This excerpt taken from the PBR 20-F filed Jun 30, 2005.
The protection of human health and the environment is one of our primary concerns, and is essential to our success as an integrated oil, gas and energy company. In order to address and prioritize health, safety and environmental concerns and ensure compliance with environmental regulations, we have:
In addition, we conduct environmental studies for all new projects as required by Brazilian environmental legislation, and our HSE department evaluates each and every project with a total budget exceeding U.S.$25 million to confirm its compliance with all HSE requirements.
We will continue to evaluate and develop initiatives to address HSE concerns and to reduce our exposure to HSE risks.