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PBR » Topics » (e) Commitments with project financings

This excerpt taken from the PBR 6-K filed Mar 18, 2005.

(e) Commitments with project financings

As determined by CVM Instruction No. 408, of August 18, 2004, the financial information of special purpose companies whose activities are directly or indirectly, individually or jointly controlled by a publicly-held company must be included in the consolidated financial statements of the latter company as of January 1, 2005.

The amounts for the SPCs’ assets, liabilities and net equity, as well as the value of commitments assumed to acquire the assets, not yet incurred, are presented as follows:

    Special Purpose Company   Property plant and  equipment,  net of  assets       Other  assets       Short-  term       Commitments  assumed  to acquire  the assets 
Financing 
Long-  term Net equity    
     (i) (i) (i)   (ii)
 
Cia. Petrolífera Marlim 1.334.757  390.518  195.913  1.400.307  240.436    
Cayman Cabiúnas Investment Co. Ltd. 1.630.707  254.061  321.320  1.526.190  2.222  71.669 
Barracuda and Caratinga Leasing Company B.V. 5.537.206  1.451.421  1.061.760  5.120.656  (80.481)  
EVM Leasing Corporation 701.895  431.887  313.116  790.313     
Albacora Japão Petróleo Ltda. 196.994  10.047  42.890  114.750  49.401   
Companhia de Recuperação Secundária (CRSec) 148.439  7.101  58.901  80.901  24.487   
PDET Onshore S.A. 3.699 105.942  109.598    45   
Nova Transportadora do Sudeste 303.361  12.319  10.623  301.877  3.180  774.779 
Nova Transportadora do Nordeste 202.815  17.795  10.352  207.075  3.183  986.083 
PDET Offshore S.A.    201.397  186.732     14.666    
Cia. Locadora de Equipamentos Petrolíferos - CLEP    9.893  66.933     416.897    
 
Subtotal 10.059.873  2.892.381  2.378.138  9.542.069  674.036  1.832.531 
Funds raised but not allocated
    to projects    (2.655.310) (2.200.962) (454.348)    
 
Total 10.059.873  237.071  177.176  9.087.721  674.036  1.832.531 
 
(i)

Amounts net of operations with PETROBRAS and subsidiaries.

(ii)

Refer to commitments assumed in the contracts, net of amounts already allocated to the projects.
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