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Libra consortium finishes drilling second extension well

Mapa LibraRead our announcement (March 24, 2015):

The Libra consortium has finished drilling extension well 3-BRSA-1267-RJS/3-BRSA-1267A-RJS (3-RJS-735/735A). The drilling results confirmed the presence of a hydrocarbon column approximately 200 meters deep in reservoirs with good permeability and porosity characteristics.

Informally known as C1, the well is located in the central part of the Libra block, in Santos Basin, around 220 km offshore from the city of Rio de Janeiro.

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Review of Governance and Organizational Management Model

Read our statement (3/25/2015):

Petrobras announces that its Executive Board, in a meeting held on March 24, 2015, approved the beginning of the project to review its corporate governance and organizational management model based on new business environment and the review of the Company's investment plan.

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Start-up of platform P-61 in Papa Terra field

P-61-e-tadRead our statement:

Petrobras announces the start-up of platform P-61 in Papa Terra field, in the southern tip of Campos Basin, 110km off the coast of Brazil and at a water depth (distance between water surface and sea floor) ranging from 400 to 1,400 meters.

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We have started production at the pre-salt Búzios field

Plataforma P-74The early production system of the Búzios field, located in the Santos Basin pre-salt cluster, went into operation last Tuesday (Mar. 10). This is the first large-scale, long-term production in the Transfer of Rights area. Production will take place by means of the Dynamic Producer platform vessel, which is interconnected to well 2-ANP-1-RJS, and its average production will be restricted to 15,000 barrels of oil per day due to gas use limitations.

We intend to produce through this early system for six months. This time will be used to obtain essential information to optimize the first definitive production system for the field, which will use platform P-74, currently in its final stage of conversion at the Inhaúma shipyard, in Rio de Janeiro.

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We have hired PricewaterhouseCoopers Auditores Independentes for 2015 and 2016

At a meeting held on February 27, our Board of Directors approved the hiring of PricewaterhouseCoopers Auditores Independentes to provide audit services for the 2015 and 2016 fiscal years.

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We will increase our divestments to $13.7 billion

At a meeting held on February 26, 2015, our executive board approved the revision of the divestment plan for the 2015-2016 biennium. The total amount of the plan adds up to $13.7 billion, divided in the areas of exploration & production in Brazil and abroad (30%), Downstream (30%), and Gas & Power (40%).

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Moody’s reviews our global ratings

Read our statement:

Petrobras informs that Moody’s Investors Service reviewed Petrobras' global foreign currency debt ratings from Baa3 to Ba2. This rating is still on review. With this grade Petrobras is no longer an Investment Grade company for Moody´s.

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Oil and natural gas production in january

P-52Read our statement:

Petrobras announces that its total domestic oil and natural gas production in January 2015 was 2.661 million barrels of oil equivalent per day (boed), averaging about the same as December of last year (2.675 million boed).

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Accident aboard FPSO Cidade de São Mateus

Read our announcement (11/2):

Petrobras regretfully announces that an explosion took place aboard FPSO Cidade de São Mateus today, February 11th, at approximately 12:50 pm. The FPSO is operated by BW Offshore and is chartered by Petrobras. The unit has been operating since June 2009 in the post-salt of the Camarupim and Camarupim Norte fields, some 120 km off the Espírito Santo state coast. Out of 74 workers onboard, three have succumbed to their injuries and died on site; ten sustained injuries and have already been transferred by helicopter to receive medical care in the city of Vitória, and six are still missing.

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New CEO and Executive Officers

Read the announcement made this friday:

Petrobras informs that its Board of Directors, in a meeting held today, has approved with majority vote the election of Aldemir Bendine as CEO of Petrobras replacing the current CEO, Maria das Graças Silva Foster.


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