1Q12 HIGHLIGHTS AND SUBSEQUENT EVENTS First oil produced in January 2012 in Waimea Average daily production of 11.0 kboepd in the 1Q12 High operational performance of 97% in the 1Q12 (FPSO OSX-1) First cargo offloaded to Shell…
PRODUCTION DEVELOPMENT
CAMPOS BASIN Production in the Waimea Complex Production Concept FPSO OSX-1 Operational Efficiency 100% 80% OSX-1 Buoy Risers and 60% Umbilicals Wet christmas Wet tree 4 christmas tree 3 Average Efficiency 40%…
PARNABA BASIN Project Development Ongoing Works Execution Highlights Civil engineering work advanced and on schedule Part of the equipment already delivered Prepared Gas Treatment Unit (GTU) site, with earthmoving at advanced…
EXPLORATORY CAMPAIGN
CAMPOS BASIN Intensified Appraisal Campaign And New Prospective Discoveries Wildcat Wells Appraisal Wells Highlights 2012 2012 - Drilling Area OGX-78 Honolulu In progress OGX-71 Ing 3C - Successful appraisal campaign with 35 wells…
SANTOS BASIN Adding Further Value to the Basin Exploration Campaign Main Achievements Significant discovery in Fortaleza accumulation (OGX-63) in Albian (post salt) and Aptian (pre-salt) reservoirs Discovery of light oil in Natal…
PARNABA BASIN Exploration Campaign Fazenda Torro Highlights Bom Jesus 2 accumulations declared commercial and 3 others discovered 3 rigs operating simultaneously: 2 focused on the production development and 1 for exploration…
EXPLORATORY CAMPAIGN Other Basins in the Portfolio PAR-MARANHO BASIN ESPRITO SANTO BASIN COLOMBIA Waiting for IBAMA 2 dry wells drilled in committed Began seismic acquisition in environmental license blocks (PERN-1 and PERN-2)…
FINANCIAL RESULTS HIGHLIGHTS
1Q12 FINANCIAL RESULTS 1st Cargo Delivered to Shell EWT Economics Sale of 1st Cargo Extended Well Test 1st cargo (offloaded on 03/28/12) - in barrels (bbls) 547,376 R ('000) Gross Revenue 118,003 Sales taxes - Royalties…
1Q12 FINANCIAL RESULTS Exploration Expenses: Financial Statements R ('000) 1Q12 4Q11 Decrease in exploration expenses due to reduction Exploration Expenses (109,143) (300,673) 191,530 in expenses with dry/sub-commercial wells and…
STRONG CASH POSITION Cash Position Evolution Cash Allocation R billion CS Others Santander 4% 1% 8, 0 5% BTG Pactual 6, 0 6% Bradesco 27% 4, 0 Morgan Stanley 10% 2, 0 Votorantim Ita Unibanco 0, 0 HSBC 20% 12% 4Q 11 JA N…
UPCOMING EVENTS
UPCOMING EVENTS Opening of the 2nd producing well in Waimea in the coming days and of the 3rd producing well in 2012 Submission of the Development Plan of Tubaro Azul Field (Waimea) to the ANP Continue drilling development wells in…
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