Petrobras (PBR)

9.3 Project financing obligations

PDET Project

PDET Offshore S.A. passed R$ 1.198.357 thousand on to Petrobras as an advance for the future sale of assets and reimbursement of expenses incurred by Petrobras. In December 2007, Petrobras transferred a contract with Consórcio Norberto Odebrecht Engenharia S.A. (CNO) to PDET Offshore S.A, in the total amount of R$ 998.024 thousand and delivered 9 (nine) Sulzer pumps by way of sale in June 2009. Accordingly, Petrobras had a balance of R$ 138.943 thousand as of June 30, 2009 (R$ 200.333 thousand as of March 31, 2009), classified in Current liabilities as Project Financing.

9.3 Project financing obligations

a) PDET Project

PDET Offshore S.A. passed R$ 1.198.357 thousand on to Petrobras as an advance for the future sale of assets and reimbursement of expenses incurred by Petrobras. In December 2007, Petrobras gave a contract with Consórcio Norberto Odebrecht Engenharia S.A. (CNO) to PDET Offshore S.A in the total amount of R$ 998.024 thousand. This left Petrobras with the balance of R$ 200.333 thousand, classified under current liabilities as Project financing.

b) NovaMarlim Project

NovaMarlim Petróleo S.A. provided funding for the project, the balance of which, net of operating expenses already incurred by Petrobras is around R$ 2.108.557 thousand (R$ 2.102.579 thousand at December 31, 2008) and transferred assets of around R$ 49.465 thousand, reached R$ 5.978 thousand (R$ 11.957 thousand at December 31, 2008) classified under current liabilities as Project financing.

9.3 Project financing obligations

c) Project financing obligations

c) Project financing obligations

c) Project financing obligations

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