This excerpt taken from the PBR 6-K filed Apr 22, 2009.
Clarifications on the visit to Seoul
Rio de Janeiro, April 20 2009 PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, in response to Written Notice CVM/SEP/GEA-2/No. 121/09, regarding a story published yesterday by the Jornal do Commercio newspaper titled Petrobras discusses projects worth $25 billion, stating that Petrobras CFO and its service director, Renato Duque, will be in Seoul, South Korea, this week to discuss projects worth at least $25 billion with South Korean shipyards, clarifies that:
a) the Companys business plan includes an extensive portfolio of projects that add up to a total amount of $174.4 billion for the 2009-2013 period. This strategy includes the construction of drilling rigs and support vessels, as widely announced to the market and filed at the CVM on May 20 2008. When Petrobras made its filing, it:
a.1.) announced the intention of hiring 40 drilling vessels and semi-submersible drilling rigs to operate in deep and ultra-deep waters. The plan calls for the construction and receipt of 40 new units through 2017, prioritizing construction
Part of these investments have minimum national content premises. Because of this, the Company executives are travelling in South Korea meeting with naval industry executives, since that that country not only has an excellent relationship history with Petrobras, but also outstanding technology and companies that are capable of investing and building these vessels and drills in Brazil.
This document may contain forecasts that merely reflect the expectations of the Companys management. Such terms as anticipate, believe, expect, forecast, intend, plan, project, seek, should, along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: April 22, 2009
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