Barclay's Oil and Gas Conference Cristina Pinho Exploration & Production September, 2014
AGENDA OVERVIEW/BUSINESS AND MANAGEMENT PLAN 2014-2018 PRODUCTION UPDATE - RAMPING UP NEW SYSTEMS - MAINTAINING EXISTING SYSTEMS PER BOE ANALYSIS PRE-SALT UPDATE NEW UNITS CONCLUSION
PETROBRAS TODAY Fully integrated across the hydrocarbon chain Exploration and Downstream Distribution Gas and Power International Biofuels Production 12 refineries (Brazil) 7,710 service stations 9,190 km of gas pipelines in Brazil…
COMPETITIVE ADVANTAGES Uniquely positioned to integrate upstream and downstream operations Exploration & Production Leader in deep-water production, with access to abundant oil reserves New exploratory frontier, adjacent to…
Business and Management Plan 2014-2018
Investments in Exploration & Production: US 153.9 billion Downstream 38.7 (17.5%) Production Development 112.5 (73%) Gas & Energy 10.1 (4.6%) International 9.7 (4.4%) Distribution 2.7 (1.2%) 2014-18 BMP Biofuels 2.3 (1.0%)…
Projects Under Implementation, Bidding Process and Evaluation Portfolio of Projects Under Implementation + Under Bidding Process Portfolio of Projects Under Evaluation US 206.8 Billion US 13.8 Billion 2014-18 BMP Under…
2014-2018 BMP: Investment and Operating Costs Management 2014-2018 BMP US 220.6 Billion PRC-Poo PROEF Program to Reduce Program to Increase Well Costs PROCOP Operational Efficiency Operating Costs PRC-Sub Optimization…
New systems ensure future growth NE de Tupi (P-72) 3 MM bbl ES guas Profundas Espadarte III Iara NW (P-71) SE guas Profundas II Lula Ext. Sul Revitalizao e CO Sul de Lula Marlim I Revitalizao (P-68) Marlim II SE guas Lula…
Ramping Up New Systems
PETROBRAS: OIL AND NGL PRODUCTION IN BRAZIL New units are now contributing to an accelerating ramp up - especially total operated production 2013 average: 1,931 kbpd 2600 1Q13: 1,910 2Q13: 1,931 3Q13: 1,924 4Q13: 1,960 1Q14: 1,922…
OIL AND NGL PRODUCTION IN BRAZIL - 2014 PROJECTION Production target of 7.5 ( 1 p.p.) maintained, as year end production offsets lower first half production 2013 average: 1,931 kbpd 2014 average: 2,075 kbpd 1% 2600 1Q13: 1,910 2Q13:…
Our critical resources needs are fulfilled New Production Units New UDW Drilling Rigs New PLSVs above 2000m 27 28 19 19 19 19 35 17 1 2 30 5 22 5 28 2 9 8 9 19 14 8 8 13 6 9 5 6 7 5 5 7 1 2 3 3 2 2 2014 2015 2016…
Production Wells Expected to be Connected in 2014 New Production Wells in 2014 New Injection Wells in 2014 64 64 28 55 22 17 27 3 Connected Completed Drilled Total Connected Completed Drilled Total In 2014, up to…
Maintaining Existing Systems
Main Operational Units Cango Pero UO-ES Camarupim 7 production units ESGolfinho 287 kbpd Canapu Vitria Carap MG Parque das Baleias UO-RIO 17 production units 840 kbpd Albacora Roncador Garoupa RJ Marlim Barracuda Rio de…
Program to Increase Operational Efficiency (PROEF) Operational Efficiency(%) Oil + NGL Production (kbpd) UO-BC 488 Recovering wells and 455 452 442 subsea systems. 418 389 390 389 382 Total Expenditure* 428 355 413 408 405 US 1,897…
Legacy Oil accounts for 80% of the production target for 2014 Reservoirs potential decline rate Decline Rates - CERA 2.5 LARGE SMALL SOURCE FIELDS FIELDS 2 Onshore 5,3% 6,2% OIL POTENTIAL (MM BPD) Deep waters 12,0% 19,8%…
Higher productivity guaranteed the maintenance of lifting cost More operational activities with constant oil production; Stabilized unitary costs with a downward trend increase in productivity and cost reduction 40 2013 Average: 1H…
Pre-salt Update
The Pre-Salt Province FPSO Cid. FPSO 9 production units MG Anchieta Capixaba P-58 + 2 EWT 5 p; wells 1 p. well 1 p. well 22 production FPSO Cid. wells (10 PPSBS, FPSO Cid. Niteri RJ 1 p. well 5 BC/RJ e 7 BC/ES) Angra dos Reis…
Pre-Salt Production Highlights Monthly Production Average High Productivity Wells (kbpd - peak) Daily Production Record (kbpd) 580 kbpd in August 23rd 2014 SPS-77 (Sapinho Pilot) 36 412 Campos Basin LL-02 (Lula Pilot) 36…
Pre-salt Drilling Activity in the Santos Basin Pre-salt Cluster 22 21 33 25 23 injection wells 10 10 21 21 production wells 7 15 15 6 3 Active Rigs 2 2 7 Development 5 50 exploratory wells 4 12 Exploration 3 9 10…
FPSO CIDADE DE ILHABELA SAPINHOA NORTE (START-UP 3Q14) Next Santos pre-salt unit on schedule with topsides fabrication and integration in Brazil Sail away by Jul/2014 1st oil: 2H 2014 150 kbpd oil 6 MM m/d gas 8p + 7i wells 26
FPSO CIDADE DE MANGARATIBA IRACEMA SUL (4Q14) Santos pre-salt unit also being completed in Brazil and on schedule for production this year Sail away by Aug/2014 1st oil: 2H 2014 150 kppd oil 8 MM m/d gas 8p + 7i wells 27
P-66 PROGRESS AT THE RIO GRANDE SHIPYARD First hull completed, second hull being finalized 1 3 3 Rio Grande Shipyard ERG1 RS (april/14) (1) P-66 final hull construction activities at quay 1st hull for Pre-Salt fully…
Libra First acreage bid under Production Sharing Contracts ANP estimated volumes of 8-12 billion BOE 40% 20% 20% 10% 10% L4 Unique Characteristics L1 L8 Very thick Pre-salt reservoirs L3 L5 L6 L7 up to 900 meters thick L2 L9…
Surplus Volumes of Transfer of Rights
EST. PRE- SALT VOLUMES (PETROBRAS ONLY) 24 -32 BIL. BOE* Estimated and Tested wells or Drilled wells or in CO2 content in Field / Area Area (km2) Contractual Volume with tests in (bilion boe) progress progress gas (%) Transfer of…
SURPLUS VOLUME TRANSFER OF RIGHTS AREAS (SVToR) (minimum exploratory program of ToR has confirmed additional volumes in the areas Additional Volumes to the Transfer of Rights Contract from Areas 9.8 to 15.2 billion boe, according to…
SVToR IMPACT ON FUTURE PETROBRAS INVESTMENT SPENDING Reducing investments in the other segments while increasing investments in E&P in Brazil Petrobras ex-E&P investments in Brazil in the 2014-2018 BMP / 2030 Strategic Plan US…
THANK YOU INFORMATION Investor Relations +55 21 3224-1510 petroinvestpetrobras.com.br www.petrobras.com.br/ir
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