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This excerpt taken from the PBR 20-F filed May 22, 2009. Iran. The agreement
called for seismic data acquisition and processing and the
drilling of at least two exploratory wells in the Tusan block in
the Iranian Persian Gulf.
To date, Petrobras has acquired and processed seismic data at a
cost of approximately U.S.$22 million and drilled two
exploratory wells at a cost of U.S.$156 million in Iran. In
February 2008, we discovered evidence of hydrocarbons in the
Tusan block. The discovery is not considered economically viable.
Our expenditures are reimbursed under the service contract with
the NIOC only if exploration results in economically viable oil
discoveries. Petrobras has not had any assets, material
liabilities, revenues or proved reserves associated with its
operations in Iran in any of the last three years. The service
contract with the NIOC is scheduled to expire in July 2009, and
we have no additional commitments or further plans in Iran at
this time.
Africa
Our operations in Africa date back to 1979 and include
production in Angola and Nigeria, development activities in
Nigeria and exploration in these and other countries.
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