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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.

The Company is not obliged to update the presentation/such forecasts in light of new information or

Agenda

IntroductionIntroduction -- PrePre--SaltSalt SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment
IntroductionIntroduction -- PrePre--SaltSalt
SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment StrategyStrategy
TechnologicalTechnological ChallengesChallenges
EconomicalEconomical andand LogisticsLogistics ChallengesChallenges
PLANSALPLANSAL PlanningPlanning andand GovernanceGovernance
CommercialCommercial StrategiesStrategies
ConclusionConclusion
PlanningPlanning andand GovernanceGovernance CommercialCommercial StrategiesStrategies ConclusionConclusion

Agenda

IntroductionIntroduction -- PrePre--SaltSalt SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment
IntroductionIntroduction -- PrePre--SaltSalt
SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment StrategyStrategy
TechnologicalTechnological ChallengesChallenges
EconomicalEconomical andand LogisticsLogistics ChallengesChallenges
PLANSALPLANSAL PlanningPlanning andand GovernanceGovernance
CommercialCommercial StrategiesStrategies
ConclusionConclusion
PlanningPlanning andand GovernanceGovernance CommercialCommercial StrategiesStrategies ConclusionConclusion

It was like this approximately 120 million years ago

It was like this approximately 120 million years ago Inter tidal and Sub tidal stromatolites –

Inter tidal and Sub tidal stromatolites – Australia – recent sedimentation

this approximately 120 million years ago Inter tidal and Sub tidal stromatolites – Australia – recent

Recent Stromatolites - Lagoa Salgada, RJ

Recent Stromatolites - Lagoa Salgada, RJ

Pre-Salt – Reservoirs

Pre-Salt – Reservoirs
Pre-Salt – Reservoirs

Pre-Salt Province

Pre-Salt Province

Seismic Line / Geological Section - Santos Basin

E

W Top of the Albian Top of the K Sea bed Top of the Salt
W
Top of the Albian
Top of the K
Sea bed
Top of the Salt
Base of the Salt
of the Rift
Top
Disc Intra-Rift
Basement
0
5 10
15
20 km
Top of the K Sea bed Top of the Salt Base of the Salt of the

Some Location Details

Some Location Details Evaluation Plans approved by ANP Parati – 1-RJS-617 Tupi – 1-RJS-628 Carioca –

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

General Data - Tupi Area

Tupi Area
Tupi Area
Petrobras (65%), BG (25%), Petrogal (10%) Oil viscosity around 1 cP GOR around 230 m
Petrobras (65%), BG (25%),
Petrogal (10%)
Oil viscosity around 1 cP
GOR around 230 m 3 /m 3
Heterogeneous layered
carbonates – microbiolates
with variable reservoir quality
Initial pressure 580 kgf/cm 2
Low TAN (Total Acid
Number)
Water Depth about 2,200 m
BM-S-11
(TUPI)
Salt layers with thickness –
up to 2,000 m
CO2 in the associated gas
(Tupi: 8 - 12%)
Well tests indicate potential
flow rates of 15-20 k bopd
Concern with flow
assurance due to wax
deposition in pipes
API: 28-30º
potential flow rates of 15-20 k bopd Concern with flow assurance due to wax deposition in

General Data - Tupi Area

PA do RJS-628 PA do RJS-628 2 Área: 378 Km 2 Área: 378 Km Pólo
PA do RJS-628
PA do RJS-628
2
Área: 378 Km 2
Área: 378 Km
Pólo
Pólo
10 10
km
km
Tupi Area Selected Area for the Pilot: 115 km2 Area of the Appraisal Plan: 1974
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
SAG reservoir.
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
The preliminary estimates for the recoverable volume for the whole Tupi area are between 5 and

General Data - Iara

Iara Area •Petrobras (65%), BG (25%), Petrogal (10%) •Area of the Appraisal Plan: 300 km2
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
area are between 3and 4 billion bbl •Water Depth about 2,230 m • Reservoir Depth about

Agenda

IntroductionIntroduction -- PrePre--SaltSalt SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment
IntroductionIntroduction -- PrePre--SaltSalt
SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment StrategyStrategy
TechnologicalTechnological ChallengesChallenges
EconomicalEconomical andand LogisticsLogistics ChallengesChallenges
PLANSALPLANSAL PlanningPlanning andand GovernanceGovernance
CommercialCommercial StrategiesStrategies
ConclusionConclusion
PlanningPlanning andand GovernanceGovernance CommercialCommercial StrategiesStrategies ConclusionConclusion

Development Strategy (Ex: Tupi)

1st Oil – EWT Tupi (Mar/09)

1st Oil – Tupi Pilot

(Dec/10)

Significant

production level

20072007 20092009 20102010 20122012 20172017 tt Information Acquisition Definitive Development Phases Phase 0
20072007
20092009
20102010
20122012
20172017
tt
Information Acquisition
Definitive Development
Phases
Phase 0
Phase 1A
Phase 1B
EWT
(Mar/2009),
Tupi
Pilot
and
Implementation of “X” production units
(Replicant FPSOs)
• Implementation
production units.
of
“Y”
Appraisal Wells
• Analyse water and gas/CO 2 injection behavior
• Area Delimitation
• Test adjustments on FPU related to CO 2
• Analyse reservatoir flow
• Test improvements in well projects
• Fractured Well performance
• Complete sampled core
• Apply previous dominated concepts and technologies with necessary adjustments to
reach a significant production by 2017
• Material analysis X CO2
• Aggregate inovative technical solutions to optimize project performance
FocusObjective
• Material analysis X CO2 • Aggregate inovative technical solutions to optimize project performance FocusObjective

Development Strategy by Phases

Phases Programs
Phases
Programs

BMS – 11 Tupi

BMS – 9 Carioca

BMS – 10 Parati

BMS – 9 Guará

BMS – 21 Caramba

BMS – 8 Bem-Te-Vi

Phase 0: Information Acquisition

Phase 0: Information Acquisition Phase 1: Definitive Development
Phase 0: Information Acquisition Phase 1: Definitive Development
Phase 0: Information Acquisition Phase 1: Definitive Development
Phase 1: Definitive Development

Phase 1: Definitive Development

Dec
Dec

Nov

Apr

Dec

Dec
Dec

Significant

production level

BMS – 11 Iara

BMS – 24 Jupiter

Gas Transportation

Oil Transportation

Infra - Logistics

Oil Utilization

Gas Commercialization

Infra - Logistics Oil Utilization Gas Commercialization Phase 0: Information Acquisition: Appraisal Wells + EWT

Phase 0: Information Acquisition: Appraisal Wells + EWT Tupi + 7 EWTs in other areas + Tupi& 2Anticipated Pilots 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 + O il Utilization1a + 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

1a Phase 1b – “N” FPUs + Gas Transp.1b + Oil Transp .1b + Oil Utilization1b

Production Design

• 2 Well Production: 3-RJS-646 and P1

• Expected Flow: 14.000 bpd

1st Oil:

March/2009

• Test Duration: 15 months FPSO BW Cidade de São Vicente
• Test Duration: 15 months
FPSO BW Cidade
de São Vicente
LDA: 2200m 6“ PRODUCTION 6 “ PRODUCTION 4” SERVICE EHU 4” SERVICE EHU LINE RELOCATION
LDA: 2200m
6“ PRODUCTION
6 “ PRODUCTION
4” SERVICE
EHU
4” SERVICE
EHU
LINE
RELOCATION
DRILL

WELL P1

PHASE 2

WELL P1

6 MONTHS

PHASE 1 WELL 3-RJS-646 6 MONTHS

PHASE 3 WELL 3-RJS-646 3 MONTHS

Pilot Project Scope

LEGEND PIPELINE WATER Production Pilot 5 producers; 2 water injectors; 1 gas injector Connected to
LEGEND
PIPELINE
WATER
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
flow to Mexilhão (shallow water gas
field, through a 200 km gas pipeline),
Capacities:
OIL
GAS INJECTION
100,000 bopd and 4MMm3/day (gas)
Reservoir Reservoir
Main goal: investigate recovery
mechanisms and well geometries.
100,000 bopd and 4MMm3/day (gas) Reservoir Reservoir Main goal: investigate recovery mechanisms and well geometries.

Gas exportation for the Tupi Pilot

145 Km 216 Km Solution for the Pilot 212 Km UGN UTGCA RPBC PMXL 170
145 Km
216 Km
Solution for the Pilot
212 Km
UGN
UTGCA
RPBC
PMXL
170 Km
URG
PMLZ-1
Tupi
Area
TEFRA
Existing
Under study
N
Building

Agenda

IntroductionIntroduction -- PrePre--SaltSalt SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment
IntroductionIntroduction -- PrePre--SaltSalt
SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment StrategyStrategy
TechnologicalTechnological ChallengesChallenges
EconomicalEconomical andand LogisticsLogistics ChallengesChallenges
PLANSALPLANSAL PlanningPlanning andand GovernanceGovernance
CommercialCommercial StrategiesStrategies
ConclusionConclusion
PlanningPlanning andand GovernanceGovernance CommercialCommercial StrategiesStrategies ConclusionConclusion

Technological challenges

Technological challenges Reservoir Characterization and Engineering Facies definition from seismic data. Internal
Technological challenges Reservoir Characterization and Engineering Facies definition from seismic data. Internal

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.

recovery: tech nical feasibility of water and gas injection. Geomechanics of the surrounding rocks with depletion.

Technological challenges

Salt drilling Sea bed Evaporitic session
Salt drilling
Sea bed
Evaporitic session

Well Drilling and Completion

Deviation of the wells into the salt zone.

Hydraulic fracture in horizontal wells.

Wellbore materials, resistant to high CO2 content.

Slow penetration in the reservoir.

Extended Reach Wells.

wells. Wellbore materials, resistant to high CO2 content. Slow penetration in the reservoir. Extended Reach Wells.

Technological challenges

Technological challenges Subsea Engineering Qualification of risers for water depth of 2,200 m, considering CO2 and

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

Qualification of thermal insulated flowlines for water depths of 2,200 m. Flowlines for high pressure gas

Technological challenges

Technological challenges Flow Assurance and Artificial Lift Preventing hydrate formation Wax deposition in long
Technological challenges Flow Assurance and Artificial Lift Preventing hydrate formation Wax deposition in long

Flow Assurance and Artificial Lift

Preventing hydrate formation

Wax deposition in long pipelines.

Scaling control

Temperature management along the lines

Lift Preventing hydrate formation Wax deposition in long pipelines. Scaling control Temperature management along the lines

Technological challenges

Technological challenges Floating Production Units Mooring in water depths of 2,200 m Interaction with the riser’s

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).

of 2,200 m Interaction with the riser’s system Scenario for platforms with direct access to the

Technological challenges

Technological challenges Logistics for the Associated Gas More suitable materials for equipment dealing with high CO2
Technological challenges Logistics for the Associated Gas More suitable materials for equipment dealing with high CO2
Technological challenges Logistics for the Associated Gas More suitable materials for equipment dealing with high CO2
Technological challenges Logistics for the Associated Gas More suitable materials for equipment dealing with high CO2

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.

depth of 2,200 m. Long distance to shore (300 km). Scenario for new technologies offshore: LNG,

Petrobras Technological Corporate Programs

PROPES PROSAL TECHNOLOGY PROGRAM ON NEW EXPLORATORY FRONTIERS
PROPES
PROSAL
TECHNOLOGY PROGRAM
ON NEW EXPLORATORY
FRONTIERS
Petrobras Technological Corporate Programs PROPES PROSAL TECHNOLOGY PROGRAM ON NEW EXPLORATORY FRONTIERS

PRO-SAL - Pre-Salt Technological Program

CENPES

PRO-SAL - Pre-Salt Technological Program CENPES 137 Laboratories 30 Pilot Plants Objective: Develop and disseminate

137 Laboratories 30 Pilot Plants

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, geomechanical model, liner drilling, well control in 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

model and fracture distribution, pre-salt imaging, seismic attributes) Reservoir Engineering: Recovery optimization

Agenda

IntroductionIntroduction -- PrePre--SaltSalt SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment
IntroductionIntroduction -- PrePre--SaltSalt
SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment StrategyStrategy
TechnologicalTechnological ChallengesChallenges
EconomicalEconomical andand LogisticsLogistics ChallengesChallenges
PLANSALPLANSAL PlanningPlanning andand GovernanceGovernance
CommercialCommercial StrategiesStrategies
ConclusionConclusion
PlanningPlanning andand GovernanceGovernance CommercialCommercial StrategiesStrategies ConclusionConclusion

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.

traditional trunk line (LNG, CNG, GTW,…); Negotiations with partners for pr oject’s scope and budget approvals.

Economic Challenges

CAPEX DISTRIBUTION

19% 20% 18% 9% 2% 1% 0%
19%
20%
18%
9%
2%
1%
0%

31%

 

Surf

Gathering

 

Residual ValueProcessing Plants Exportation  

Processing PlantsResidual Value Exportation  

ExportationResidual Value Processing Plants  

 

FPUCompletion Drilling Abandonment

CompletionFPU Drilling Abandonment

DrillingFPU Completion Abandonment

FPU Completion Drilling Abandonment

Abandonment

  Residual Value Processing Plants Exportation   FPU Completion Drilling Abandonment

Agenda

IntroductionIntroduction -- PrePre--SaltSalt SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment
IntroductionIntroduction -- PrePre--SaltSalt
SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment StrategyStrategy
TechnologicalTechnological ChallengesChallenges
EconomicalEconomical andand LogisticsLogistics ChallengesChallenges
PLANSALPLANSAL PlanningPlanning andand GovernanceGovernance
CommercialCommercial StrategiesStrategies
ConclusionConclusion
PlanningPlanning andand GovernanceGovernance CommercialCommercial StrategiesStrategies ConclusionConclusion

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.

PLANSALPLANSAL Effort Cluster Strategic Plan and Integrated Development Model Projects (Pre-Salt Committee) Programs
PLANSALPLANSAL
Effort
Cluster Strategic Plan and Integrated
Development Model
Projects
(Pre-Salt Committee)
Programs
Guidelines
Project Implementation
(Areas)
Time
2009
Periodic Reviews
> 2020
Pre-Release of
Master Plan
Guidelines Project Implementation (Areas) Time 2009 Periodic Reviews > 2020 Pre-Release of Master Plan
Program Program Planning, Planning, Monitoring Monitoring and and Management Management
Program
Program Planning,
Planning, Monitoring
Monitoring and
and Management
Management

PLANSAL Structure

• Logistics • Oil Transportation and Utilization • Gas Transportation and Marketing • Transportation •
• Logistics
• Oil Transportation and
Utilization
• Gas Transportation and
Marketing
• Transportation
• Oil Transportation– E&P
• Gas Transportation – E&P
Environmental Licensing Plan
Joint Ventures Management Plan
Unitization Plan
Unitization Plan
Critical Resources Availability Plan • Equipments and Drilling Services, Logistic, Wells and Submarine • Equipments
Critical Resources Availability Plan
• Equipments and Drilling Services, Logistic, Wells and Submarine
• Equipments and Services for Pipelines, Floating Productions Units and Facilities
Technology Development Plan • CO2 use • Use and storage of gas • Reservoir Drainage
Technology Development Plan
• CO2 use
• Use and storage of gas
• Reservoir Drainage
• Concepts of Floating Production Units
Human Resources Plan
Human Resources Plan

Agenda

IntroductionIntroduction -- PrePre--SaltSalt SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment
IntroductionIntroduction -- PrePre--SaltSalt
SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment StrategyStrategy
TechnologicalTechnological ChallengesChallenges
EconomicalEconomical andand LogisticsLogistics ChallengesChallenges
PLANSALPLANSAL PlanningPlanning andand GovernanceGovernance
CommercialCommercial StrategiesStrategies
ConclusionConclusion
PlanningPlanning andand GovernanceGovernance CommercialCommercial StrategiesStrategies ConclusionConclusion

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.

platforms demand on short-term schedule; Significant capacity increment of national marine/offshore construction sites.

Production Platforms Construction Strategy

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

Production Platforms Construction Strategy New infrastructure for building Produc tion Platforms in Rio Grande City –
Production Platforms Construction Strategy New infrastructure for building Produc tion Platforms in Rio Grande City –
Production Platforms Construction Strategy New infrastructure for building Produc tion Platforms in Rio Grande City –
Production Platforms Construction Strategy New infrastructure for building Produc tion Platforms in Rio Grande City –

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

hull’s cost due to scale effect Standardization of FPSO´s Top sides whenever possible; Sequence of 8

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.

facilities (waiting for EWT data); Two or three big contracts for “Integration and commissioning”, under analysis.

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.

to use high strength steel pipe (API 5L X70/80). National indus try is getting prepared to

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;

in Joint venture with a experienced Operator EPCI Contracting Philosophy; Combination of above strategies;

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.

Brazil, to be delivered from 2014 and on (in analysis); Hiring of extra existing units in

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.

strategies that makes feasibly the extremelly significant investiments on competitive bases with international market.

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

in advance that allows the construction Vessels constructed in Brazil; Contract of existing units, if necessary

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.

standard products; antecedence that allows investments in industrial enlargement and/or new companies entry in Brazil.
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.

actual fleet); Traditional suppliers will be invited for bids; Anticipation that allows the construction.

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.

to tender antecedence that allows investments in industrial enlargement and/or new companies establishing in Brazil.
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.

anticipation that allows investments; Scale effect for rising competition.
Well Services: Long Term Contracts, with: anticipation that allows investments; Scale effect for rising competition.

Agenda

IntroductionIntroduction -- PrePre--SaltSalt SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment
IntroductionIntroduction -- PrePre--SaltSalt
SantosSantos BasinBasin PrePre--SaltSalt DevelopmentDevelopment StrategyStrategy
TechnologicalTechnological ChallengesChallenges
EconomicalEconomical andand LogisticsLogistics ChallengesChallenges
PLANSALPLANSAL PlanningPlanning andand GovernanceGovernance
CommercialCommercial StrategiesStrategies
ConclusionConclusion
PlanningPlanning andand GovernanceGovernance CommercialCommercial StrategiesStrategies ConclusionConclusion

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.

to Petrobras oil and gas production throughout next decade, as will be announced by next revision

Thank you!

Thank you! Question and Answer Session Visit our website: www.petrobras.com.br/ri For more information contact: Petróleo

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

Av. República do Chile, 65 – 22º floor 20031 912 – Rio de Janeiro, RJ (55-21)