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"8º Foro Latibex - Petrobras Overview – Petroleum, Gas and Petrochemical”
 

"8º Foro Latibex - Petrobras Overview – Petroleum, Gas and Petrochemical”

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    "8º Foro Latibex - Petrobras Overview – Petroleum, Gas and Petrochemical” "8º Foro Latibex - Petrobras Overview – Petroleum, Gas and Petrochemical” Presentation Transcript

    • PETROBRAS PETROBRAS OVERVIEW Petroleum, Gas and Petrochemical Latibex Almir Barbassa CFO and Investor Relations Officer November 15, 2006 1
    • PETROBRAS The presentation may contain forecasts about future events. Such forecasts merely reflect the expectations of the Company's management. Such terms as "anticipate", "believe", "expect", "forecast", "intend", "plan", "project", "seek", "should", along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein. The Company is not obliged to update the presentation/such forecasts in light of new information or future developments. Cautionary Statement for US investors The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation, such as oil and gas resources, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. 2
    • PETROBRAS Integration of the Company's Activities Petrochemical Imported Imported Oil Plants H - Bio Oil Products Biodiesel Oil Products Throughput Brazilian Oil sold in Brazil in Brazil Production Ethanol International Oil International International Production Refining Sales Domestic Natural Gas Other Production Energy Renewables Imported Gas Infrastructure Industry LNG 3
    • PETROBRAS Vertical Integration Comparison Majors Average * 4,793 3,176 2,735 National Oil Companies Average ** 1,579 1,630 4,329 2011: Petrobras New Refinery will add 200 thous. bpd capacity 2,296 2010: Pasadena Refinery revamp concluded – processing 70 2,114 thous. bpd of heavy oil Product Sales (thous. bpd) 2,217 Refining (thous. bpd) 3,400 Production (thous. boed) Year 2011 * Majors: BP, Exxon, Total, Royal Dutch Shell, Chevron, Conoco and Repsol-YPF *** 2004 figures, except for Petrobras (2005) ** NOC: PEMEX, PDVSA, Saudi Amraco, KPC, Pertamina and Sonatrach Source: PIW Intelligence and Petrobras 4
    • PETROBRAS Investment Plan Business Plan 2007-2011 US$ 87.1 billion 56% 14% 49.3 U S$ 12 49.3 .1 bi 31.0 23.0 US$ 75.0 bi 1.8 1.8 2.3 3.3 23.0 3% 2.2 3.3 7.5 26% 7.5 1.0 3% 1.0 4% 12.4 9% 86% E&P Downstream G&E Brazil International Petrochemical Distribution Corporate Note: Includes International 5
    • PETROBRAS Main Projects contributing to the production growth in 2006 FPSO Cidade do P-50 FPSO Capixaba P-34 Rio de Janeiro Albacora Leste Golfinho Mod. 1 Jubarte Phase 1 Espadarte Mod. II Capacity 180,000 bpd Capacity 100,000 bpd Capacity 60,000 bpd Cap.: 100,000 bpd April 2006 May 2006 November 2006 December 2006 In 2006, two platforms, P-50 and FPSO Capixaba, have started operating. Until the end of the year, other two platforms will start-up operation, adding a production capacity of 440 thousand bpd to the country. • P-50 is currently producing 164,000 bpd and should reach its production peak by the end of the year. • FPSO Capixaba is producing 35,000 bpd and should reach its full capacity in 2007. • P-34 is being tested on the ocean and its start-up is scheduled to November. • The start-up of FPSO Rio de Janeiro was anticipated form 2007 to December 2006. 6
    • PETROBRAS Main Oil and NGL E&P Projects in Brazil – 2007-2011 Additional 2007 2008 2009 2010 2011 Capacity (bpd) 480,000 280,000 280,000 180,000 280,000 Parque Parque 2.600 das Conchas das Conchas Cidade de Vitória Cidade de Vitória 100,000 bpd 100,000 bpd Golfinho Mod. 2 Golfinho Mod. 2 Frade Frade 2011 2011 100,000 bpd 100,000 bpd ESS-130 ESS-130 100,000 bpd 2.368 2.400 100,000 bpd Thousand bpd May/2007 May/2007 Golfinho Mód. 3 Golfinho Mód. 3 2009 2009 2.374 (FPSO) (FPSO) Roncador Roncador 100,000 bpd 100,000 bpd Jubarte Jubarte 2.200 P-52 P-52 2008 2008 Roncador Roncador 2.195 Phase 2 Phase 2 180,000 bpd 180,000 bpd P-55 P-55 P-57 P-57 Dec/2007 Dec/2007 Marlim Leste 180,000 bpd 180,000 bpd Marlim Leste 180,000 bpd 180,000 bpd 2.000 P-53 P-53 2010 2011 2011 2.061 2010 180,000 bpd 180,000 bpd 1.979 2009 2009 Piranema Piranema Marlim Sul Marlim Sul 1.800 Module 2 20,000 bpd 20,000 bpd Module 2 Apr/2007 Apr/2007 P-51 P-51 180,000 bpd 180,000 bpd Roncador Roncador 1.600 2008 2008 P-54 P-54 180,000 bpd 180,000 bpd Oct/2007 Oct/2007 1.400 2007 2008 2009 2010 2011 7
    • PETROBRAS Natural gas domestic supply Million m3/day Roncador SPS25 RJS633 Cavalo (P-55) 80 ESS164 2008 2009 2010 Marinho 2010 2011 Urucu Natural gas Mexilhão 70 70 sales 2007 2009 70.6 Roncador Golfinho 65.2 Parque das 60 (P-54) 2007 Mod 2 2007 Canapu 2008 Tambaú/Uruguá Conchas 2011 2010 Peroá- Frade 50 Cangoa 2009 Jubarte Fase 2 NG non associated NG associated (P-57) Phase 1 49.4 Marlim Leste (P-53) 2010 2006 Marlim Sul 40 Manati ESS130 Mod 2 2009 2008 (P-51) 2006 2008 34.1 30 Piranema Peroá- Cangoa 27.5 2006 Roncador Phase 2 20 Jubarte (P-52) 2007 2007 Albacora Albacora (P-34) Complemental Leste 2006 Espadarte 10 (P-50) Mod. 2 2007 2007 2006 Golfinho Mod 1 2006 0 2006 2007 2008 2009 2010 2011 8
    • PETROBRAS Natural Gas supply extension in Southeast 2006 - 2008 New investments will reduce the country’s dependence on imported gas. • Production will raise from the current 15.8 million to 40 million m3 per day in 2008 in the Southeast. • Development of two new oil and gas fields in Espírito Santo; • Increase of natural gas supply from the Marlim field (Campos Basin); • Expansion of gas production in the Merluza field (Santos Basin). • Demand Flexibilization • Refineries, Distributors and flex-fuel thermoelectric plants ( LNG, diesel and alcohol) 9
    • PETROBRAS PLANGÁS – Dec. 2008 Cacimbas (20 MM m3/d) Peroá (10 MM m3/d) Lagoa parda Belo Horizonte Vitória Pólo Golfinho ESS-164 ESS- +16,3 MM m3/d (*) Ubu Golfinho + Canapu Pq. Baleias + Pq. BC10 Campinas Cabiúnas Total Southeast: Garoupa ESS-130 ESS- Caraguatatuba Rio de Janeiro 40 MM m3/d Namorado Enchova (+ 24,2 MM m3/d) REDUC Pampo RPBC Plataformas da UN-BC e UN-RIO UN- UN- Tambaú +6,4 MM m3/d (*) Mexilhão Uruguá Merluza - II Merluza •Development of new fields in Espírito Santos field Lagosta (BM-S-3/ BM-S-7, (BM- BM- (1-ESS-164 and 1-ESS-130) SPS-25) SPS- +1,5 MM m3/d (*) • Increase in Marlim supply (Campos Basin) (*) Schedules under evaluation • Merluza production expansion (Santos Basin) (*) Additional to the current supply 10
    • PETROBRAS Investment Plan – Downstream US$ 23.1 billion in the downstream ...of which US$ 14.2 billion in refining segment… 14% 24% 19% US$ 3.4 US$ 3.2 US$ 2.7 12% US$ 2.8 61% US$ 14.2 US$ 4.4 US$ 3.7 0 3. $ 26% US 13% 31% Refining Expansion Pipelines & Terminals Transport Product Quality Ship Transport Conversion Petrochemical HSE, Maintenance and Other 11
    • PETROBRAS Additional refining capacity New Refinery in Pernambuco • Investment: US$ 2.5 billion; • Throughput capacity: 200 thousand heavy oil barrels (50% Petrobras oil / 50% PDVSA oil); • Focusing diesel and LPG production maximization, the new refinery will aim the growth of oil products demand in the Northeast. •The Northeast Region, which responds for 19% of oil products demand and holds only one refinery in Bahia, will no longer be a fuel importer (either from refineries in Brazil or abroad); • Costs reduction: oil products transportation are more expensive than for crude oil. New Refinery in the USA • Petrobras has acquired 50% of the Passadena Refinery System Inc. (PRSI), located in Texas, USA; •Total Investment: US$ 370 million; •The refinery, which already has a capacity of 100,000 bbl/day, will be upgraded to handle 70,000 bbl/day of heavy oil and feedstock (including Marlim field’s production); • The upgraded refinery will be ready in four years. After the revamp project all products will match USA highest standards. 12
    • PETROBRAS Downstream Investments - Petrochemical investments Main Projects Basic Petrochemical Unit: - 150,000 bbl/d of Marlim Oil; - Products: Diesel, LPG, Ethylene, Rio de Janeiro Petrochemical Propylene, PX, Benzene and Coke. Complex Petrochemical Integrated Complex: - Polypropylene; Acrylic Complex /SAP - Polyethylene; - PTA; PTA Pernambuco - Ethylene glycol; - PET; - Styrene; Nitrogenated Fertilizers Unit III - Phenol. Fafen BA • Investments of US$ 3.3 billion in Petrochemicals; • Reducing the Brazilian deficit and adding value to Downstream production. 13