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We have approved our new governance model and structure

Novo modelo de governança e gestão

Our Board of Directors approved, at a meeting held on Wednesday (Jan. 27), our new organizational structure and our new management and governance model.

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Adjustments to the 2015-2019 Business and Management Plan

foto ajustes

Read our statement (01/12/2016):

Petrobras hereby announces that its Board of Directors has approved certain adjustments to the 2015-2019 Business and Management Plan (2015-2019 BMP).

These adjustments are designed to preserve the fundamental objectives of deleveraging and the generation of value for shareholders established by the 2015-2019 BMP in the light of new oil price and exchange rate levels.

The new Brent crude price and exchange rate used as premises for cost and investment projections were:

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CEO Aldemir Bendine talks about our challenges and achievements

Desafios2015 was very challenging, and a period of deep changes in our governance. It was marked by the appointment of a new board and the setting of new operational records, with production in pre-salt layer averaging 919,000 barrels of oil equivalent per day in the first nine months of 2015. These were some of the topics addressed during an Executive Board breakfast with journalists who cover our daily activities, held on Tuesday (Dec. 15), at our main office in Rio de Janeiro.

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Executives take stock of our actions to combat fraud and corruption

João ElekOn the International Day Against Corruption (Dec. 9), we brought together the Executive Board and managers at our headquarters, in Rio de Janeiro, to take stock of the compliance actions we have implemented. At the event, which was broadcast live to the entire workforce, Governance, Risk, and Compliance director João Elek analyzed the achievements made in the 11-month period he has been at the helm of the area. He highlighted measures such as Due Diligence in Integrity and the Denunciation Channel, among others.

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Third quarter of 2015 results

 ResultadoRead our statement (11/12):

Reviewed by independent auditors, stated in millions of Reais, prepared in accordance with International Financial Reporting Standards - IFRS issued by the International Accounting Standards Board – IASB (a free translation of the original in Portuguese).

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Pre-salt output tops the 1 million barrels of oil equivalent per day

1 milhaoRead our statement (10/16/2015):

Production of oil and natural gas from facilities operated by Petrobras in the pre-salt layer exceeded 1 million boed during September, with output averaging 1.028 million boed, and reaching a record level of 1.12 million boed on the 15th of the month.

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New wells confirm Libra field potential

LibraThe consortium responsible for the Libra oilfield in the Santos Basin pre-salt has completed the drilling of well 3-BRSA-1310-RJS, located in the central area of the block. The new well has revealed the presence of hydrocarbons in a low-porosity reservoir, providing important information for the ongoing appraisal campaign over this extensive area. It is the fourth well drilled in the Libra field.

The consortium is also drilling at two other locations. The 3-RJS-739A well in the northwest region of the block has already detected carbonate reservoirs containing oil, and coring operations (reservoir sample collection) are under way. In addition, drilling has just commenced on well 3-RJS-741 in the North.

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Adjustments to the 2015-2019 Business and Management Plan

Read our announcement (10/06/2015):

Petrobras has adjusted its 2015 and 2016 financial planning, given new Brent crude oil prices and the exchange rate (R$/US$).

When the Company first disclosed its 2015-2019 Business and Management Plan (PNG 2015-2019), it said that carrying out the Plan was subject to risk factors that may adversely impact projections, including changes in market variables such as oil prices and the exchange rate.

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We turned 62 focusing on results, management, and governance

Refinaria MataripeWe turned 62 on Saturday (Oct. 03), and continue setting daily operating records. For the first time in history, the total output operated in Brazil, including the portion we operate for partner companies, surpassed 3 million barrels of oil equivalent per day, closing at 3.01 million in August. In the pre-salt region, the monthly operated output reached the record mark of 859,000 barrels per day that month. These results underpin both our leadership in technology for deep and ultradeep waters, and the expectations concerning the high potential of the pre-salt production. Additionally, this record output demonstrated the quality of the reservoirs and these projects' technical and economic feasibility.

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Pre-salt: drilling confirms high quality oil potential in Carcará

CarcaraThe drilling of the third well in the Carcará area (Block BM-S-8) in the Santos Basin´s ultra-deep waters has confirmed the light oil potential of pre-salt reservoirs. Well 3-SPS-104DA, informally known as Carcará Northwest, is within the Discovery Evaluation Plan area of discovery well 4-SPS-86B (Carcará). The new well is located 5.5 km northwest of the discovery well, some 226 km from the coast of the state of São Paulo and at a water depth of 2,024 m.

The pressure data indicate that it is in the same accumulation as two other wells previously drilled in the area, confirming the westward extension of 4-SPS-86B’s discovery, and confirming the presence of good quality oil (31º API) in carbonate reservoirs of excellent quality, located right below the salt layer at a depth of 5,870 m. A significant oil column of 318 meters was found and there has been no oil/water contact from this accumulation.


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