2011 HIGHLIGHTS AND SUBSEQUENT EVENTS First oil on January 31, 2012 Efficient execution: from discovery to production in record timing (2 years) High operational efficiency with very good well performance All environmental licenses…
FINANCIAL RESULTS HIGHLIGHTS
2011 FINANCIAL RESULTS Net Financial Results: Financial State me nts - Main Ite ms R ('000) 2011 2010 Impact of interest income, net losses on hedging of future commitments in foreign currency, offset by N et Financ ial Res ult 6,120…
STRONG CASH POSITION Cash Position Evolution Cash Allocation R billion US billion Others CS 9% 4% Votorantim 8% Bradesco 30% Santander 8% Itau Unibanco BTG Pactual 34% 7% Solid cash position of R 5.5 billion, or US…
EXPLORATORY CAMPAIGN
CAMPOS BASIN Exploratory Campaign Evolution 2010 2011/2012 16 wells drilled 59 wells drilled in total, since inception No horizontal well drilled More than 90% success rate 6 producer horizontal wells drilled Several drill-stem…
CAMPOS BASIN Intensified Appraisal And New Prospective Discoveries 2011 - Drilling Area 1C OGX-50D/OGX-55HP Waimea 1C Albian 52m Highlights OGX-53D/OGX-60HP Waimea 1C Albian 71m OGX-65D/OGX-68HP Waimea 1C Albian 97m Successful…
SANTOS BASIN Adding Further Value to the Basin Exploration Campaign Main Achievements Successful drilling of 11 wells More than 70% success rate DST performed in Macei (OGX-47) and Natal (OGX-11) Accumulations with 20-25% of…
SANTOS BASIN Pre-Salt Discovery in Shallow Waters Highlights Albian Gas Interval Albian reservoir Good porosity Approximately 1,000 meters of column Dolomitized layers with open fractures and 110 meters of net pay MDT Dual-Packer…
PARNABA BASIN Exploration Campaign Fazenda Highlights Torro Bom Jesus 7 wells drilled with gas finds and 3 dry wells 70% success rate 2 accumulations declared commercial and 2 others discovered Gavio Azul 6 wildcat wells…
EXPLORATORY CAMPAIGN Other Basins in the Portfolio PAR-MARANHO BASIN ESPRITO SANTO BASIN COLOMBIA Waiting for IBAMA 2 dry wells drilled in commitment Acquiring seismic for the Lower environmental license blocks (PERN-1 and PERN-2)…
PRODUCTION
CAMPOS BASIN Record Time from Discovery to 1st Oil 1st Oil Sep 16, Granting of the Dec 25, Sail away of the FPSO 2011 preliminary and 2011 OSX-1 from the port installation license of Rio de Janeiro by IBAMA Dec 19, Flexible…
CAMPOS BASIN 1st Month of Production FPSO OSX-1 Operational Efficiency Highlights and Ongoing Production 100% Performance Electrical submersible pump working path 80% to highest operational performance 60% standards 40% Processing…
CAMPOS BASIN Production in the Waimea Accumulation Production Concept Highlights and Future Development OGX-26HP in production since Jan 2012 2 additional horizontal wells drilled, to be connected to FPSO OSX-1 in mid-2012 OSX-1…
CAMPOS BASIN Future Development of the Basin OSX-2 (SBM Keppel shipyard, Singapore) Highlights OSX-2 and OSX-3 construction on schedule and financing in place 30% of projects concluded, on average, in Singapore by SBM and Modec,…
PARNABA BASIN Project Development Execution Highlights Thermal Power Plant GE TURBINES CONTRACTED BY MPX Environmental permits already granted (LP+LI) 5 producing wells already drilled and 1 well in progress Drilled and tested…
PARNABA BASIN Production Development Timeline System pre-assembly Site activities Well Drilling EIA Project Concept Basic Project Public Hearings Preliminary Installation 1st GAS (Environmental Impact Study) license…
PARNABA BASIN Project Development Spools and headers skids Manifolds and Pumps 21
PARNABA BASIN Project Development (Contd) Works on the Rights-of-Way Gas Treatment Unit - GTU 22
UPCOMING EVENTS Continue exploration and appraisal campaigns in the Campos, Santos, Parnaba and Esprito Santo Basins Declaration of commerciality of Waimea and submit Development Plan to the ANP Connection of the two additional…
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