Petrobras' investments abroad

15/4/2008

During a breakfast event held with journalists today (04/15), Petrobras’ International director, Jorge Luiz Zelada, called attention to Petrobras’ investments and projects abroad. For the 2008-2012 period, the Company’s business plan calls for investments in the order of $15 billion abroad, 70% of which earmarked for the exploration & production area. For 2008, $4 billion are foreseen.

During the event, the director spoke about new projects that are under way at Petrobras, such production going online at the Agbami and Akepo fields, in Nigeria. According to Zelada, these two fields are expected to make a significant contribution to rising Petrobras’ average daily production abroad. By late 2008, production in Nigeria will near 30,000 barrels of oil per day.

The executive also highlighted the importance of the recent acquisition of the Nansei Sekiyu refinery, in Okinawa, Japan, which marks Petrobras’ entry in the Eastern Asian market as an operator and contributes to increasing the Company’s refining capacity abroad, a fact that adds value to its products.

Zelada also spoke about Petrobras’ activities in the United States and about projects in Latin America, such as agreement negotiations that are in progress in Ecuador, in addition to the assessment of a share of up to 10% in the Carabobo field, in Venezuela.

Petrobras press release