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This excerpt taken from the PBR 20-F filed May 22, 2009. Campos
Basin
The Campos Basin, which covers approximately 115,000
km2
(28.4 million acres), is the most prolific oil and gas
basin in Brazil as measured by proved hydrocarbon reserves and
annual production. Since we began exploring this area in 1971,
over 60 hydrocarbon accumulations have been discovered,
including eight large oil fields in deep and ultra-deep water.
The Campos Basin is our largest oil- and gas-producing region,
producing an average 1,547 mbbl/d of oil and 23.7
mmm3/d
(894.3 mmcf/d) of associated natural gas during 2008, 77% of our
total production from Brazil.
At December 31, 2008, we were producing from 39 fields at
an average rate of 1,593 mbbl/d of oil and held proved crude oil
reserves representing 90% of our total proved crude oil reserves
in Brazil.
At December 31, 2008, we held proved natural gas reserves
in the Campos Basin representing 49% of our total proved natural
gas reserves in Brazil. We operated 34 floating production
systems, 14 fixed platforms and 5,697 km (3,540 miles) of
pipeline and flexible pipes in water depths from 80 to 1,886
meters (262 to 6,188 feet), delivering oil with an average
API gravity of 23.1° and an average BSW of 1%.
We expect that future new-source production from Campos will be
predominantly from deepwater oil fields. We are currently
developing 12 major projects in the Campos Basin: Marlim Sul
Modules 2 and 3, Marlim Leste Module 2, Roncador Modules 3 and
4, Jubarte Phase II, Cachalote Phase I, pre-salt reservoirs
of Parque das Baleias, Papa-Terra, Frade, Ostra and Baleia Azul.
Table of Contents
At December 31, 2008, we held exploration rights to 22
blocks in the Campos Basin, comprising 6,679.71
km2
(1.6 million acres).
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