TRANSFER OF RIGHTS CONTRACT Novo Marco Regulatrio de Explorao e Produo Conference Call / Webcast Jos Sergio Gabrielli CEO Almir Contrato de Guilherme Cesso Barbassa Onerosa CFO and Investor Relations Officer Lei 12.276/2010…
TRANSFER OF RIGHTS WITH COMPENSATION AREAS 3
VALUES AND VOLUMES Volume of the contract 3C Volume Value Block Area (km) (MM boe) (MM boe) (US/boe) Florim 292 467 467* 9.01 Franco 1,255 3,058 6,056 9.04 Iara (Surround) 611 600 1,088 5.82 Tupi Northeast 291 428 428* 8.54 Guar…
TRANSFER OF RIGHTS WITH COMPENSATION CONTRACT Assumptions of revision Year base of cash flow: 2010 Prices Oil: fixed price based on NYMEX forward 18 months, minus ANP concept spread Gas: price of RJ-SP market, minus…
TRANSFER OF RIGHTS WITH COMPENSATION CONTRACT Petrobras will exercise activities of petroleum production taking full risk and will be the owner of produced volumes Royalties of 10% will be paid by Petrobras and distributed…
TERMS OF THE CONTRACT Operations under Petrobras performance and risk similar to concession contracts Differences from the concession contracts: Contract assure volumes Price adjustment mechanism Maturity: Declaration of…
ENFORCEABLE EXPLORATORY PROGRAM Block Activity Florim 1 well + 3D seismic Franco 2 wells + EWT + 3D seismic Iara (surrondings) 1 well + 1 contingent well + EWT (contingent) + 3D seismic Tupi (NE) 1 well + EWT (contingent) + 3D…
TRANSFER OF RIGHTS WITH COMPENSATION CONTRACT Mechanisms to guarantee the contracted volume (5 billion bbl) 1) Inclusion of the contingent block : Can occur up to 4 years after contract signing, in case additional volumes are needed…
TRANSFER OF RIGHTS WITH COMPENSATION CONTRACT Revision of the value of the contract Technical and economical assumptions establish in contractual attachment Price revision will take into consideration: oil price variation, production…
TRANSFER OF RIGHTS WITH COMPENSATION CONTRACT Reallocation volumes In accordance with technical foundation, base on differences from the geologic features originally considerate, which make impossible the production of the oil…
TRANSFER OF RIGHTS WITH COMPENSATION CONTRACT Volumes adjustment mechanisms Notice three years prior to the end of the production or depletion Information about additional volumes and infrastructure condition In case of…
LOCAL CONTENT REQUIREMENTS Local Content Global Content - Exploration, Appraisal and Development Content for items and sub item Similar penalties as applied in concession model Global Content Exploration: 37% Development: average…
STRATEGIC VIEW Increase in production Possible increase in the the companys production growth rate, helping Petrobras to reach the position as the larger oil and gas producer among the supermajors 35% increase in proved reserves,…
FINAL CONSIDERATIONS Similar to the concession contract in terms of regulation and surveillance Volume assured and maturity of the contract (40 years, extendable for 5 more) adequate to produce to contracted volume. Revision after…
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