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…
NEW SYSTEMS ENSURE FUTURE GROWTH NE de Tupi Schedules (P-72) under revision 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)…
P-66 MODULES INTEGRATION TO BEGIN AT BRASFELS SHIPYARD First of the 8 replicants FPSOs to be built, P-66 hull has arrived at the shipyard on Dec 12th Brasfels Shipyard RJ (dec/14) P-66 hull construction 100% made in Brazil, Rio…
OIL AND NGL PRODUCTION IN BRAZIL Petrobras Production in 2014 was 2,034 th. bpd, an increase of 103 th. bpd over 2013 Th. bpd 2013: 1,931 mbpd 2014: 2,034 mbpd 2,900 1Q13: 1,910 2Q13: 1,931 3Q13: 1,924 4Q13: 1,960 1Q14: 1,922 2Q14:…
PRE-SALT PROVINCE Production Highlights 77
WELLS CONSTRUCTION IN SANTOS PRE-SALT Total Duration Drilling Completion (including WCT) 152 158 126 101 99 102 85 84 89 86 66 54 Until 2010 2011 2012 2013 2014 2015 Until 2010 2011 2012 2013 2014 2015 Duration…
PRE-SALT RESULTS ARE COMPETITIVE TO DEEPWATER PEERS Global forecasted production and break-even prices by types of oil and projects (*) Oil shale Break-even commercial (/bbl) Greenfield Canada oil sands and heavy oil Shale oil 150…
Oil Products Output Record in Brazil: 12 Refineries New HDTs and conversion units, logistics and process optimization lead to higher output Paulnia Refinery REPLAN Capacity: 415 th. bpd +226 th. Bpd Th. bpd +12% 2,200 2,170 2,150…
TRADE BALANCE Rapid demand growth in the last 5 years has led to a shift in the trade balance 1200 Diesel Sales - Brazil 700 Gasoline Sales - Brazil 984 998 570 590 612 1000 880 937 600 809 489 740 500 Thousand bbl/d Thousand…
DOMESTIC AND INTERNATIONAL PRICE COMPARISON Differential has continued despite price increases, due to higher oil price, weaker local currency Average Brazil Price* x Average USGC Price** 4Q10 2011 2012 2013 9M14 300 280…
EBITDA Price increases contributed to higher cash flow, but additional adjustments still needed Adjusted EBITDA (US bn)* Adjusted EBITDA Breakdown per Segment (US bn)** 37.3 3.0 1.3 3.2 27.6 29.4 3.6 2.0 1.6 3.5 25.0 1.5 1.6…
CAPEX EVOLUTION IN BUSINESS AND MANAGEMENT PLANS Total planned investments declining, E&P share increasing in each of last five Plans Investment US 224.0 Billion US 224.7 Billion US 236.5 Billion US 236.7 Billion US 220.6 Billion…
CAPEX Exploration & Production and Downstream Exploration & Production Downstream 30000 US Million US Million 18000 16000 25000 14000 20000 12000 10000 15000 8000 10000 6000 4000 5000 2000 0 0 2010 2011 2012 2013…
METHODOLOGY 1 Average Percentage of Improper Payments Estimation of the magnitude of the error using the average percentage mentioned in the depositions (3%) The Company identified the amounts paid from 2004 to September 2014 with…
METHODOLOGY 2 FAIR VALUE OF SPECIFIED ASSETS (1/3) Concept and Approach Book Value (-) Fair Value = Correction Value Two approaches: (1) cost approach, considering the replacement cost; or (2) income approach, considering the…
METHODOLOGY 2 FAIR VALUE OF SPECIFIED ASSETS (2/3) 52 Assets Selected Evaluation carried out by global firms internationally recognized as independent evaluators; 52 assets under construction or in operation were selected that amounted…
METHODOLOGY 2 FAIR VALUE OF SPECIFIED ASSETS (3/3) Results and Weakness Results Fair Value of the assets lower than book value Fair Value of the assets higher than book value 31 assets 21 assets Estimated Amount: - R 88.6 billion…
FINANCIAL RATIOS INDEBTEDNESS R Billion 12/31/13 09/30/14 Short-term Debt 18.8 28.2 Adjusted Cash and Cash Equivalents of R 70.3 Bn on Long-term Debt 249.0 303.5 3Q14 Total Debt 267.8 331.7 Total debt impacted by Real devaluation.…
CASH FLOW FOR 2015: DISCLOSED JANUARY 2015 28 to 32 -16 to -18 Variation due to Brent and exchange rate scenarios US Billion -31 to -33 25 3 8 to 12 2015 Initial Balance * Operational Dividends, Amortization CAPEX…
DEBT PROFILE Diversified sources of funding, with stable amortization schedule Total Debt* (US 135.3 billion as of 09/30/2014) By Maturity By Category By Currency By Rate Short term Libra Iene Others Euro 8% Brazilian 2% 1% Real…
PETROBRAS RATINGS Consolidated investment grade position, supported by the sovereign rating Petrobras Rating: Ba2 / Brazil: Baa2 Petrobras' ratings remain on review for possible downgrade, reflecting continued concern about potential…
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