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PBR » Topics » (8) Lifting cost with government take had its historical series adjusted, retroactive to 2005, due to ANP's (National Petroleum Agency) new interpretation of the deductibility of the expenses with Project Finance in the Marlim field over the accounting of

This excerpt taken from the PBR 6-K filed Mar 12, 2007.

(8) Lifting cost with government take had its historical series adjusted, retroactive to 2005, due to ANP's (National Petroleum Agency) new interpretation of the deductibility of the expenses with Project Finance in the Marlim field over the accounting of special participation.

Cost - R$/barrel                         
                Lifting cost             
                • Brazil (7)            
14,26    15,46    13,73    13    • • without government participation    14,20    13,83    3 
39,60    37,75    36,43    4       • • with government participation(8)   38,18    35,36    8 
                Refining cost             
5,39    5,84    4,56    28    • Brazil (7)   4,98    4,59    8 

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