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Petrobras’ International Area to invest $15.9 bn through 2013


The Business Plan for Petrobras’ International Area calls for investments in the order of $15.9 billion between 2009 and 2013. Most of the resources will be allocated to international Exploration & Production activities (79%), trailed by Gas & Energy (8%), Refining, Transportation, Marketing and Petrochemicals (7%), and Distribution (5%).

The country that will receive most of the investments in the period will be the United States (28%), where Petrobras has a refinery in Pasadena, Texas, and exploration and production concessions in the Gulf of Mexico. Argentina, where the Company is among the main oil and natural gas producers, will be the second biggest resource destination (16%). In addition to E&P, Petrobras has marketing, refining and processing, derivative distribution, pipeline network, petrochemical and generation, and electric energy distribution businesses there. In the African continent, Nigeria and Angola will receive 12% and 5% of the investments, respectively. The remaining countries will get 17% of the resources, while new business opportunities, 22%.

In terms of production, the Company is predicting an 8.8% growth rate through 2013, from 224,000 barrels of oil equivalent per day (boed) in 2008 to 341,000 boed in 2013. When projecting production for 2020, growth is expected to be 9.0%, with production estimated at 632,000 boed at the end of the period.

In 2009, total production abroad is foreseen to be 244,000 boed, of which 142,000 barrels of oil and 103,000 barrels of natural gas, approximately. In 2013, these figures are expected to surge to 210,000 and 131,000 barrels, respectively, topping out at 409,000 barrels of oil and 223,000 barrels of natural gas in 2020.

Petrobras is present in Argentina, Bolivia, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, Venezuela, Cuba, USA, Mexico, Portugal, the United Kingdom, Turkey, China, Singapore, India, Iran, Japan, Pakistan, Angola, Libya, Mozambique, Nigeria, Senegal, and Tanzania.

Petrobras’ strategies for the International Area

* Invest in growing production in the producing areas in Brazil and abroad, optimizing and making better use of the installed infrastructure;
* Discover and appropriate reserves in Brazil and abroad, in areas of high potential, keeping the reserve/production ratio above 15 years;
* Undertake exploratory efforts in new frontiers in Brazil and abroad;
* Ensure access to natural gas reserves and production in Brazil and abroad, and in an integrated manner with Petrobras’ markets;
* Grow refining capacity in Brazil and abroad, seeking balance with Petrobras’ increased oil production and meeting the product quality levels the market demands;
* Ensure access to the target oil, derivatives, and biofuels markets, expanding performance in trading and marketing;
* Develop trade and multimodal logistics partnerships, ensuring the placement of oil, derivatives, and biofuels in the target markets;
* Make Petrobras the preferred brand among consumers, offering excellent products and services, both in Brazil and abroad;
* Perform in derivatives distribution abroad in order to access target markets.


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