This excerpt taken from the PBR 20-F filed May 22, 2009.
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.
At December 31, 2008, we held exploration rights to 22 blocks in the Campos Basin, comprising 6,679.71 km2 (1.6 million acres).