2. Disclaimer
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.
4. COMPANY’S WORLDWIDE ACTIVITY
proven reserves: 15.02 billion 2006 average oil & gas
boe (SPE), from which 1.27 billion production: 2,297 Kboed (home
boe International (Dec 31st 2006) 2,054 kboed & abroad 243 kboed)
United Kingdom
New York
USA Portugal Japan
Houston Turkey
Iran China
Libya Pakistan
Mexico Senegal
Nigeria
Colombia Venezuela Singapore
Tanzania
Ecuador BRAZIL Angola
Peru Mozambique
Bolivia
Rio de
Paraguay Janeiro
Uruguay
Argentina
HEAD OFFICE TRADING GAS & POWER
DOWNSTREAM E&P REPRESENTATIVE OFFICE
SOURCE: PETROBRAS
5. Technology as a mean of achieving results...
Petrobras invested US$ 740 million in 2006 and planned US$ 800 million for 2007
E&P DOWNSTREAM SUSTAINABLE
DEVELOPMENT
PROFEX
PROAMB
PROCAP
PRODUT PROTER
PROPES PROGAS
INOVA
PROREC
PROGER
PRAVAP
7. OIL PRODUCTION HISTORY
PETROBRAS E&P BRAZIL
Thousand bpd
FUTURE PRODUCTION
DEEPWATER DRIVEN 2374
2.500
1778
2.000
1.500
1.000
500 3
d
p
b
0
1
-
1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2005 2006 2011
Year
ONSHORE OFFSHORE <= 300m OFFSHORE > 300m TARGET7
6
4
3
G
SOURCE: AFTER PETROBRAS DOMESTIC E&P RESULTS AND PERSPECTIVES, FEB 2007
8. PETROBRAS DEVELOPMENT APPROACH
Subsea Equipment and
Floating Production Units:
• Early Production Unit as a Field-
scale Lab for Definitive Systems
• Extended Well Testing & Phased
Development
• Lower Capital Exposure & Early
Cash Flow
• Anticipation of First Oil & High Level
of Flexibility
• Field-proven & Reliable Technology
• Partnerships with the Main
Suppliers
SOURCE: AFTER PETROBRAS DOMESTIC E&P RESULTS AND PERSPECTIVES, FEB 2007
9. CAMPOS BASIN:
A GIANT TECHNOLOGY LAB
Petrobras’ Records Petrobras’ Offshore Facilities
Completion & Production at 1,886m Installed Planned
Equipment Dec/2006 (2007)
OTC
OTC OTC
OTC
1992
1992 2001
2001
Subsea Trees 608 40
Subsea Manifolds 60 -
Subsea Flexible
Flowlines (km) 3,200 400
Umbilicals
(km) 1,900 200
Rigid Pipelines
(km) 1,857 275
Floating Production 28
Units
4
Fev/2002: Exploration Well at 2,853m
Monobuoys 3 -
Including Espirito Santo & Santos Basins,
SOURCE: PETROBRAS DOMESTIC E&P RESULTS AND PERSPECTIVES, FEB 2007
Piranema field NE Brazil
10. PETROBRAS’ TECHNOLOGICAL HISTORY
• First technological program - PROCAP (1986-1991): enable
production feasibility up to 1,000 m water depth
• Second version of the program – PROCAP 2000 (1992-1999):
enable production feasibility up to 2,000 m water depth
• Ability to operate competitively in deep and ultra deep waters
• Further technological developments (PROCAP 3000) will provide
conditions to extend the operational scenario to 3,000 m water
depth
SOURCE: AFTER PETROBRAS DOMESTIC E&P RESULTS AND PERSPECTIVES, FEB 2007
11. EXPANSION OF EXPLORATION FRONTIERS
GAs &
Light Oil
Producible
Heavy Oil
Producible
Heavy Oil
Gas &
Gas &
Light Oil
Light Oil
Gas
Light Oil &
Gas
Gas
SOURCE: PETROBRAS DOMESTIC E&P RESULTS AND PERSPECTIVES, FEB 2007
12. MAIN RECENT DISCOVERIES 2002-2006
~ 9.0 billion boer (2002-2006
~ 9.0 billion boer (2002-2006
Proven Reserves...............: 3,50 B boe
Prov.&Poss. Res...............: 4,00 B boe
Under Evaluation (2007).: 1,50 B boe
Sergipe-Alagoas
Light Oil
Espirito Santo
Light Oil & Natural Gas
Campos
Producible Heavy Oil & Light Oil
Santos
Light Oil & Natural Gas
SOURCE: PETROBRAS DOMESTIC E&P RESULTS AND PERSPECTIVES, FEB 2007
14. COLOMBIA
TAYRONA PLAYING
EXPLORATION
FRONTIER
Tayrona PBR operated
New Blocks PBR operated
New Blocks PBR partner
• Deepwater Tyrona Concession -
from coast line up to 3,000 m water
depth (~9,850 feet) 22,500 km2
area (2nd phase) Colombian sector
of the Caribbean Sea: Petrobras
operator 40%; Exxon 40%; and
Ecopetrol 20%.
• Petrobras operates exploration
and production onshore as well .
Proven Reserves (SPE referred to
Dec 31st 2006) is 42.3 MMBOe.
• 2006 average production 16,800
boed
SOURCE: INTERNATIONAL BUSINESS AREA, PETROBRAS
15. ARGENTINA
DEEPWATER BLOCKS PLAYING
FRONTIER EXPLORATION
E3
E1
CCM2
• Petrobras Energia operates E3
exploration and production
onshore as well . Proven
Reserves (SPE referred to Dec
31st 2006) is 324.1 MMBOe. PETROBRAS OPERATED BLOCKS
PETROBRAS NON-OPERATED BLOCKS
NON-
• 2006 average production
amounted to 107,800 boed SOURCE: PETROBRAS ENERGÍA S.A.
16. DEEPWATER NIGERIA
Akpo (OML 130):
1st oil 2008, peak
of 175 kbopd in
2009 (100%)
Agbami (OML
127): 1st oil 2008,
peak of 250
kbopd in 2009
(100%)
Proven Reserves
(SPE, 2006): 167.9
MMBO (Petrobras
share)
Petrobras share in
Akpo and Agbami
production: 70
kbopd
SOURCE: INTERNATIONAL BUSINESS AREA, PETROBRAS
17. ANGOLA
Petrobras Portfolio in Angola
Block Working Characteristics
Interest (%)
2 27,5 Producion.
34 - DW 30 Exploration.
6 40 Exploration.
Operator.
18 - DW 30 Exploration.
Operator.
26 – DW 80 Exploration.
Frontier Operator.
15 - DW 5 Exploration.
Petrobras’ share of Block 2 average production
in 2006 = 5,367 bopd
Proven Reserves (31/12/2006) = 7.0 MMBO
SOURCE: INTERNATIONAL BUSINESS AREA, PETROBRAS
18. DEEPWATER SENEGAL
PLAYING FRONTIER EXPLORATION
Edison – 55%
Petrobras – 40%
Petrosen – 5%
150<WD<3,000 m
480<WD<9,850 ft
Area 7,294 km2
SOURCE: INTERNATIONAL BUSINESS AREA, PETROBRAS
19. DEEPWATER TANZANIA
BLOCKS 5 & 6 AND
RECENTLY BLOCK 8
6
A= 9250 km2
A= 9250 km2
5
A= 10190 km2
A= 10790 km2
A= 11300 km2
PLAYING FRONTIER
EXPLORATION
A= 13270 km2
300<WD<3,000 meters
985<WD<9,850 ft
PETROBRAS 100%
SOURCE: INTERNATIONAL BUSINESS AREA, PETROBRAS
20. DEEPWATER LIBYA
UNDEREXPLORED PLAY BLOCK 18
Area: 10,307km2
PETROBRAS
200<wd<700m
operates Block 18
650<wd<2,300ft
since March 2005,
holding 70%
working interest.
SOURCE: INTERNATIONAL BUSINESS AREA, PETROBRAS
21. BLACK SEA DEEPWATER TURKEY
PLAYING FRONTIER
EXPLORATION Black
Mar Negro
Sea
PETROBRAS is the operator
with 50% working interest on
each block, in partnership
with TPAO (state owned
Turkish company)
The Blocks Kirklarelli and
Sinop, are located in the
Turkish sector of the Black
Sea, at water depth averaging
1,200 m (3,940 ft) and 2,200 m
Turkey (7,220 ft), respectively.
KIRKLARELLI BLOCK SINOP BLOCK
SOURCE: INTERNATIONAL BUSINESS AREA, PETROBRAS
22. DEEPWATER PORTUGAL
PLAYING FRONTIER EXPLORATION
PETROBRAS is the operator with
50% working interest on each
block, in partnership with Galp Camarão
Energia, 30%, and Partex, 20%
Amêijoa
The Blocks Camarão, Amêijoa,
Mexilhão and Ostra are located
offshore Peniche Basin, at water Ostra
depth ranging from 200 to 3,000
meters.
Mexilhão
SOURCE: INTERNATIONAL BUSINESS AREA, PETROBRAS
24. US GULF - PETROBRAS A SMALL PLAYER IN 2001
UNITED STATES
New Orleans
Houston
PRODUCING FIELDS
DISCOVERIES
MEXICO
PROSPECTS
SOURCE: PETROBRAS AMERICA INC
25. MATERIALIZING STRATEGY INTO ACTIONS
SMALL PLAYER LEADING PLAYER
MODEST RESERVES INNOVATION LARGE RESERVES
SHALLOW WATERS TECHNOLOGY NEW FRONTIERS
NATURAL VOCATION AND EXPERIENCE OF PETROBRAS BY
CREATING VALUE THROUGH OIL&GAS EXPLORATION AND THE
ABILITY TO MATERIALIZE PRODUCTION FROM ONSHORE TO
ULTRA DEEPWATER ENVIRONMENTS
RISK MITIGATION
• OPTIONALITY
• MATERIALITY
TECHNOLOGY PROGRAM ON
NEW EXPLORATORY
FRONTIERS
• REPEATABILITY
SOURCE: PETROBRAS AMERICA INC
26. E&P STRATEGY
UNITED STATES
New Orleans
Houston
DEEP SHELF
TD: 27,000-30,000 feet deep
DEEP WATERS
WESTERN GULF WD:1,500-2,600 feet
WD: 650-2,300 feet TD: 15,000-25,000 feet deep
TD: 16,500-23,000 feet deep ULTRA DEEPWATERS
WD:6,900-8,800 feet
TD: 27,000-30,000 feet deep
MEXICO
UNEXPLORED PROVINCE - TECHNOLOGY EDGE ULTRA DEEPWATER
MATURE PROVINCE - NEW CONCEPTS DEEP GAS RESERVOIRS
INACTIVE PROVINCE - CHALLENGING PARADIGMS WESTERNMOST GOM
IMPROVED DATA QUALITY - DETAILED G&G GARDEN BANKS
27. Petrobras America
E&P CORE AREAS – DISCOVERIES
UNITED STATES
New Orleans
Houston
COULOMB NORTH
CASCADE
COTTONWOOD
CHINOOK
ST. MALO 2002 - Cascade
2003 - Chinook & St. Malo
2004 - Coulomb North
2005 - Cottonwood
MEXICO 2006 - Megamata
SOURCE: PETROBRAS AMERICA INC
28. ULTRA DEEP LOWER TERTIARY NEW PLAY
PETROBRAS AMONGST THE MAJOR PLAYERS
Source : The Wall Street Journal - September 5th 2006
29. CASCADE-CHINOOK DEVELOPMENT
- Petrobras America operated fields - Water Depth ~ 2,500 meters (8,200 feet)
- US regulators approved Petrobras plans to bring first FPSO (*) to the US Gulf
of Mexico
- Technologies new to US Gulf of Mexico, including disconnectable turret buoy,
allowing the vessel to move offsite during hurricanes, and transportation via
shuttle tanker
Shuttle FPSO
Tanker
Gas Export FSHR
Pipeline
Chinook
Chinook
Flowline
Control Power
Umbilical Umbilical
Cascade
Cascade Tree
Manifold
(*) FPSO – Floating, Production, Storage and
Offloading facility. Petrobras has an extensive
experience in the use of FPSO with fifteen
units currently under operation offshore
Brazil.
SOURCE: PETROBRAS AMERICA INC
30. TECHNOLOGICAL SOLUTIONS
THE HURRICANE FACTOR
THE HURRICANE FACTOR SUBMERGED TURRET
PRODUCTION
GET OUT OF THE WAY!!
GET OUT OF THE WAY!!
DISCONNECTABLE
SWIVEL
SOURCE: PETROBRAS AMERICA INC
31. LEASE SALE COMPETITION
Petrobras among the top five companies submitting the
highest US$ amount of high bids in recent Lease Sales
Company Total High Bids Sum of High Bids Lease Sale 200
Petrobras America 34 45,483,774
BP Exp & Prod Inc. 31 37,469,796
Shell Offshore Inc 28 35,420,316
Cobalt International Energy 24 33,125,180
Hydro Gulf of Mexico 23 25,657,352
Company Total High Bids Sum of High Bids Lease Sale 204
Statoil Gulf of Mexico 36 138,889,688
BP Exp & Prod Inc. 91 31,015,727
Petrobras America 34 29,268,100
Devon Energy Prod. Co. 26 20,035,500
ConocoPhillips Company 24 12,341,000
33. PORTFOLIO AFTER LEASE SALES 204 & 205
Lease Sale OCS 204 Lease Sale OCS 205 - 338 blocks offshore
- 34 blocks - 26 blocks
- 145 in shallow waters
- 13 in shallow waters - 26 in deep waters - 193 in deep waters
- 21 in deep waters - 22 PBR as operator - 200 PBR as operator
- 20 PBR as operator
34. PETROBRAS AMERICA NEW-BUILD DRILLING RIGS
2009 2009
PetroRig 1 - 10,000 ft WD Sevan Driller - 10,000 ft WD
(Jurong shipyard - Singapore) (Hartong shipyard - China)
Larsen Oil & Gas Sevan Marine
39. TOTAL PRODUCTION – OIL, NGL AND NATURAL GAS
Thousand boed
6.8% p.y.
4,153
7.2% p.y.
3,494
183
285
151 *
285 * 643
2,298
2,217
2,020 101
637
96
94 142
163
274 277
168
265
2.812
2.421
1. 778
1. 684
1. 493
2004 2005 2006 Target 2012
Meta 2012 Forecast
Oi l + NGL Br az i l N at ur al Gas B r az i l 2015
Oi l + N GL I nt er nat i onal N a t ur a l Ga s I nt e r na t i ona l
* Includes non consolidated production
40. INNOVATION, HIGH HSE STANDARDS,
TECHNOLOGY AND BIOFUELS EXPERTISE
Thank you
www.petrobras.com.br
