsold JuniorGeneral Manager for Domestic E&P Strategy and Portfolio

October, 2006

Results and Perspectives

2

•The presentation may contain forecasts about future events. Suchforecasts merely reflect the expectations of the Company's management. Such terms as "anticipate", "believe", "expect", "forecast", "intend", "plan", "project", "seek", "should", along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results ofoperations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein. The Company is not obliged to update the presentation/such forecasts in light of new information or future developments.

Cautionary Statement for US investors:•The United States Securities and Exchange Commission permits oiland gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation, such as oil and gas resources, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC.

3

OverviewOverview

Corporate TargetsCorporate Targets

4

Domestic E&P StrategyDomestic E&P Strategy• Increase production and reserves

Strengthen expertise in deep and ultra-deep waters;

Perform on-shore and in shallow water fields focusing on profitable opportunities;

Implement practices and new technologies in areas with high exploitation degree in order to optimize recovery factor;

Develop exploratory efforts in new frontiers in order to assure a sustainable reserve / production ratio;

Guarantee a sustainable self-sufficiency in the long term;

Optimize development of proven reserves prioritizing on increasing production of light oil and a minimum R/P ratio of 15 years;

Maximize and accelerate gas production and supply from E&P.

• Perform with operational excellence and social and environmental responsibility

5

Domestic E&P OperationsDomestic E&P OperationsReserves (at December 31, 2005)• Proven reserves of 13.23 billion boe

(SPE) or 10.58 billion boe (SEC)

• Reserve life of 19.7 years (SPE) and 15.7 (SEC)

• Internal Reserve Replacement of 131.1% (SPE) and 101.3% (SEC)

Production (2005)• 1,958 thousand boed (1,684 thousand

bpd oil)• 5-year CAGR of 5.6% (5.8% oil)

F&D Cost• US$ 3.45/boe (2003 – 2005) – SPE

Lifting Cost• US$ 5.73/boe (2005)

Exploratory Area (Nov/2005)•• 157.7 thousand km157.7 thousand km2 2 (Petrobras + (Petrobras +

Partners)Partners)•• 153.4 thousand km153.4 thousand km2 2 (other (other

Companies)Companies)Total: 311.1 thousand kmTotal: 311.1 thousand km2..

Petrobras & Partners

Other Companies

6

Oil and Gas Proven Reserves and ProductionPublicly Traded Peer Group

Oil and Gas Proven Reserves and ProductionPublicly Traded Peer Group

Source: Evaluate Energy2005

3.2

6.7

9.4

10.7

11.8

12.0

12.1

20.0

20.3

22.4

17.6

0 5 10 15 20 25

Repsol-YPF

ENI

ConocoPhillips

Total

Petrobras

ShellGroup (RD)

Chevron

BP

Petrochina

Lukoil

ExxonMobil

1.1

1.7

1.9

2.0

2.2

2.4

2.4

2.9

3.5

4.0

4.1

0 1 2 3 4 5

Repsol-YPF

ENI

Lukoil

ConocoPhillips

Petrobras

Chevron

Total

Petrochina

ShellGroup(RD)

BP

ExxonMobil

Reserve Replacement Index (%)

Proven Reserves SEC Criteria(billion boe)

Production(million boed)

13%

23%

77%

87%

91%

94%

95%

100%

121%

149%

-101%%

-150 -100 -50 0 50 100 150 200

Repsol-YPF

Chevron

ENI

Shell

Total

Lukoil

Petrobras

BP

ConocoPhillips

ExxonMobil

Petrochina

7

Proven Reserve Profile

8

2 . 3 7 42 . 8 1 2

5 5 1

7 2 4

7 4 2

1 8 5

2 7 8

3 8 3

2 0 1 5

F o r e c a s t

1 , 6 8 4 1 , 8 8 01 , 5 4 0 1 , 4 9 3

2 5 0 2 6 5 2 7 4

2 8 9

1 3 3

1 6 1 1 6 81 6 3

8 5

1 0 1

9 49 6

2 0 0 3 2 0 0 4 2 0 0 5 T a r g e t 2 0 0 6

O i l a n d N G L - B r a z i l N a t u r a l G a s - B r a z i l

O i l a n d N G L - I n t e r n a c i o n a l N a t u r a l G a s - I n t e r n a c i o n a l

2,036 2,020 2,217 2,403

3,493

4,556Thousand boed

7.8% p.y.

7.5% p.y.

T a r g e t 2 0 1 1

Total Production – Oil & NGL and Natural Gas

9

(154) (326) (508) (697)(154)

(172)(181)

(189)(201)

(217)

(897)

(1.400)

(900)

(400)

100

600

1.100

1.600

2.100

2.600

2005 2006 2007 2008 2009 2010 2011

Total Production Accumulated Decline Annual Decline

2,0612,195

2,368 2,374

1,6841,880

1,979

Brazilian production curve

1,114Accumulated

Natural Decline

690

Net Increase

+

1,804

Gross Increase

Thou

s. b

pd

10

2,374

2,195

2,0611,979

1,880

1,684

2,368

1,400

1,600

1,800

2,000

2,200

2,400

2,600

2005 2006 2007 2008 2009 2010 2011

Parque das Conchas***

100,000 bpd

2011

Parque das Conchas***

100,000 bpd

2011

Main Domestic Oil Production Projects

Albacora LesteP-50

180,000 bpdApril/2006

Albacora LesteP-50

180,000 bpdApril/2006

JubarteFase 1P-34

60,000 bpdOct/2006

JubarteFase 1P-34

60,000 bpdOct/2006

Marlim LesteP-53*

180,000 bpd2009

Marlim LesteP-53*

180,000 bpd2009

FPSO CapixabaGolfinho Mod. 1

100,000 bpdMay 2006

FPSO CapixabaGolfinho Mod. 1

100,000 bpdMay 2006

Frade100,000 bpd

2009

Frade100,000 bpd

2009

RoncadorP-52

180,000 bpd2007

RoncadorP-52

180,000 bpd2007

RoncadorP-54

180,000 bpd2007

RoncadorP-54

180,000 bpd2007

Marlim SulModule 2

P-51180,000 bpd

2008

Marlim SulModule 2

P-51180,000 bpd

2008

Piranema20.000 bpdDec. 2006

Piranema20.000 bpdDec. 2006

JubartePhase 2

P-57180,000 bpd

2010

JubartePhase 2

P-57180,000 bpd

2010

Rio de JaneiroEspadarte Mod II

100,000 bpd2007

Rio de JaneiroEspadarte Mod II

100,000 bpd2007

ESS-130Golfinho Mod III ****

(FPSO)100,000 bpd

2008

ESS-130Golfinho Mod III ****

(FPSO)100,000 bpd

2008

Cidade de VitóriaGolfinho Mod. 2

100,000 bpd2007

Cidade de VitóriaGolfinho Mod. 2

100,000 bpd2007

RoncadorP-55**

180,000 bpd2011

RoncadorP-55**

180,000 bpd2011

Thousand pbd

7 out of the 15 projects refer to after7 out of the 15 projects refer to after--2002 discoveries2002 discoveries

11

Capital Expenditures and Costs

Capital Expenditures and Costs

Corporate TargetsCorporate Targets

12

Investment PlanInvestment Plan

The forecast indicates an annual investment average of US$ 17.4 billion between 2007 and 2011.

(*) Obs.: US$ 52.4 related to the investments of the previous Plan regarding the 2007-2011 period, i.e. US$ 56.4 - 2006 investments + 2011 investments.

34.7

0.7

1.3

5.4

2.6

8.8

15.7

Difference

87.1

1.7

2.2

12.1

7.2

23.1

40.7

2007-2011(BP 2007-11)

6652.4Total

811.0Corporate

1310.9Distribution

826.7International

564.6G&E

6214.3Downstream

6325.0E&P

Difference (%)2007-2011(BP 2006-10)*Area

ExplorationProduction Development

7.733.0

13

Competitive Cost StructureCompetitive Cost Structure

2003–2005 AverageFinding & Development Costs

($/boe)

2005 Lifting Costs1

($/boe)

Notes:1 Per company financials and J.S. Herold. Excludes corporate G&A2 For the 2002–2004 period3 Without government participation

9.39

6.80

5.73 5.545.08

2.76

5.88

0.00

2.00

4.00

6.00

8.00

10.00

Exxon Mobil

Chevron Petrobras³ Royal Dutch/Shell

BP Total Fina Elf

Average

15.14 15.06

7.55 7.04 6.816.07

9.62

0

2

4

6

8

10

12

14

16

Chevron Royal Dutch/Shell²

Total Fina Elf

BP Petrobras Exxon Mobil

Average

14

Domestic Lifting CostDomestic Lifting Cost

Lifting costs expected to stabilize♦ Production increases♦ Technological enhancements♦ Wells, platforms and plants automation ♦ Optimization of logistics, operations and administrative processes

Lifting Costs and Government Take per Barrel

3,3 3,3 3,0 3,4 4,3 5,7 5,63,7 3,3 4,0 5,1

6,48,9

28,13 24,11 25,4728,74

38,29

54,50

0,0

5,0

10,0

15,0

20,0

25,0

2000 2001 2002 2003 2004 2005 2011

US

$/bo

e

0

10

20

30

40

50

Lifting Cost Government Take Brent

7.0 6.6 7.0 8.510.7

14.65

15

200520042003

66

41

25

Total

90

43

47

Total

23

4

19

International

4642Offshore

8764Total

4122Onshore

TotalBrazil

Owned Rigs: 31

Leased: 56

• Petrobras’ leasing contracts are long term, averaging a 5 years length;• In 2005, 18 offshore drilling rigs were owned by Petrobras;• In August 2005, Petrobras renovated 24 drilling rigs contracts.• In July 2006, Petrobras signed contracts worth R$ 10.5 billion for the charter of six drilling units:

• 4 rigs will operate in water depths of up to 2,000 meters (seven-year term contract, renewable for further seven years);• 2 rigs will operate at depths down to 2,400 meters (units chartered for 5 years, renewable for the same period);

• In September 2006, the Company contracted two ultra-deepwater rigs for its drilling operations in the Gulf of Mexico. The contracts have 5 and 6 years term.

Petrobras’ Drilling Rigs

16

Recent Exploration Efforts and Results Recent Exploration Efforts and Results

17

611 exploration wells

31% overall success ratio

Last year (2005) 55%

Exploration Activities - 1998/2005wells & seismic

Exploration Activities - 1998/2005wells & seismic

1998/2005

~ 450,000 km 2D seismic~ 92,240 km2 3D seismic

Espírito Santo 40 wells offshore

Campos 186 wells offshore

Santos 65 wells offshore

Other Basins

216 wells onshore

104 wells offshore

18

Number of Concessions in BrazilNumber of Concessions in Brazil

Exploration Blocks 59 66 125 218 343

Exploration EP´s 24 6 30 0 30

Production 273 19 292 29 321

356 91 694Total 447 247

Concessions Total Brazil100%

W.I Parnerships TotalOther

Companies

Petrobras Concessions

Exploration Blocks 59 66 125 218 343

Exploration EP´s 24 6 30 0 30

Production 273 19 292 29 321

356 91 694Total 447 247

Concessions Total Brazil100%

W.I Parnerships TotalOther

Companies

Petrobras Concessions

Petrobras & Partners

Other Companies

19

EXPLORATORY AREA157.7 thousand km2

EXPLORATORY AREA157.7 thousand km2

CamposCampos

Espírito SantoEspírito Santo

Other Basins*Other Basins*

SantosSantos

40 % of the concession areas in Campos, Espírito Santo e Santos basins.

* Other basins: Pelotas (2%), Ceará (0.8%) and Recôncavo (0,2%)

Petrobras’ Current Exploration Portfolio

11%

9%

10%

6%5%

4% 3%

6%

8%

25%

11%

Campos13.1 mil km2

Campos13.1 mil km2

Santos39.4 milkm2

Santos39.4 milkm2

EspíritoSanto

10.1 mil km2

EspíritoSanto

10.1 mil km2

Other (*)Pará Maranhão-Barreirinhas

Sergipe AlagoasPotiguar-Ceará

Bahia Sul

SolimõesSão Francisco Foz do Amazonas

20

Expansion of Exploration Frontiers and New Oil Producing Districts

Expansion of Exploration Frontiers and New Oil Producing Districts

Fields discovered until 1984

Fiels discovered between 1984 and 2001

Fields discovered in 2002/2003

Oil and gas discoveries under evaluation

BS-500BS-500

BC-20BC-20Gas and light oilGGaas s andand lightlight oiloil

ESS-130 (Light oil)ESSESS--130 130 (L(Lightight oiloil))

(Light oil)(L(Lightight oiloil))

GasGGaass

(Heavy oil)((HeavyHeavy oiloil))

(Heavy oil)((HeavyHeavy oiloil))

21

Campos BasinCampos BasinProducible Heavy Oil & Light OilProducible Heavy Oil & Light Oil

Santos BasinSantos BasinNatural Gas & Light OilNatural Gas & Light Oil

Espirito Santo BasinEspirito Santo BasinLight Oil & Natural GasLight Oil & Natural Gas

SergipeSergipe--AlagoasAlagoas BasinBasinLight OilLight Oil

6.6 billion boer

Main Discoveries - 2002/2005Main Discoveries - 2002/2005

1 billion boerJubarte & Cachalote

2.1 bilhões boe17 º API Oil

1 billion boerLight Oil

15.5 TCFNatural Gas

4.1billion boe+ 15.5 TCF

T O T A L

22

Discoveries & ReservesDiscoveries & Reserves

Discoveries (2002/2005): 6,6 billion boeDiscoveries (2002/2005): 6,6 billion boe

Proved Reserves: 3,1 billion boerCampos Basin: 2,0 billion boer (Jubarte, Cachalote, Baleia Franca,

Baleia Azul, Baleia Anã, Papa-Terra, Abalone, Ostra, Nautilus, Argonauta and Ring-Fences of Marlim Leste, Espadarte & Albacora;

Santos Basin: 0,8 billion boer (Mexilhão, Uruguá, Tambaú & Lagosta)

Espírito Santo Basin: 0,25 billion boer (Golfinho & Canapu)Sergipe-Alagoas Basin: 0,05 billion boer (Piranema)

Proved Reserves: 3,1 billion boerCampos Basin: 2,0 billion boer (Jubarte, Cachalote, Baleia Franca,

Baleia Azul, Baleia Anã, Papa-Terra, Abalone, Ostra, Nautilus, Argonauta and Ring-Fences of Marlim Leste, Espadarte & Albacora;

Santos Basin: 0,8 billion boer (Mexilhão, Uruguá, Tambaú & Lagosta)

Espírito Santo Basin: 0,25 billion boer (Golfinho & Canapu)Sergipe-Alagoas Basin: 0,05 billion boer (Piranema)

Probable & Possible Reserves: 1,5 billion boerStill in Appraisal (2006): 2,0 billion boer

Probable & Possible Reserves: 1,5 billion boerStill in Appraisal (2006): 2,0 billion boer

23

Exploration Portfolio:Sustaining Growth Beyond 2011

Exploration Portfolio:Sustaining Growth Beyond 2011

Domestic E&PDomestic E&P

24

BR 100% e BR PartnersOther Companies

Production per Basin (July, 2006)

DOMESTIC PRODUCTIONOffshore... 1,726.7 (000 boe/d)Onshore.... 342.9 (000 boe/d)Total....: 2,069.6 (000 boe/d)Oil.: 1,785.1 (000 bpd)Nat. Gas: 284.5 (000 boe/d)Total....: 2,069.6 (000 boe/d)

55.6 (000 bpd) Oil55.6 (000 bpd) Oil56.7 (000 56.7 (000 boe/dboe/d) Gas ) Gas

84.9 (000 bpd) Oil84.9 (000 bpd) Oil18.2 (000 18.2 (000 boe/dboe/d) Gas) Gas




Campos BasinCampos Basin1,449.3 (000 bpd)Oil (81.2%)1,449.3 (000 bpd)Oil (81.2%)123.3 (000 123.3 (000 boe/dboe/d) Gas (43.%)) Gas (43.%)


4,2 (000 bpd) Oil4,2 (000 bpd) Oil0.7 (000 0.7 (000 boe/dboe/d) ) GassGass

25

Exploration PerspectivesExploration Perspectives

Paleozoic basinsLight oil/condensate

& natural gas

Paleozoic basinsLight oil/condensate Light oil/condensate

& natural gas& natural gas

Equatorial margin basins (frontier)

High risks & high rewards natural gas & light oil

Equatorial margin basins (frontier)

High risks & high rewards High risks & high rewards natural gas & light oilnatural gas & light oil

Eastern/Norteasternmargin basins

Light oil & natural gas Jequitinhonha basin (new province??)

Eastern/Norteasternmargin basins

Light oil & natural gas Light oil & natural gas Jequitinhonha basin Jequitinhonha basin (new province??)(new province??)

Espirito Santo, Campos & Santos basins

Search for new producible heavy oil discoveries

Search for light oil & natural gas discoveries

Espirito Santo, Campos & Santos basins

Search for new producible heavy oil discoveries

Search for light oil & natural gas discoveries

Proterozoic basinHigh risks natural gas

Proterozoic basinHigh risks High risks natural gasnatural gas

26

Exploration Portfolio: Hydrocarbon Potential Distribution

Exploration Portfolio: Hydrocarbon Potential Distribution

78%78%

CAMPOSCAMPOS28.7¨%

ESP.SANTOESP.SANTO11.0¨%

BAHIA SOUTHBAHIA SOUTH16.5¨%

SEAL & SEAL & RECÔNCAVORECÔNCAVO

4.5¨%

SANTOSSANTOS27.3¨%

SOLIMÕESSOLIMÕES

1.4%1.4%EQUATORIAL MARGINEQUATORIAL MARGIN

10.3%10.3%

Petrobras

Other Companies

SÃO FRANCISCOSÃO FRANCISCO

0.2 %

PELOTASPELOTAS

0.1 %

27

Exploratory Wells 2006-2010Exploratory Wells 2006-2010

Investments: US$ 4.1 billionInvestments: US$ 4.1 billion

PetrobrasOther Companies

TOTAL BRASIL (# wells) = 368

65%65%

Potiguar (47)

SEAL& REC (54)

Bahia Sul (43)

Esp.Santo (69(69))

Campos (62)(62)

Santos (66)(66)

MEQ (13)Solimões (3) Ceará (7)

Pelotas (2)(2)

S.Francisco (2)

28

Development of Natural Gas Reserves

Development of Natural Gas Reserves


29

48.4

7.124.8

38.6

13.5

34.0

20.0

71.0

30.0

0

20

40

60

80

100

120

140

Consumed in 2005 Potential Demand2011(*)

Potential Supply 2011

Thermoelectric PP Industry OtherLNG National Production Bolivian Imports

Million m3/day

* Potential consumption for power generation, considering maximal dispatch for every thermoelectric power plant

121.0

Domestic Natural Gas Market

17.7% p.y.

121.0

45.4

30

ESSESS--164164

ESSESS--130130

MexilhãoMexilhão UruguUruguáá

TambaTambaúú

Golfinho + CanapuGolfinho + Canapu

PeroPeroáá (10 MM m3/d)(10 MM m3/d)

MerluzaMerluza

Pq. Baleias + Pq. Baleias + BC10BC10

Vitória

NamoradoNamorado

PlatformsPlatforms fromfromUNUN--BC and UNBC and UN--RIO RIO

REDUCREDUC

CabiCabiúúnasnasCampinasCampinas

RPBC

GaroupaGaroupa

EnchovaEnchovaPampoPampo

Ubu

MerluzaMerluza -- IIII(BM(BM--SS--3/ BM3/ BM--SS--7, 7,

SPSSPS--25)25)LagostaLagosta

Belo HorizonteBelo Horizonte

CaraguatatubaCaraguatatubaRio de JaneiroRio de Janeiro

TOTAL SOUTHEAST:40 MM m3/d(+ 24.2 MM m3/d)

PLANGAS December/2008

Cacimbas (20 MM m3/d)Cacimbas (20 MM m3/d)

Lagoa parda

+6.4 MM m3/d +6.4 MM m3/d (*)(*)

(*) Additional to the current supplay

PPóólo Golfinho lo Golfinho +16.3 MM m3/d (*)+16.3 MM m3/d (*)

+1.5 MM m3/d +1.5 MM m3/d (*)(*)

31

70

70.665.2

49.4

34.1

27.5

0

10

20

30

40

50

60

70

80

2006 2007 2008 2009 2010 2011

Albacora Leste(P-50)2006 Golfinho Mód 1

2006

Jubarte(P-34)2006

Manati2006

Piranema2006

UrucuStart gas Sales

2007

GolfinhoMód 22007

Roncador (P-54)2007

Peroá-CangoaFase 22007

Roncador(P-52)2007

Cavalo Marinho

2010

Marlim Leste(P-53)2009

Mexilhão2009

Marlim SulMód 2(P-51)2008

Frade2009

Roncador(P-55)2011

Jubarte Fase 2(P-57)2010

SPS252009

AlbacoraComplement

2007

GN

associated

GN

Non

associated

Peroá-CangoaFase 12006

EspadarteMód. 22007

ESS1642008

Canapu2008

ESS1302008

Tambaú/Uruguá2010

RJS6332010

Parque das Conchas

2011

Natural Gas Supply Curve

Million m3/day 14 14 outout ofof thethe 27 27 projectsprojects referrefer to to afterafter 2002 2002 discoveriesdiscoveries

32

PartnershipsPartnerships


33

Concessions in PartnershipsConcessions in Partnerships

Petrobras (100%)

Partnerships

2266 Oil & Gas CompaniesOil & Gas Companies

Exploration Blocks(134)

16

268

Production Fields(284)

6668

34

Partnerships with PetrobrasPartnerships with Petrobras

Why associate with Petrobras ?

• Geological & Technological knowledge

• Experience

• Existing infrastructure

• Reduction of risk exposure

• Business leverage

• Access to scarce resources (e.g. deepwater rigs)

Opportunities for Petrobras

35

Petrobras’ PartnersPetrobras’ Partners

Exploration (17 companies)

Production Development (4 companies)

E & P (5 companies)

Ipiranga

TDC do Brasil

UP Petróleo Brasil

Frade Japão Petróleo

Shell

Repsol-YPF

Coplex

Unopaso

Starfish

Petroserv

ChevronTexaco

Eni

Exxon-Mobil

TotalFinaElf

Statoil

PetrogalEl Paso

Maersk Oil

PartexBG

Kerr-McGee

Queiroz GalvãoWintershall

Amerada Hess

Encana

Devon

36

Development Approach and Technological History

Development Approach and Technological History


37

Subsea Equipment and Floating Production Units:

• Reservoir Characteristics• Favorable Sea Environmental

Conditions• Early Production Unit as a Field-scale

Lab for Definitive Systems• Extended Well Testing & Phased

Development• Lower Capital Exposure & Early

Cash Flow• Anticipation of First Oil & High Level of

Flexibility• Field-proven & Reliable Technology• Partnerships with the Main Suppliers

Petrobras Development ApproachPetrobras Development Approach

38

The Main Petroleum Province in BrazilThe Main Petroleum Province in Brazil

Discovery 1974 - Garoupa field

Water depths 50 - 3,400 mFloating Production Units 26 (12 SS, 13 FPSO, 1 FSO)

Fixed platforms 13

Production fields 41 (15% of the Total)Pipeline Network 3,443 km

Campos Basin Main Data (Dec 2005)

82% of the Domestic Reserves & Production

39

Campos Basin: A Giant Technology LabCampos Basin: A Giant Technology Lab

PetrobrasPetrobras’’ Offshore FacilitiesOffshore FacilitiesPetrobrasPetrobras’’ RecordsRecords

Equipment InstalledDec/2005

Planned(2006)

Subsea Trees

Subsea Manifolds

Subsea Flexible Flowlines (km)

Umbilicals(km)

Rigid Pipelines (km)

Monobuoys

2,902

Floating Production Units

Completion & Production at 1886 m Completion & Production at 1886 m

Feb/2002: Exploration Well at 28Feb/2002: Exploration Well at 285353 mm

1,798

565 40

58 2

1,558

426

371

242

3

304

1

40

Petrobras´ Records in Completion/Productionand Exploration Drilling Offshore

Petrobras´ Records in Completion/Productionand Exploration Drilling Offshore

OTC1992

OTCOTC19921992

OTC2001

OTCOTC20012001

Exploration Wells Vs. MaximunWater-Depths by year

41

Installed Subsea Trees x Oil OperatorInstalled Subsea Trees x Oil Operator

5346872

7399105

117128

137

148212

256256

506

0 100 200 300 400 500 600

Other

BHP Billiton

Kerr-McGee

Eni

ConocoPhillips

Total

Amerada-Hess (Triton)

Hydro

ChevronTexaco

ExxonMobil

bp

Statoil

Royal Dutch/Shell

Petrobras

Source: Quest SUBSEA-DATA-BASE

42

Petrobras' Technological HistoryPetrobras' Technological History• First technological program - PROCAP (1986-1991): enable

production feasibility up to 1,000 m water depth

• Second version of the program – PROCAP 2000 (1992-1999): enable production feasibility up to 2,000 m water depth

• Albacora and Marlim fields producing around 750.000 bpd of oil

• Ability to operate competitively in deep and ultra deep waters

• Further technological developments (PROCAP 3000) will provide conditions to extend the operational scenario to 3,000 m water depth

43

ConclusionsConclusions


44

• Investment Plan is supported by a strong cash flow generation;

• Current portfolio allows a strong production growth to meet the corporate targets;

• The company remains focused in deep and ultra-deep water environment due to high revenue projects;

• Investment in technology to be able to produce up to 3,000 m of water depth;

• Develop exploratory efforts in order to ensure a sustainable reserve / production ratio;

• Perform with operational excellence and social and environmental responsibility.

ConclusionsConclusions

45

End End

Thank You for your AttentionThank You for your Attention

Petrobras at a GlanceResults and Perspectives

Petrobras at a GlanceResults and Perspectives

46

Annex: Current Field Developments

Annex: Current Field Developments


47

Marlim Sul Field DevelopmentMarlim Sul Field Development

Water depth:850 - 2,400 m

1000

m

2500 m

1500

m

Module 3

Module 2

Module 4

FPSO Marlim SulP-40

P-38

P-51

Module 1 Complementar

Gas pipelineOil pipeline

Module 1Operating

P-40 / P-38 Complem.

Production Wells 13 6 10 10Injection Wells 8 5 9 9Capacity (bpd) 155,000 100,000 180,000 100,000First Oil 2001 2004 2008 2013Production System

P-40 (SS) P-38 (FSO) FPSO-MLS P-51(SS) ND

API 23-27 25 22 16

Under Feasibility

Study

Module 1Highlights Module 2 Module 3 Module 4P-40 / P-38 Complem.

Production Wells 13 6 10 10Injection Wells 8 5 9 9Capacity (bpd) 155,000 100,000 180,000 100,000First Oil 2001 2004 2008 2013Production System

P-40 (SS) P-38 (FSO) FPSO-MLS P-51(SS) ND

API 23-27 25 22 16

Under Feasibility

Study

Module 1Highlights Module 2 Module 3 Module 4

48

Roncador Field DevelopmentRoncador Field DevelopmentProduction wells 8 18 11 11Injection wells 3 11 6 7Capacity (bpd) 100.000 180,000 180,000 180,000First oil 2002 2007 2007 2010Production system FPSO Brasil SS P-52 FPSO P-54 SS P-55API 27 to 31 27 to 31 18 22

underfeasibility

study API 18

Production wells 8 18 11 11Injection wells 3 11 6 7Capacity (bpd) 100.000 180,000 180,000 180,000First oil 2002 2007 2007 2010Production system FPSO Brasil SS P-52 FPSO P-54 SS P-55API 27 to 31 27 to 31 18 22

underfeasibility

study API 18

P-52

MODULE

1A

MODULE

3MODULE

4MODULE

2P-54

FPSO Brasil

1,500 m

1,900 m

Water depth: 1,500 – 1,900 m

P-55

49

Barracuda & Caratinga Field DevelopmentBarracuda & Caratinga Field DevelopmentHighlights Barracuda Caratinga

Production Wells 20 12

Injection Wells 14 8Capacity (bpd) 150,000 150,000

First Oil 12/21/2004 02/28/2005

Production System P-43 (FPSO) P-48 (FPSO)API 25 23

Highlights Barracuda Caratinga

Production Wells 20 12

Injection Wells 14 8Capacity (bpd) 150,000 150,000

First Oil 12/21/2004 02/28/2005

Production System P-43 (FPSO) P-48 (FPSO)API 25 23

Water depth:700 -1,200 m

50

Albacora Leste Field DevelopmentAlbacora Leste Field Development

Production Wells 17

Injection Wells 14

Capacity (bpd) 180,000

First Oil 2006Production System P-50 ( FPSO )API 18,3

Highlights

Production Wells 17

Injection Wells 14


First Oil 2006Production System P-50 ( FPSO )API 18,3

Highlights

Water depth: 1,100 -1,500 m

PP--5050

51

Marlim Leste Field DevelopmentMarlim Leste Field Development

Water depth: 820 – 1,500 mFPUFPU

Production Wells 14

Injection Wells 8


First Oil 2009

Production System P-53 (FPU)

API 21,5

Highlights

Production Wells 14

Injection Wells 8


First Oil 2009

Production System P-53 (FPU)

API 21,5

Highlights

52

Jubarte Field DevelopmentJubarte Field Development

Water Depth: 1,240–1,350 m

Highligths Pilot Phase 1 Phase 2

Production wells 1 4 21Injection wells 7Capacity (bpd) 20,000 60,000 180.000First Oil 2002 2006 2010Production System Seillean FPSO P-34 FPSO P-57oAPI 17 17 17

Highligths Pilot Phase 1 Phase 2

Production wells 1 4 21Injection wells 7Capacity (bpd) 20,000 60,000 180.000First Oil 2002 2006 2010Production System Seillean FPSO P-34 FPSO P-57oAPI 17 17 17

53

Development of the Gas Fields Peroá and CangoáDevelopment of the Gas Fields Peroá and CangoáINTEGRATED PROJECT

CACIMBAS - VITÓRIA (ES)

•Gas pipelines

26 inch- 112 km

16 inch - 15 km

• Capacity 4.0 MMm³/d

• Pressure 100 kgf/cm²g

• Starting in the CacimbasGasTreatment Unit (UTGC), 23 km north of Lagoa Parda

• Ending in the Lagoa Parda– Vitória gas pipeline, nearther Vale do Rio DoceCompany.

54

Development of the Piranema Field (light oil SE)Development of the Piranema Field (light oil SE)

"petrobras domestic e&p - results and perspectives"

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