2030 Strategic Plan and Maria das Graas Silva Foster CEO 2014-2018 Business Plan 1
2030 Strategic Plan 3
Petrobras Strategic Plan: Recent History Main Drivers for the Revision of 2013 Planning 2030 Vision 2010 2007 2008 2013 Law 12.276: Transfer of Rights Last Offshore Shale Gas Beginning of US Libra Auction (Oct) Law 12.304: PPSA…
World Oil Supply x Demand: 2013-2020 Economic feasibility of future oil production 2020 Production Volume from New Projects with production start up Supply challenges from 2013 on according to WoodMackenzie Demand Projection and…
2030 Strategic Plan Assumptions Brent and Henry Hub Natural Gas Prices Petrobras assumptions on Brent price within the most conservative range of market projections. Petrobras projection for Henry Hub natural gas prices is close to…
Petrobras Strategy: Choices of an Integrated Energy Company To produce on average 4.0 million barrels of oil per day in the 2020-2030 period, under E&P Petrobras ownership in Brazil and abroad, acquiring exploration rights to meet…
Oil and NGL production scenarios in Brazil Petrobras and Estimators: 2013, 2020 to 2035 In 2035, according to estimators, Brazils oil production will range from 4.7 to 6.6 million barrels of oil per day. International Energy Agency…
Petrobras Big Choice for the E&P segment 4 million bpd average production: 2020 to 2030, Brazil and Abroad Petrobras chooses to be a company with a potential production capacity of 4 million bpd in its activities in Brazil* and…
Brazil: Oil and NGL Production x Oil Products Demand Refining Expansion Aligned with the Domestic Market Growth Petrobras processing capacity is expected to reach 3.9 million barrels per day by 2030. Oil Products Self-sufficiency:…
Natural Gas Supply and Demand Balance: 2013 - 2030 (million m/day) The natural gas imports and transportation infrastructure already installed is enough to meet Petrobras demand until 2030*. Supply Demand Domestic Supply of NG…
Mission, Vision 2030 and Corporate Drivers Mission Vision 2030 To perform in the oil and gas industry in an ethic, safe and profitable way, with social and To be one of the five largest integrated energy environmental…
2014-2018 Business and Management Plan 13
Exploratory Success and Reserves Increase 46 discoveries in the last 14 months (Jan/13 Feb/14), of which 24 were offshore (14 in Pre-salt). Brazil Discoveries: 46 Offshore: 24 Onshore: 22 TANGO(CES-161) PITU(RNS-158)…
2014-2018 BMP: Petrobras Oil, NGL and Natural Gas Production Curve in Brazil 2014 Growth: 7.5% 1p.a. 15
2014-2018 BMP: Petrobras Oil and NGL Production Curve in Brazil Oi and NGL production (million bpd) 9 Production Units 1st Oil Forecast 1st Oil Forecast Concluded 2014 - 2015 2016 - 2020 Lula Alto Lula Ext. Sul NE de Tupi Espadarte…
Production Units Delivered, under Construction and under Bidding Additional Installed Capacity Operated by Petrobras P-67 1,000 th. bpd 300 th. bpd 150 th. bpd 1,000 th. bpd 900 th. bpd 1,050 th. bpd P-73 TAD P-75 P-77 Cid.…
19 New PLSVs to support the Oil Curve Current Fleet = 11 PLSVs + 8 throughout 2014 +9 +2 3 PLSVs of 550t 1 PLSVs of 300t (Suape) PLSVs under Operation and Construction (The Netherlands) Sunrise 270t Kommandor 3000 135t North…
Brazil: Oil and NGL Production x Oil Products Demand Refining Expansion Aligned with Domestic Market Growth Petrobras refining capacity should reach 3.3 million bpd in 2020, aligned with domestic market growth. Million bpd…
Trade Balance: Oil and Oil Products Petrobras will become relevant net exporter Increase in oil production and higher refining capacity will make Petrobras become net exporter starting in 2016 Exports Imports Balance +208%…
RNEST and COMPERJ Refineries Physical and Financial Monitoring Physical Monitoring S-Curve Financial Monitoring S-Curve 110 20000 IMPLEMENTION MILESTONES 100 18000 1 - Start-up - ETA (Mar/2014) 90 2 - Start-up - ETDI (Sep/2014)…
Oil Products Price - Brazil vs International In 2013 we had 3 price increases in diesel and 2 in gasoline, totaling 20% and 11% increases respectively. The Real devaluation contributed significantly to the non-convergence of prices…
Natural Gas, Energy and Gas-Chemical Monetization of Natural Gas reserves by increasing the capacity of thermoelectric generation and of nitrogenous fertilizers, as well as the NG distributor demand. +20% Thermoelectric Power Plant…
International: Oil and Natural Gas Production Production growth by participation in exploratory opportunities in Latin America, Africa and the USA. Maintenance of Bolivian gas supply to Brazil and minority operation in non-conventional…
2014-18 Business and Management Plan Fundamentals PRIORITY CAPITAL PERFORMANCE DISCIPLINE Financiability Assumptions Investment Grade rating maintenance Guarantee the Priority for Management oil and focused on expansion of No…
2014-2018 BMP Investments Approved by the Board of Directors of Petrobras on 02/25/2014 BMP 2014-2018 US 220.6 billion Financiability Assumptions 38.7 (18%) Investment Grade Rating maintenance: 10.1 (5%) Return of the debt ratios…
2014-2018 BMP Investments: US 220.6 Billion Projects Under Implementation, Bidding Process and Evaluation Portfolio of Projects Portfolio of Projects Total Investments Under Implementation + Under Bidding Process Under Evaluation US…
Petrobras Investments in Exploration and Production: US 153.9 billion Total E&P Production Development + Exploration US 153.9 bilhes US 135.9 billion 18,0 23,4 (12%) (15%) 53,9 (40%) 82,0 (60%) 112,5 (73%) Pre-Salt…
Petrobras Investments: US 58.5 billion Downstream Gas, Energy and Gas-Chemical International 0,4 0,3 0,3 Downstream 1% 1% 1% Projects Under Implementation Projects Under Bidding Process 1,4 US 38.7 billion 3,3 9% 4% RNEST…
E&P and Dowstream Share Evolution in the Business and Management Plan Portfolio of Projects for Financiability Evaluation E&P share in Petrobras investments has been increasing in the last five Business and Management Plan…
2014-2018 BMP: Investment and Operating Costs Management 2014-2018 BMP US 220.6 Billion PRC-Poo PROEF Program to Reduce Well Program to Increase Costs PROCOP Operational Efficiency Operating Costs Optimization Program…
2014-2018 BMP Incorporates operational efficiency gains from PROCOP Costs reduction between 2013 and 2016 with potential savings of R 37.5 billion in nominal values 34,8 32,7 -5.9% p.a. Gains from PROCOP reduce Lifting Cost:…
2014-2018 BMP: Financiability Analysis US 206.8 billion Portfolio of Projects Portfolio of Projects Total Investment Under Implementation + Under Bidding Process Under Evaluation US 220.6 billion US 206.8 Billion US 13.8 Billion…
2014-2018 BMP: Financial Planning Assumptions Financiability analysis only incorporates projects under Implementation + Bidding = US 206.8 Billion No equity issuance Investment grade maintenance Main Assumptions for Cash Flow…
2014-2018 BMP: Operating Cash Flow and Funding Needs 261.7 261.7 Total Divestments between US 5 and 11 billion throughout 2014- 9.9 39,8 2018, depending on market appetite and evolution of the 9.1 Companys financial indicators. 54.9…
2014-2018 BMP: Leverage and Net Debt/EBITDA 50% Leverage Petrobras Gross and Net Debt 40% 30% US billion 140 20% 10% 120 0% 100 2014 2015 2016 2017 2018 80 Declining leverage, within maximum limit of 35% as of 2015 60 4,0 Net…
FX Rate Sensitivity 37
FX Rate Sensitivity: Financial Planning Assumptions Financiability analysis only incorporates projects under Implementation + Bidding = US 206.8 Billion No equity issuance Investment grade maintenance Main Assumptions for Cash Flow…
FX Rate Sensitivity: Operating Cash Flow and Funding Needs 236.6 236.6 . 3,2 8.7 Total Divestments between US 5 and 11 billion throughout 2014-2018, 39,8 51.9 depending on market appetite and evolution of the Companys financial 51.6…
FX Rate Sensitivity: Leverage and Net Debt/EBITDA 50% Leverage 40% Reference FX rate Petrobras Gross and Net Debt 30% US billion 140 20% 120 10% 100 0% 2014 2015 2016 2017 2018 80 Declining Leverage, returning to limitof 35% in…
Investment Sensitivity (Portfolio Under Implementation = US175.9 billion) 41
Investment Sensitivity: Financial Planning Assumptions Financiability analysis only incorporates projects under Implementation = US 175.9 Billion No equity issuance Investment grade maintenance Main Assumptions for Cash Flow…
Investment Sensitivity: Operating Cash Flow and Funding Needs 230.8 230.8 9.9 Total Divestments between US 5 and 11 billion throughout 2014-2018, 9.1 39,8 depending on market appetite and evolution of the Companys financial 54.9…
Investment Sensitivity: Leverage and Net Debt/EBITDA 50% Leverage 40% Petrobras Gross and Net Debt 30% US billion 140 20% 10% 120 0% 100 2014 2015 2016 2017 2018 80 Declining leverage, within maximum limit of 35% as of 2015…
Investment (Portfolio Under Implementation = US175.9 billion) and FX Rate Sensitivity 45
Investment and FX Rate Sensitivity: Financial Planning Assumptions Financiability analysis only incorporates projects under Implementation = US 175.9 Billion No equity issuance Investment grade maintenance Main Assumptions for Cash…
Investment and FX Rate Sensitivity: Operating Cash Flow and Funding Needs 209.9 209.9 Total Divestments between US 5 and 11 billion throughout 2014-2018, 1.4 8.7 depending on market appetite and evolution of the Companys financial 27.8…
Investment and FX Rate Sensitivity: Leverage and Net Debt/EBITDA 50% Leverage 40% Reference FX rate Petrobras Gross and Net Debt 30% US billion 140 20% 10% 120 0% 100 2014 2015 2016 2017 2018 80 Declining Leverage, returning to…
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