BARCLAYS CAPITAL CEO ENERGY/POWER CONFERENCE JOS FORMIGLI, PRE SALT EXECUTIVE MANAGER September 2009
DISCLAIMER The presentation may contain forecasts CAUTIONARY STATEMENT about future events. Such forecasts merely FOR US INVESTORS reflect the expectations of the Company's management. Such terms as anticipate, The United States…
ANNOUNCED RECOVERABLE VOLUMES IN SANTOS PRE-SALT Santos Pre-Salt announced recoverable volumes, can almost double Brazilian reserves. mi boe 22 - 26 bn boe 30,000 25,000 20,000 15,000 10,000 Higher estimates +4,000 5,000…
PURSUING NEW PROJECTS WHILE MAXIMIZING PRODUCTION FROM EXISTING ASSETS Petrobras Total Production (x 1000 boe/d) 5,729 223 7.5% p.y. 409 1.177 3,655 5.6% p.y. 8.8% p.y. 131 2,758 210 634 2,400 103 2,217 2,297 2,301 142…
Santos Pre-Salt ACCELERATED PROJECTCluster Vs. Campos Basin DEVELOPMENT Fast Track Project Vs. Standard Project Anticipation of revenues Uncertainties Possible optimized Capex Optimization recovery Time to First Oil Year 0…
BRAZILIAN SE BASINS IN BRAZILIAN SE BASINS PN IN 2009-2013 COMPARISON COMPARISON WITH GULF OF MEXICO WITH GULF OF MEXICO 8
SantosPRE-SALT SANTOS Pre-Salt Cluster CLUSTER VS. Vs. Campos Basin CAMPOS BASIN Blocks Consortium BMS-8 BR (66%), SH (20%) e PTG (14%) BMS-9 BR (45%), BG (30%) e RPS (25%) BMS-10 BR (65%), BG (25%) e PAX (10%) BMS-11 BR (65%), BG (25%)…
PRE-SALT ACCOMPLISHMENTS TIMELINE 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000-2001: BIDs 2 and 3: Acquisition of Santos Basin Pre- Salt blocks 2001-2004: Largest seismic acquisition and interpretation in the world
PRE-SALT ACCOMPLISHMENTS TIMELINE 2008 2009 2010 2011 2012 2013 2014 2015 2016 Phase 0:Information gathering, Appraisal wells, Small scale production (EWTs) Last Updates 2009: 5 Rigs currently working in the cluster: 3 are…
USING CONTRACTS AND LEASES TO SECURE NEEDED DRILLING ASSETS Water Depth 2008 2009 2010 2011 2012 2013 - 2017 .: Petrobras XVI .: Ocean Yorktown .: Petrobras XIV .: Petrobras XVII .: Pride Mexico .: Alaskan Star .: Borgny Dolphin…
WELLS DRILLED AND TESTED IN SANTOS BASIN PRE SALT CLUSTER BLOCKS BLOCK PROSPECTS WELL TESTED/ BMS-8 TESTING BEM-TE-VI SPS-52 X BMS-9 CARIOCA SPS-50 X GUAR SPS-55 X IGUAU SPS-60 ABAR OESTE SPS-66 * BMS-10 PARATI RJS-617 X…
ACID RATE E OTHER CONTENTS PRESENT IN SANTOS BASIN PRE SALT HYDROCARBONS First oil from Tupi presented low sulfur content and a high yield of middle distillates (28API) Tupi Marlim (Campos) Acids 1,5 (mgKOH/g) 0,23 - 0,27 CO2…
10 NEW FPSOS 2012 2013 Phase 1A 2017 2020 Phase 1B Phase 1A - Projects Phase 1B - Projects 2nd phase of definitive development Phase 1a: 1st phase of definitive development, Use of consolidated or rapidly-consolidating…
PRE-SALT Managing Reservoir Uncertainties Reservoir Quality Predictability - best EOR method Subsea Layout Production System Integrity Flexible FPSOs Topsides CO2 Processing & Handling Flow Assurance
PHASE 1a COMMERCIAL CHALLENGES Take advantage of possible synergies and scale to pursue cost reduction Local content current successfull examples: Supply boat construction Subsea equipment Tubulars Motors, Valves etc…
DEVELOPMENT STRATEGY Scenario for the Pre-Salt Several blocks Operational Similar geological acquired at the Partnerships characteristics same period Operational Partnerships Challenging Water depth, shore distance, salt…
DISTINCTIVE DISCIPLINES PLANSAL Production Technology Oil Transfer and Critical Gas Transfer and Exploration Infrastructure Development Development Transportation Resources E&P Transportation Exploration FPUs Unitization Oil…
MAJOR TECHNOLOGICAL DEVELOPMENTS UNDER EVALUATION PLANSAL - Pre-Salt Development Master Plan Offshore logistical hub Water-alternating- Offshore gas (HC or CO2) produced fluid injection handling hubs CO2 storage in Extended-reach…
PROGRAM INVESTMENT FORECAST Oil Transfer Exploratory Appraisal 4.7% 1.9% Gas Transfer 5.2% Production Infrastructure 0.5% Production Development 87.7% Investment Program (%) 19% Subsea 49% 32% Wells Units
CONTINUOUS OPTIMIZATION PROCESS Improving hydrocarbon recovery... Reducing CAPEX... Planned CAPEX Planned Recovered Volume 127% 100% 100% 84% February 2008 December 2008 February 2008 December 2008
PETROBRAS EXPERTISE RECOGNITION Petroleum Economist Award: For the 4 year, Petrobras was the winner in some of the awarded categories. In 2009 the company won as the Most Enterprising Exploration Company and also in Project…
IMPRESSIVE RECORD OF ACCELERATING DEVELOPMENT 2.000.00 0 1.800.00 1.600.00 PreSalt Complete Potential View vs. Campos Basin Production (bpd) 1.200.00 Incremental View 1.000.00 Petrobras and Oil Industry expertise in…
For more information: Investor Relations www.petrobras.com.br/ri +55 21 3224-1510 petroinvestpetrobras.com.br
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