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Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
Santos Basin Development
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Santos Basin Development

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Presentation of Jose Luiz Marcusso …

Presentation of Jose Luiz Marcusso
Bank of America Merrill Lynch Conference
November, 2012

Published in: Investor Relations
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  1. Santos BasinDevelopment November, 2012
  2. DISCLAIMER FORWARD-LOOKING STATEMENTSThe presentation may contain forward-looking statements We undertake no obligation to publicly update orabout future events within the meaning of Section 27A of revise any forward-looking statements, whether asthe Securities Act of 1933, as amended, and Section 21E a result of new information or future events or forof the Securities Exchange Act of 1934, as amended, that any other reason. Figures for 2012 on areare not based on historical facts and are not assurances of estimates or targets.future results. Such forward-looking statements merelyreflect the Company’s current views and estimates offuture economic circumstances, industry conditions, All forward-looking statements are expresslycompany performance and financial results. Such terms qualified in their entirety by this cautionaryas "anticipate", "believe", "expect", "forecast", "intend", statement, and you should not place reliance on"plan", "project", "seek", "should", along with similar or any forward-looking statement contained in thisanalogous expressions, are used to identify such forward- presentation.looking statements. Readers are cautioned that thesestatements are only projections and may differ materiallyfrom actual future results or events. Readers are referred NON-SEC COMPLIANT OIL AND GAS RESERVES:to the documents filed by the Company with the SEC,specifically the Company’s most recent Annual Report on CAUTIONARY STATEMENT FOR US INVESTORSForm 20-F, which identify important risk factors that could We present certain data in this presentation, suchcause actual results to differ from those contained in the as oil and gas resources, that we are not permittedforward-looking statements, including, among other to present in documents filed with the Unitedthings, risks relating to general economic and business States Securities and Exchange Commission (SEC)conditions, including crude oil and other commodity under new Subpart 1200 to Regulation S-K becauseprices, refining margins and prevailing exchange rates, such terms do not qualify as proved, probable oruncertainties inherent in making estimates of our oil and possible reserves under Rule 4-10(a) of Regulationgas reserves including recently discovered oil and gas S-X.reserves, international and Brazilian political, economicand social developments, receipt of governmentalapprovals and licenses and our ability to obtain financing.
  3. SANTOS BASIN DEVELOPMENTCURRENT PARTICIPATION 5% OF THE DOMESTIC OIL PRODUCTION 20% OF THE DOMESTIC NATURAL GAS SUPPLY
  4. SANTOS BASIN PRODUCTION AREAS Uruguá Area Mexilhão Area Merluza Area South Area Pre-Salt Area
  5. SANTOS BASIN GAS PIPELINES REVAP UGN UTGCA RPBC Mexilhão 174 Km Uruguá-Tambaú Merluza-Lagosta Lula TEFRAN Merluza-RPBC (1993, May), Lagosta (2009, April) Uruguá-Mexilhão and Mexilhão-UTGCA (Abril/2011), Lula-Mexilhão (2011, September)
  6. SANTOS BASIN PRODUCTION SYSTEMS BAÚNA E PIRACABA (SS-11)
  7. SANTOS BASIN PRODUCTION SYSTEMS MERLUZA (PMLZ-1) MEXILHÃO (PMXL-1)
  8. SANTOS BASIN PRODUCTION SYSTEMSExtended Well Test and Early Production Systems FPSO BW CIDADE DE SÃO VICENTE FPWSO DYNAMIC PRODUCER
  9. SANTOS BASIN PRODUCTION SYSTEMS URUGUÁ – TAMBAÚ (FPSO CIDADE DE SANTOS)
  10. SANTOS BASIN PRODUCTION SYSTEMS LULA (FPSO CIDADE DE ANGRA DOS REIS)
  11. SANTOS BASIN PRODUCTION SYSTEMS CARAGUATATUBA - UTGCA (ONSHORE GAS PROCESSING PLANT)
  12. OPERATION SUPPORT FACILITIES IN SANTOS CITYOpened: 2006, March (temporary installation)
  13. OPERATION SUPPORT FACILITIES IN SANTOS CITYOpened: 2007, December (temporary installation)
  14. INTEGRATED OPERATIONS CENTER (PILOT) IN SANTOS CITYOpened: 2009, July
  15. OPERATION SUPPORT FACILITIES (including the Geology Lab)Opened: 2009, October (temporary installation)
  16. GEOLOGY LAB Petrographic Description • Stratigraphic Studies Petrophysical Analysis • Sedimentological Analysis • Petrophysical Characterization Data Analysis
  17. IT AND TELECOMMUNICATIONS SUPPORT IN SANTOS CITYOpened: 2010, November (4 floors)
  18. SUPPORT FACILITIES IN SANTOS CITYOpened: 2011, March (temporary installation)
  19. OPERATION SUPPORT FACILITIES IN SANTOS CITYOpened: 2011, November (temporary installation)
  20. SANTOS BASIN DEVELOPMENTBP 2012-2016 AND STRATEGIC PLAN 2020 (FUTURE PARTICIPATION OF THE SANTOS BASIN) DOMESTIC OIL PRODUCTION AND NATURAL GAS SUPPLY (IMPORTANCE OF SANTOS BASIN) • BP: 38 new Production Systems until 2020 • 25 in Santos Basin • 24 in the Pre-Salt area • Challenge: maximizing operational performance
  21. PRODUCTION CURVE IN BRAZIL - OIL AND LNG Post-Salt, Pre-Salt and Transfer of Rights Production Curve in Brazil – Oil and LNG Production 2018 2019 2020 Franco 4 Maromba Espadarte III 2017 Sul de Guará Bonito Florim 2014 2015 2016 Lula Ext. Sul Júpiter Entorno de Iara Norte Pq. Lula Alto Iara Horst Carcará 2013 Iracema Norte Baleias (P-58) NE Tupi Sul Pq. Baleias Lula Central Piloto Sapinhoá Roncador IV Franco 5 Lula Sul Carimbé 4,200 (Cid. São Paulo) (P-62) Franco 1 Aruanã Espadarte I 2012 Piloto Lula NE Sapinhoá Norte 12% (Cid. Paraty) (Cid. Ilhabela) Carioca 1 Iara NW Baleia Azul Papa-Terra Iracema Sul Lula Norte Franco 3Thousands bpd (Cid. Anchieta) (P-61 e P-63) (Cid. 19% Franco 2 Baúna e Piracaba Roncador III Mangaratiba) (Cid. Itajaí) (P-55) 2,500 1% 28% 2,022 30% 5% 95% Stable Prod. (± 2%) 4-6% p.y. Growth 69% 42% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Post-salt Pre-salt (Concession) Transfer of Rights New Discoveries* (*) Includes new opportunities in blocks where discoveries have already been found
  22. NATURAL GAS SUPPLY AND DEMAND (MILLION m³/d) SUPPLY DEMANDPCS 9.400 kcal/m³Domestic NG Supply Thermo Power Plants Demand: Petrobras + Third Parties 52 46 81 (9,3 GW) 44 (8,0 GW) 68 (7,5 GW) To be contracted 48 6 6 6 North Region 4 32 34 35 Flexible 62 75 44 Other Regions Inflexible 12 12 11 2011 2016 2020 2011 2016 2020Supply via LNG Regasification Terminals NG Distributors Demand 65 51 41 41 41 21 14 14 Bahia Non–thermal power 7 7 7 Pecém 14 20 20 Guanabara Bay 2011 2016 2020 2011 2016 2020Bolivian Supply Petrobras Demand: Downstream + Fertilizers 30 30 30 30 26 6 6 6 Flexible 14 5 5 Fertilizers 24 24 24 Firm 3 21 25 Downstream 11 2011 2016 2020 2011 2016 2020 99 139 152 Total 99 123 147 Total Supply Demand
  23. DOMESTIC PROVED RESERVES AND EXPLORATORY SUCCESS The current reserve / production of Over the past 20 years, Petrobras corresponds to 19.2 years the proved reserves in Brazil increased by In 2011, the Brazilian total increase in 164% reserves was 1.24 billion boe. Of this total, 0.98 billion boe refers to Pre-Salt +3% Exploratory Success (Brazil) 15,71 Pre-Salt: 15,28 13,23 94%* ( 2011)+164% 9,65 57% 59% 7,53 40% 5,96 1991 1995 2000 2005 2010 2011 2009 2010 2011 * Index of exploratory success in the fields operated byProved Reserves (billion boe) Petrobras in the Pre-salt Area of Santos Basin
  24. RESERVES AND RECOVERABLE VOLUMESRapid growth in reserves from discoveries in deep waters Proved Reserves – SPE criteria Million boe Shallow-water 30.000 25.000 Pre-salt: Lula Pre-salt: and Iracema Sapinhoá 15,70 Bi boe 20.000 Whales Park, Mexilhão 15.000 Roncador 10.000 Marlim 5.000 Namorado Guaricema Garoupa Carmópolis - Onshore 0-300m 300-1500m > 1500m Pre-salts Recovery Volume Transfer of Rights * Lula/Iracema, Iara, Guará and Whales Park, ranging from 7.3 to 8.5 Billion boe
  25. MAIN DISCOVERIES IN 2012 Date Basin Field Participation Quality of Estimated Water the Oil Recoverable Volume Depth (m) Production capacity: 3,295 Feb -12 Solimões Igarapé Chibata BR (100%) 41º API 1,400 bpd of oil (Onshore) 45k m3 of gas Right to produce up to Feb -12 Santos Franco NW (TR) BR (100%) 28º API (Pre-Salt) 1,860 3.058 Bi boe Feb -12 Santos Carioca Sela BR(45%) BG(30%) RPS(25%) 27º API (Pre-Salt) Not Disclosed 2,149 34º API (Bauna) 113 MM boe (Bauna) Feb -12 Santos Bauna e Piracaba BR (100%) shallow water 32º API (Picaraba) 83 MM boe (Piracaba) > 700 MM boe of oil Feb -12 Campos Pão de Açucar BR(30%) RPS(35%) STO(35%) Pre-Salt Oil 2,800 545 MM boe of gas Right to produce up to Mar-12 Santos Tupi Northeast (TR) BR (100%) 26º Oil API (Pre-Salt) 2,131 428 MM boe BR(66%) PGL(14%) Mar-12 Santos Carcará 31º Oil API (Pre-Salt) Not Disclosed 2,027 BARRA(10%) QG(10%) Apr-12 Santos Iara Oeste BR(65%) BG(25%) PGL(10%) 21º to 26º API (Pre-Salt) 3 to 4 Bi boe (BMS-11) 2,150 Apr-12 Santos Dolomita Sul BR (100%) Pre-salt Oil Not Disclosed 1,747 Right to produce up to 2,202 June-12 Santos Sul de Guará (TR) BR(45%) BG(30%) RPS(25%) 27º API (Pre-Salt) 319 MM boe BR (40%) IBV(30%) July -12 Esp.Santo Grana Padano 15º API Not Disclosed 1,208 ANADARKO(30%) Aug-12 Ceará Pecém BR (60%) BP(40%) Oil Not Disclosed 2,129 Right to produce up to Aug-12 Santos Franco SW (TR) BR (100%) 28º to 30º Oil API 2,024 3.058 Bi barrels oil Aug-12 Sergipe Alagoas Barra BR (60%) IBV(40%) 38º API Not disclosed 2,433 light oil, gas and Aug-12 Sergipe Alagoas Moita Bonita BR (100%) Not disclosed 2,775 condensateNote: TR = Transfer of Rights
  26. 2012-2016 CAPEXImplementation Vs. Evaluation Under Implementation Under Evaluation 2012-2016 BP = All E&P projects in Brazil and projects of the remaining segments in phase IV* + Projects for the remaining segments currently in phase I, II and III. US$ 236.5 Billion US$ 208.7 Billion US$ 27.8 Billion 980 projects 833 projects 147 projects 27.7% 24.8% 17% (**) (US$ 65.5 Billion) US$ 51.7 Billion (US$ 4.6 Billion) 28% 7% (US$ 1.9 Billion) 0% 65.8% (US$ 0.1 Billion) 60.0% 3.7% 50% (US$ 141.8 Billion) (US$ 137.2 Billion) (US$ 7.8 Billion) 5% (US$ 13.9 Billion) 5.8% (US$ 1.3 Billion) 1.8% (US$ 13.8 Billion (US$ 3.7 Billion) 2.1% 1.7% (US$ 5.0 Billion) (US$ 3.5 Billion) 21% 1.5% (US$ 3.6 Billion) 0.9% (US$ 6.0 Billion) 1.6% (US$ 1.9 Billion) 1.4% 1.3% (US$ 3.8 Billion) (US$ 3.0 Billion) (US$ 3.0 Billion) ** E&P abroad E&P RTM G&E Petrochemical Distribution Biofuel Corporate * Includes budget already designated for projects under evaluation for RTM, G&E, Petrochemical, Distribution, Biofuels and Corporate
  27. 2012-2016 CAPEXExploration & Production Exploration US$ 25.4 Billion E&P US$ 131.6 billion* 24% (6) Pre-Salt Post-Salt 19% 8% 69% Transfer of Rights (US$ 25,4 Bi) (2) (17.5) 12% 69% (US$ 16,3 Bi) (US$ 89,9 Bi) Production Development US$ 89.9 Billion Production Development 34% Exploration Pre-Salt 49% (30.2) Infrastructure and Support (43.7) Post-Salt Transfer of Rights 18% (16.3) * Does not include International E&P investments
  28. EXPLORATION INVESTMENTS IN BRAZILFocus on New FrontiersInvestments focused on:• New Frontiers (Equatorial Margin and East Margin), to ensure a continued R/P ratio higher than 15 years• Consolidation and appraisal of the Pre-salt and Transfer of rights areas US$ 25.4 billion Transfer of Rights Equatorial Consolidation and Appraisal 8% Margin (2.0) Pre-salt 24% (6.0) New Frontiers East 69% (17.5) Margin Post-salt Finding Cost (US$ / boe) Concession Areas 1.56 March, 2012 Petrobras Other Companies Petrobras Costs Lower than the Majors (2007-2011): US$ 3.2 to 4.5 / boe
  29. NEW PRODUCTION UNITS - 2012-2014New platforms built domestically and abroad will contribute to production Top Side / Local Content Project Capacity 1st Oil Hull Integration Commit. Target Baleia Azul SBM 100 kbpd Sep/2012 Existing 0% 44% FPSO Cid. Anchieta Cingapura Baúna and Piracaba Jurong Odebrecht and Teekay 80 kbpd Dec/2012 60% 81% FPSO Cid. Itajaí Cingapura Cingapura Sapinhoá Pilot Cosco Shipyard Schahin/Modec 120 kbpd Jan/2013 30% 50% FPSO Cid. São Paulo China Brasfels Lula NE Pilot Keppel Shipyard QGOG/SBM 120 kbpd May/2013 30% 30% FPSO Cid. Paraty Cingapura Brasfels Papa-Terra Cosco Shipyard Quip 140 kbpd July/2013 0% 65% P-63 China Rio Grande Roncador Module III EAS Quip 180 kbpd Sep/2013 0% 65% P-55 Brasil Rio Grande Papa-Terra Natural Floatec Floatec Oct/2013 0% 65% P-61 Gas Brasfels Brasfels Parque das Baleias Queiróz Galvão Queiróz Galvão 180 kbpd Jan/2014 0% 58% P-58 Rio Grande Rio Grande Roncador Module IV Camargo Corrêa/IESA Camargo Corrêa/IESA 180 kbpd Mar/2014 0% 65% P-62 EAS EAS Sapinhoá Norte QGOG/SBM QGOG/SBM 150 kbpd Sep/2014 30% 47% FPSO Cid. Ilhabela China SBM/BRASA Lula - Iracema Sul Cosco Shipyard 150 kbpd Nov/2014 Not define 30% 47% FPSO Cid. Mangaratiba China* Note: “FPSO Cid. XX” = Leased / “P-XX” = Owned 29
  30. FPSO Cidade de Anchieta – Baleia Azul Operating since Sep 10th, 2012 Production Ramp up Interconnection of (bpd) Producing Wells Sep/12 29,700 1st Well sep/10/12 Oct/12 52,185 2nd Well sep/21/12 Nov/12 52,185 3rd Well sep/26/12 Dec/12 72,000 4th Well nov/12/12Peak (100 kbpd): Feb/13 5th Well nov/13/12 Local Content - Mandatory: 0% Forecast Accomplishment : 44%
  31. BrasFels Shipyard - RJ 4.200 Cid. São Paulo Cid. São Paulo Cid. Paraty Cid. Paraty P-61 P-61 2.500 2.022 Current Jobs: 7,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2 3 1View of BrasFels Shipyard, in Angra dos Reis – RJ (Aug 31st, 2012)(1) P-61 (LC:65%): Construction of the HULL of the TLWP and integration of TOPSIDE (deckbox and modules constructed in Singapore).(2) FPSO Cidade de São Paulo (LC:65%): Conversion of the HULL in China and integration of 15 modules, constructed in Brasfels (5 mod), Enaval (1 mod), Thailand (8 mod) and China (2 mod).
  32. NEW PRODUCTION UNITSPlatforms under construction or already contracted will meet mid-term needs 8 Replicant FPSOs for Pre-Salt • Oil Production Capacity: 150,000 bpd per unit • Installation in Pre-salt areas BMS-9 and BMS-11 • Hulls under construction at Rio Grande Shipyard • Contracts approved for the construction and integration of the topside modules of the six first units: DM/TKK, IESA, Tome/Ferrostaal, Mendes Jr/OSX • These contracts total US$ 4,5 billion • The two remaining topside modules and integration package contracts are expected to be awarded by 2013 with the same companies 4 VLCCs Conversion to FPSOs • Oil Production Capacity: 150,000 bpd per unit • Installation in Transfer of Rights Areas (Franco and Nordeste de Tupi) • Conversion will be made at the Inhauma Shipyard • Two units will be converted by 2014 and the other two by 2015 • The next stage will involve installing the oil and gas processing and production plant modules and integrating the units
  33. P-66 P-66 P-70 P-70Rio Grande Shipyard – ERG1 - RS P-67 P-67 P-71 P-71 P-68 P-68 P-73 P-73 4.200 P-72 P-69 P-69 7 2.500 2.022 P-55 P-55 6 Empregos Atuais:3,500 Current Jobs: 3.500 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 5 4 1 3 3 2View of Rio Grande Shipyard ERG1 – RS (Sep 3rd, 2012)(1) Steel plates of Ecovix; (2) Sub-blocks of the Hulls of the replicants of Ecovix; (3) QUIP modules for Topside and integration of P-55; (4) Modules of the IESA; (5) Pre edification area , withdetails for the yellow blocks of the Goliath crane type of the Konecranes (biggest crane in the world: 210m high and capacity of 2 thousand ton) delivered in Aug/12; (6) Work integration of P-55;(7) Work construction of Rio Grande Shipyard ERG 2, where will be constructed 3 Drilling Rigs of Setebrasil (NS Cassino, NS Curumim e NS Salinas)
  34. Inhaúma Shipyard- RJ 4.200 P-74 2.500 2.022 Current Jobs: 109 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Overview of Inhaúma Shipyard, in Rio de Janeiro – RJ (Aug 31st, 2012)(1) P-74: Hull´s conversion of VLCC ship (structural reinforcement of the hull, enlargement, reform and adaptation of arrangement, installations of equipments and adaptation of anchorage system).
  35. DRILLING RIGS AVAILABILITY Necessity met with imported and domestic units Drilling Rigs: Imported vs. Domestic 42 42 42 42 42(Water Depth > 2.000m) Number of Drilling Rigs 33 new domestic drilling rigs from 2016 on: Local Content between 55% and 65% • Mid-term needs for drilling rigs are now largely satisfied. Future intermediate demand will be limited to specific situations and needs. • Starting in 2016, Brazilian built rigs expected to begin replacing internationally built fleet as their contracts expire (and subject to total fleet needs). • If for any reason the domestic rigs are not completed as scheduled, Petrobras has the possibility of renewing some or all of expiring leases.
  36. NATURAL GAS FLOWProjects to transport natural gas to the coast include gas pipelines and FLNG
  37. COMPLEXITY OF THE OPERATIONS IN SANTOS BASIN • Distance of about 300 km from the coast • Huge demand of air and sea transportation • Complexity of the gas network • Operation of 20 own platforms and the onshore gas processing plant, involving different partners in 18 platforms • Wells and platforms with large production, demanding efficient surveillance and monitoring • Operational and environmental risks • Need for quick and efficient response to any contingencies
  38. FUTURE PETROBRAS OPERATIONS SUPPORT FACILITIES IN SANTOS CITY • 25,000 m2 of land • 3 towers for about 2,200 people each • First tower: occupation in early 2014
  39. FUTURE INTEGRATED OPERATIONS CENTER IN SANTOS CITYin Santos Basin Operations Unit (to be opened: early 2014) Around 2,900 m2 of the second basement and the 4th floor with another 1,190 m2 area
  40. CONSTRUCTION SITE (Overview – October/2012)FUTURE PETROBRAS OPERATIONS SUPPORT FACILITIES IN SANTOS CITY
  41. CONSTRUCTION SITE (Overview – Nov 1st, 2012)FUTURE PETROBRAS OPERATIONS SUPPORT FACILITIES IN SANTOS CITY
  42. CONSTRUCTION SITE (Overview – Nov 4th, 2012)FUTURE PETROBRAS OPERATIONS SUPPORT FACILITIES IN SANTOS CITY
  43. SANTOS BASIN INTEGRATED OPERATIONS CENTER(Main Solutions to ensure high operational performance) • Predictive solutions for maintenance and integrity of equipment (Condition Based Maintenance, Critical Equipment Management and Monitoring of Electrical Facilities) • Contingency and Telemedicine • Operational Support • Solutions to support the processes integration and predictive analyses, throughout the surveillance for:  Topside and process plant operations  Well operations  Reservoir geology and engineering • Integrated Planning and Logistics (IPL) • Integration of projects implementation • Collaboration with suppliers and vendors • Drilling Center
  44. CONCLUSION – SANTOS BASIN DEVELOPMENTA Portfolio of opportunities and challenges OPPORTUNITIES • Abundant oil and gas reserves • A growing oil production and natural gas supply • Monetizing natural gas CHALLENGES • Maximizing scale, standardization and integration (critical resources) and developing infrastructure and logistics • Developing new technologies and industry to meet local content requirements • Maximizing operational performance
  45. Information:Investor Relations+55 21 3224-1510petroinvest@petrobras.com.brinvestors@petrobras.comwww.petrobras.com.br/ir 45

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