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PBR » Topics » Exploration

This excerpt taken from the PBR 6-K filed Jan 23, 2007.

Exploration

Intensifying the exploratory activity (the search for new oil fields) is vital to ensure long-term self-sufficiency sustainability. The exploration activities undertaken through 2010 will have special impact on production after this period, allowing Brazil to maintain production above the country's byproduct demand.
Petrobras will invest R$15.5 billion in exploration through 2010. Including investments made by other companies (partners and third-parties), the resources to be invested in oil exploration in the PAC are estimated at R$23.5 billion through 2010.
The high investments in Brazil, in the coming yeas, will allow Petrobras to maintain the robust growth goals the company has taken-on for its several activities since 2003, with emphasis on the Country’s industrial development. Oil production will continue on the rise simply with the use of reserves that have already been discovered and with the deployment of the projects that have already been defined and are currently in motion.

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