Petrobras (PBR)

23 Guarantees on concession contracts for oil exploration

Petrobras granted guarantees to the National Petroleum Agency - ANP amounting to R$ 5.356.490 thousand for the Minimum Exploration Programs defined in the concession contracts for exploration areas, with R$ 3.323.755 thousand remaining in force, net of commitments already undertaken. Of the total amount, R$ 2.621.517 thousand refer to a lien on the oil from previously identified fields already in production, and R$ 702.237 thousand refer to bank guarantees.

24 Guarantees on concession contracts for oil exploration

Petrobras granted guarantees to the National Petroleum Agency - ANP in the amount of R$ 5.285.506 for the Minimum Exploration Programs defined in the concession contracts for exploration areas, with R$ 3.202.998, remaining in force, net of commitments already undertaken. Of the total amount, R$ 2.306.470 refers to a lien on the oil from previously identified fields already in production, and R$ 896.528 refer to bank guarantees

21. GUARANTEES ON CONCESSION CONTRACTS FOR OIL EXPLORATION

Petrobras granted guarantees to the National Petroleum Agency - ANP in the amount of R$ 5.074.238 thousand for the minimum exploration and/or expansion programs defined in the concession contracts for exploration areas, with R$ 3.095.475 thousand, remaining in force, net of commitments already undertaken. Of the total amount, R$ 2.410.215 thousand refers to a lien on the oil from previously identified fields already in production, and R$ 685.260 thousand refer to bank guarantees.

21. GUARANTEES ON CONCESSION CONTRACTS FOR OIL EXPLORATION

Petrobras granted R$ 5.116.536 thousand to the National Petroleum Agency (ANP) in guarantee of the minimum exploration and/or expansion programs defined in the concession contracts for exploration areas, with R$ 3.150.270 thousand, remaining in force, net of commitments already undertaken. Of the total amount, R$ 2.422.711 thousand refer to a pledge on the oil from previously identified fields already in production, and R$ 727.559 thousand refer to bank guarantees.

20. GUARANTEES ON CONCESSION CONTRACTS FOR OIL EXPLORATION

PETROBRAS granted R$ 5.113.195 thousand to the National Petroleum Agency (ANP) in guarantee of the minimum exploration and/or expansion programs defined in the concession contracts for exploration areas. Of the total amount, R$ 4.388.977 refer to a pledge on the oil from previously identified fields already in production, and R$ 724.218 thousand refer to bank guarantees.

20) GUARANTEES ON CONCESSION CONTRACTS FOR OIL EXPLORATION

PETROBRAS granted R$ 5.115.125 thousand to the National Petroleum Agency (ANP) in guarantee of the minimum exploration and/or expansion programs defined in the concession contracts for exploration areas. Of the total amount, R$ 4.388.977 refer to a pledge on the oil from previously identified fields already in production, and R$ 726.148 thousand refer to bank guarantees.

20) Guarantees on concession contracts for oil exploration

PETROBRAS granted R$ 5,127,075 to the National Petroleum Agency (ANP) in guarantee of the minimum exploration and/or expansion programs defined in the concession contracts for exploration areas. Of the total amount, R$ 4.388.977 refer to a pledge on the oil from previously identified fields already in production, and R$ 738.098 refer to bank guarantees.

20) Guarantees on concession contracts for oil exploration

PETROBRAS granted, up to June 30, 2005, R$ 4.236.115 thousand to the National Petroleum Agency (ANP) in guarantee of the minimum exploration and/or expansion programs defined in the concession contracts for exploration areas. Of this total, R$ 3.478.664 thousand represent a pledge on the oil to be extracted from previously identified fields already in production, and PETROBRAS has given guarantees to a total of R$ 757.451 thousand.

19. Guarantees on concession contracts for oil exploration

PETROBRAS granted R$ 4.409.927 (R$ 2.619.699 in 2003) to the National Petroleum Agency (ANP) in guarantee of the minimum exploration and/or expansion programs defined in the concession contracts for exploration areas. Of this total, R$ 3.478.664 (R$ 2.034.113 in 2003) represent a pledge on the oil to be extracted from previously identified fields already in production, for areas in which PETROBRAS has already made commercial discoveries or made investments with effect from the time when Law No. 9.478 of August 6, 1997 came into force and for areas whose concessions were obtained by the Sixth ANP Bidding Round. For areas whose concessions were obtained by bidding from the ANP, PETROBRAS has given guarantees to a total of R$ 931.263 up to December 31, 2004 (R$ 585.586 up to December 31, 2003).