Agenda



 The presentation may contain forecasts about future events. Such
forecasts merely reflect the expectations of t...
Agenda


Introduction - Pre-Salt

       Santos Basin Pre-Salt Development Strategy


          Technological Challenges

...
Agenda


Introduction - Pre-Salt

       Santos Basin Pre-Salt Development Strategy


          Technological Challenges

...
It was like this approximately 120 million years ago




Inter tidal and Sub tidal stromatolites – Australia – recent sedi...
Recent Stromatolites - Lagoa Salgada, RJ
Pre-Salt – Reservoirs
Pre-Salt Province
Seismic Line / Geological Section -
                                 Santos Basin
                                        ...
Some Location Details



                             Evaluation Plans
                             approved by ANP

     ...
General Data - Tupi Area



                                  Tupi Area



 Petrobras (65%), BG (25%),                    ...
General Data - Tupi Area
PA do RJS-628

                              Área: 378 Km2


                                    ...
General Data - Iara



                                Iara Area




                      •Petrobras (65%), BG (25%),
   ...
Agenda


Introduction - Pre-Salt

       Santos Basin Pre-Salt Development Strategy


          Technological Challenges

...
Development Strategy (Ex: Tupi)

                        1st Oil – EWT               1st Oil – Tupi Pilot                 ...
Development Strategy by Phases

                  Phases                Phase 0: Information Acquisition                  ...
Production Design

                                                • 2 Well Production: 3-RJS-646 and P1
             1st ...
Pilot Project Scope




                                      Production Pilot
                                      5 pro...
Gas exportation for the Tupi Pilot




                      UGN        UTGCA
                      RPBC




             ...
Agenda


Introduction - Pre-Salt

       Santos Basin Pre-Salt Development Strategy


          Technological Challenges

...
Technological challenges



                Reservoir Characterization and
                 Engineering
                 F...
Technological challenges



        Salt drilling   Well Drilling and Completion
                          Deviation of th...
Technological challenges



               Subsea Engineering
                Qualification of risers for water depth of
 ...
Technological challenges




                  Flow Assurance and Artificial
                   Lift
                    P...
Technological challenges




                    Floating Production Units
                     Mooring in water depths of...
Technological challenges



               Logistics for the Associated Gas
                 More suitable materials for e...
Petrobras Technological Corporate
          Programs




                     PROPES


                       PROSAL

TECH...
PRO-SAL - Pre-Salt Technological Program

   CENPES
                    Objective:
                    Develop and dissemi...
Agenda


Introduction - Pre-Salt

       Santos Basin Pre-Salt Development Strategy


          Technological Challenges

...
Logistics – Petrobras strategy

Implemented culture for running fast track projects: Golfinho FPSOs,
Plangas FPSOs, Roncad...
Economic Challenges




                    CAPEX DISTRIBUTION

                                     19%
         20%




...
Agenda


Introduction - Pre-Salt

       Santos Basin Pre-Salt Development Strategy


          Technological Challenges

...
Petrobras Approach for Pre-Salt
              Development (Internal Process)


The Effort x Time analysis shows that the i...
PLANSAL Structure


                                              Exploration
                                            ...
Agenda


Introduction - Pre-Salt

       Santos Basin Pre-Salt Development Strategy


          Technological Challenges

...
Production Platforms Scenario


National Content Demand;


Resources Competition with local shipbuilding industry;


Large...
Production Platforms Construction Strategy


New infrastructure for building Production Platforms in Rio Grande City – RS.
Production Platforms Construction Strategy

Field tested technology for FPSO hull construction;


Standardization of FPSO ...
Production Platforms Construction Strategy


Basic project developed by Petrobras/CENPES;


Supply – critical items acquir...
Subsea Rigid Pipelines Scenario



Pipe manufacturer market highly committed;


Few number of suitable pipeline lay down v...
Subsea Rigid Pipelines Implementation
          Strategy

Pipeline lay down Vessel availability:

       Anticipate slot a...
Drilling Rigs Contract Strategy (28 units)



Significant number (25) of drilling rigs under construction to be
received u...
New Rig demands after 2013


Defining minimum necessary technical characteristics for development
of new pre-salt fields;
...
Logistics Contract Strategy



146 Vessels (PSV – Platform Supply Vessel, AHTS – Anchor Handling
Tug Supply, and LH – Line...
Subsea Equipments and Laying Vessels
         Contract Strategy

Subsea Equipment:

      Long Term Contracts, with:
     ...
Well Equipments and Services

Well Equipments:

       Long Term Contracts, with:
            minimum consumption guarante...
Agenda


Introduction - Pre-Salt

       Santos Basin Pre-Salt Development Strategy


          Technological Challenges

...
Conclusion




• Petrobras has a worldwide recognized deepwater experience to
address technical and comercial challenges f...
Thank you!



             Question and Answer Session
             Visit our website: www.petrobras.com.br/ri

          ...
18 09-2008 José Miranda Formigli Filho na Rio oil and Gas Expo Conference no Rio de Janeiro (somente em inglês)
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18 09-2008 José Miranda Formigli Filho na Rio oil and Gas Expo Conference no Rio de Janeiro (somente em inglês)

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18 09-2008 José Miranda Formigli Filho na Rio oil and Gas Expo Conference no Rio de Janeiro (somente em inglês)

  1. 1. Agenda 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.
  2. 2. Agenda Introduction - Pre-Salt Santos Basin Pre-Salt Development Strategy Technological Challenges Economical and Logistics Challenges PLANSAL Planning and Governance Commercial Strategies Conclusion
  3. 3. Agenda Introduction - Pre-Salt Santos Basin Pre-Salt Development Strategy Technological Challenges Economical and Logistics Challenges PLANSAL Planning and Governance Commercial Strategies Conclusion
  4. 4. It was like this approximately 120 million years ago Inter tidal and Sub tidal stromatolites – Australia – recent sedimentation
  5. 5. Recent Stromatolites - Lagoa Salgada, RJ
  6. 6. Pre-Salt – Reservoirs
  7. 7. Pre-Salt Province
  8. 8. Seismic Line / Geological Section - Santos Basin E W Top of the Albian Top of the K Sea bed Top of the Salt Base of the Salt Ri f t f the Top o if t tra-R D is c In Basement 0 5 10 15 20 km
  9. 9. Some Location Details Evaluation Plans approved by ANP Parati – 1-RJS-617 Tupi – 1-RJS-628 Carioca – 1-SPS-50 Caramba – 1-SPS-51 Guará – 1-SPS-55 Evaluation Plans being prepared/under negotiation Bem-Te-Vi – 1-SPS-52 Júpiter – 1-RJS-652 Iara – 1-RJS-656 10
  10. 10. General Data - Tupi Area Tupi Area Petrobras (65%), BG (25%), Oil viscosity around 1 cP Petrogal (10%) GOR around 230 m3/m3 Heterogeneous layered carbonates – microbiolates Initial pressure 580 kgf/cm2 with variable reservoir quality Low TAN (Total Acid Water Depth about 2,200 m BM-S-11 Number) (TUPI) Salt layers with thickness – CO2 in the associated gas up to 2,000 m (Tupi: 8 - 12%) Well tests indicate potential Concern with flow flow rates of 15-20 k bopd assurance due to wax deposition in pipes API: 28-30º
  11. 11. General Data - Tupi Area PA do RJS-628 Área: 378 Km2 Tupi Area Selected Area for the Pilot: 115 km2 Area of the Appraisal Plan: 1974 km2 The main reservoir in the Pre-Salt is known as the Pólo SAG reservoir. 10 km Two other carbonate reservoirs are found in the area (RIFT, COQUINAS). The preliminary estimates for the recoverable volume for the whole Tupi area are between 5 and 8 billion bbl
  12. 12. General Data - Iara Iara Area •Petrobras (65%), BG (25%), Petrogal (10%) •Area of the Appraisal Plan: 300 km2 •The preliminary estimates for the recoverable volume for Iara area are between 3and 4 billion bbl •Water Depth about 2,230 m • Reservoir Depth about 6,080 m • API: 26-30º
  13. 13. Agenda Introduction - Pre-Salt Santos Basin Pre-Salt Development Strategy Technological Challenges Economical and Logistics Challenges PLANSAL Planning and Governance Commercial Strategies Conclusion
  14. 14. Development Strategy (Ex: Tupi) 1st Oil – EWT 1st Oil – Tupi Pilot Significant Tupi (Mar/09) (Dec/10) production level 2007 2009 2010 2012 ..... 2017 ..... t Information Acquisition Definitive Development Phases Phase 0 Phase 1A Phase 1B Focus EWT (Mar/2009), Tupi Pilot and Implementation of “X” production units • Implementation of “Y” Appraisal Wells (Replicant FPSOs) production units. • Analyse water and gas/CO2 injection behavior • Area Delimitation • Test adjustments on FPU related to CO2 • Analyse reservatoir flow Objective • Test improvements in well projects • Fractured Well performance • Apply previous dominated concepts and technologies with necessary adjustments to • Complete sampled core reach a significant production by 2017 • Material analysis X CO2 • Aggregate inovative technical solutions to optimize project performance
  15. 15. Development Strategy by Phases Phases Phase 0: Information Acquisition Significant Programs Phase 1: Definitive Development production level BMS – 11 Tupi Dec BMS – 9 Carioca Nov BMS – 10 Parati Apr BMS – 9 Guará Dec BMS – 21 Caramba Dec BMS – 8 Bem-Te-Vi BMS – 11 Iara BMS – 24 Jupiter Gas Transportation Oil Transportation Infra - Logistics Oil Utilization Gas Commercialization Phase 0: Information Acquisition: Appraisal Wells + EWT Tupi + 7 EWTs in other areas + Tupi&2Anticipated Pilots Phase 1 – Definitive Development Phase 1a – 8 FPSOs + Gas Transp.1a + Oil Transp.1a + Infra + Oil Utilization1a + Gas Commercialization 1a Phase 1b – “N” FPUs + Gas Transp.1b + Oil Transp.1b + Oil Utilization1b + Gas Commercialization
  16. 16. Production Design • 2 Well Production: 3-RJS-646 and P1 1st Oil: March/2009 • Expected Flow: 14.000 bpd • Test Duration: 15 months FPSO BW Cidade de São Vicente LDA: 2200m 6 “ PRODUCTION 6“ PRODUCTION 4” SERVICE 4” SERVICE EHU EHU PHASE 3 LINE WELL 3-RJS-646 RELOCATION 3 MONTHS DRILL PHASE 1 WELL P1 PHASE 2 WELL 3-RJS-646 WELL P1 6 MONTHS 6 MONTHS
  17. 17. Pilot Project Scope Production Pilot 5 producers; 2 water injectors; 1 gas injector Connected to a Spread Mooring FPSO Production start-up scheduled for December, 2010. CO2 will be separated and reinjected in the reservoir. Gas will LEGEND flow to Mexilhão (shallow water gas PIPELINE field, through a 200 km gas pipeline), WATER OIL N Capacities: GAS INJECTION 100,000 bopd and 4MMm3/day (gas) Main goal: investigate recovery Reservoir Reservoir mechanisms and well geometries.
  18. 18. Gas exportation for the Tupi Pilot UGN UTGCA RPBC 14 5 Km PMXL 170 Km 21 URG 2K So m lu tio 21 n 6 fo Km rt he PMLZ-1 Pi lo t Tupi Area TEFRA Existing Under study N Building
  19. 19. Agenda Introduction - Pre-Salt Santos Basin Pre-Salt Development Strategy Technological Challenges Economical and Logistics Challenges PLANSAL Planning and Governance Commercial Strategies Conclusion
  20. 20. Technological challenges Reservoir Characterization and Engineering Facies definition from seismic data. Internal reservoir characterization, with focus on the main heterogeneities. Secondary recovery: technical feasibility of water and gas injection. Geomechanics of the surrounding rocks with depletion.
  21. 21. Technological challenges Salt drilling Well Drilling and Completion Deviation of the wells into the salt zone. Sea bed Hydraulic fracture in horizontal wells. Wellbore materials, resistant to high CO2 content. Evaporitic session Slow penetration in the reservoir. Extended Reach Wells.
  22. 22. Technological challenges Subsea Engineering Qualification of risers for water depth of 2,200 m, considering CO2 and high pressure. Scenario for riser towers, SCRs with lazy wave and other technologies. Qualification of thermal insulated flowlines for water depths of 2,200 m. Flowlines for high pressure gas injection
  23. 23. Technological challenges Flow Assurance and Artificial Lift Preventing hydrate formation Wax deposition in long pipelines. Scaling control Temperature management along the lines
  24. 24. Technological challenges Floating Production Units Mooring in water depths of 2,200 m Interaction with the riser’s system Scenario for platforms with direct access to the wells (SPAR, FPDSO).
  25. 25. Technological challenges Logistics for the Associated Gas More suitable materials for equipment dealing with high CO2 concentration gas streams. Gas pipeline larger than 18” in water depth of 2,200 m. Long distance to shore (300 km). Scenario for new technologies offshore: LNG, CNG, GTL, GTW, etc.
  26. 26. Petrobras Technological Corporate Programs PROPES PROSAL TECHNOLOGY PROGRAM ON NEW EXPLORATORY FRONTIERS
  27. 27. PRO-SAL - Pre-Salt Technological Program CENPES Objective: Develop and disseminate technologies to incorporate reserves and to develop the production of the recent discoveries in the pre-salt section. Projects’ Portfolio: Well construction for the pre-salt section (drilling fluids, cement resistance, stimulation techniques, 137 Laboratories geomechanical model, liner drilling, well control in 30 Pilot Plants the salt zone, multilaterals). Geosciences (chemical stratigraphy, core-log-test integration, geomechanical model and fracture distribution, pre-salt imaging, seismic attributes) Reservoir Engineering: Recovery optimization
  28. 28. Agenda Introduction - Pre-Salt Santos Basin Pre-Salt Development Strategy Technological Challenges Economical and Logistics Challenges PLANSAL Planning and Governance Commercial Strategies Conclusion
  29. 29. Logistics – Petrobras strategy Implemented culture for running fast track projects: Golfinho FPSOs, Plangas FPSOs, Roncador 1st DP FPSO, … ; Long run standardization program for most well design/ related equipment, as well as subsea hardware (wellheads, subsea trees, flexible lines, …); Extending this strategy to FPU design; ex: Opportunity FPSOs, FPSO “Flex”; Established “batch orders” with key suppliers for long lead items. Mobilized fleet + current negotiations with contractors for rigs, laying vessels, anchor handlers, … ; Established long term contracts with Service Companies. Interacting with the market for gas transportation to shore through alternative solutions in relation to traditional trunk line (LNG, CNG, GTW,…); Negotiations with partners for project’s scope and budget approvals.
  30. 30. Economic Challenges CAPEX DISTRIBUTION 19% 20% 31% 18% 2% 9% 1% 0% Residual Value Processing Plants Exportation Surf Gathering FPU Completion Drilling Abandonment
  31. 31. Agenda Introduction - Pre-Salt Santos Basin Pre-Salt Development Strategy Technological Challenges Economical and Logistics Challenges PLANSAL Planning and Governance Commercial Strategies Conclusion
  32. 32. Petrobras Approach for Pre-Salt Development (Internal Process) The Effort x Time analysis shows that the initial main focus of PLANSAL is strategy definition followed by project implementation phase. PLANSAL Effort Cluster Strategic Plan and Integrated Projects Development Model (Pre-Salt Committee) Programs Guidelines Project Implementation (Areas) 2009 Time Periodic Reviews > 2020 Pre-Release of Master Plan
  33. 33. PLANSAL Structure Exploration Exploration Production Production Production Production Oil Transfer, Oil Transfer, Gas Transfer, Gas Transfer, Subprogram Subprogram Development Development Infrastructure Infrastructure Transportation Transportation Processing, Processing, Transportation Program Planning, Monitoring and Management Transportation Program Planning, Monitoring and Management Subprogram Subprogram Subprogram Subprogram and Utilization and Utilization and and Commercialization Commercialization Subprogram Subprogram • Logistics • Oil Transportation and • Gas Transportation and Utilization Marketing • Transportation • Oil Transportation– E&P • Gas Transportation – E&P Environmental Licensing Plan Joint Ventures Management Plan Unitization Plan • Equipments and Drilling Services, Logistic, Wells and Submarine Critical Resources Availability Plan • Equipments and Services for Pipelines, Floating Productions Units and Facilities • CO2 use • Reservoir Drainage Technology Development Plan • Use and storage of gas • Concepts of Floating Production Units Human Resources Plan
  34. 34. Agenda Introduction - Pre-Salt Santos Basin Pre-Salt Development Strategy Technological Challenges Economical and Logistics Challenges PLANSAL Planning and Governance Commercial Strategies Conclusion
  35. 35. Production Platforms Scenario National Content Demand; Resources Competition with local shipbuilding industry; Large offshore platforms demand on short-term schedule; Significant capacity increment of national marine/offshore construction sites.
  36. 36. Production Platforms Construction Strategy New infrastructure for building Production Platforms in Rio Grande City – RS.
  37. 37. Production Platforms Construction Strategy Field tested technology for FPSO hull construction; Standardization of FPSO hull, including all marine systems, facilities and accommodations; FPSO hulls construction made by large experienced companies; New hull building cost similar to converted hull’s cost due to scale effect Standardization of FPSO´s Top sides whenever possible; Sequence of 8 FPSO units
  38. 38. Production Platforms Construction Strategy Basic project developed by Petrobras/CENPES; Supply – critical items acquired by Petrobras, other items acquired by EPC Contracts; Modules manufacturing in existing construction sites or to be prepared with low investiment; Number of module contracts depends on plant configuration and facilities (waiting for EWT data); Two or three big contracts for “Integration and commissioning”, under analysis.
  39. 39. Subsea Rigid Pipelines Scenario Pipe manufacturer market highly committed; Few number of suitable pipeline lay down vessels available in International Market; Ultra deep water depth sites; Irregular seabed pipeline routes; Due to the water depth, it is recommended to use high strength steel pipe (API 5L X70/80). National industry is getting prepared to supply this kind of material.
  40. 40. Subsea Rigid Pipelines Implementation Strategy Pipeline lay down Vessel availability: Anticipate slot acquisition of new and existing vessels; Construction of a new vessel in Joint venture with a experienced Operator EPCI Contracting Philosophy; Combination of above strategies;
  41. 41. Drilling Rigs Contract Strategy (28 units) Significant number (25) of drilling rigs under construction to be received until 2012; Construction of new units, specifically in Brazil, to be delivered from 2014 and on (in analysis); Hiring of extra existing units in global market, if necessary.
  42. 42. New Rig demands after 2013 Defining minimum necessary technical characteristics for development of new pre-salt fields; Evaluating projects of drill units that better attend these requirements; Evaluating the infra-structrure installed capacity; Studying hiring strategies that makes feasibly the extremelly significant investiments on competitive bases with international market.
  43. 43. Logistics Contract Strategy 146 Vessels (PSV – Platform Supply Vessel, AHTS – Anchor Handling Tug Supply, and LH – Line Handling) and Helicopters: Operation is pool regime; Bids in advance that allows the construction Vessels constructed in Brazil; Contract of existing units, if necessary
  44. 44. Subsea Equipments and Laying Vessels Contract Strategy Subsea Equipment: Long Term Contracts, with: minimum consumption guarantee; standard products; antecedence that allows investments in industrial enlargement and/or new companies entry in Brazil. Vessels (PLSV): Long Term Contracts, with: Additional units for Pre-Salt (increase actual fleet); Traditional suppliers will be invited for bids; Anticipation that allows the construction.
  45. 45. Well Equipments and Services Well Equipments: Long Term Contracts, with: minimum consumption guarantee traditional suppliers will be invited to tender antecedence that allows investments in industrial enlargement and/or new companies establishing in Brazil. Well Services: Long Term Contracts, with: anticipation that allows investments; Scale effect for rising competition.
  46. 46. Agenda Introduction - Pre-Salt Santos Basin Pre-Salt Development Strategy Technological Challenges Economical and Logistics Challenges PLANSAL Planning and Governance Commercial Strategies Conclusion
  47. 47. Conclusion • Petrobras has a worldwide recognized deepwater experience to address technical and comercial challenges for Pre-salt appraisal and development • A new paradigm will be established for conceptual design applied to Santos Basin Pre-salt cluster production development and logistical support • There are tremendous opportunities for already installed and newcomers in Brazilian oil&gas equipment suppliers and service companies due to the scale provide by upstream portfolio • Pre-salt will start commercial production in 2010, with a steep ramp- up on the following years, reaching a significant contribution to Petrobras oil and gas production throughout next decade, as will be announced by next revision of our Strategic Plan.
  48. 48. Thank you! Question and Answer Session Visit our website: www.petrobras.com.br/ri For more information contact: Petróleo Brasileiro S.A - PETROBRAS Investor Relations Department E-mail: petroinvest@petrobras.com.br Av. República do Chile, 65 – 22º floor 20031 912 – Rio de Janeiro, RJ (55-21) 3224 1510 / 3224 9947

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