This excerpt taken from the PBR 20-F filed May 22, 2009.
Research and Development
We are deeply committed to research and development as a means to extend our reach to new production frontiers and achieve continuous improvement in operations. We have a history of successfully developing and implementing innovative technologies, including the means to drill, complete and produce wells in increasingly deep water. We are one of the largest investors in research and development among the worlds major oil companies, and we spend a large percentage of revenues on research and development. In 2008, we spent U.S.$941 million on research and development, equivalent to 0.8% of our net operating revenues. In 2007, we spent U.S.$881 million on research and development, equivalent to 1.0% of our net operating revenues. In 2006, we spent U.S.$730 million on research and development, equivalent to 1.0% of our net operating revenues. Our bylaws require us to place at least 0.5% of our paid-in corporate capital in a reserve for research and development expenses.
Our research and development activities focus on three strategic areas: (i) offshore deepwater and ultra-deepwater exploration and production; (ii) refining and conversion of heavy crude; and (iii) biofuels. Among the breakthroughs we have achieved have been semi-submersible production platforms capable of operating in
water depths of up to 3,000 meters (9,843 feet) and the H-Bio process to convert vegetable oils to biodiesel in existing refineries. In the three-year period ended December 31, 2008, our research and development operations were awarded 48 patents in Brazil and 148 overseas. Our portfolio of patents covers all of our areas of activities.
We have operated a dedicated research and development facility in Rio de Janeiro, Brazil since 1966. As of December 31, 2008, we had 2,036 employees working at this facility. We also conduct research and development through joint research projects with universities and other research centers in Brazil and abroad and participate in technology exchange and assistance partnerships with other oil and gas and oilfield services companies.
PifCo does not itself conduct research and development.
This excerpt taken from the PBR 6-K filed Dec 21, 2007.
RESEARCH AND DEVELOPMENT
Petrobras will invest about R$ 1.6 billion in research and development, a growth of R$ 100 million compared with 2007.
This excerpt taken from the PBR 20-F filed Jun 30, 2005.
Since 1966, we have maintained a dedicated research and development facility in Rio de Janeiro, Brazil. As of December 31, 2004, we had 1560 employees working in this facility. We engage in joint research projects with universities and other research centers in Brazil and abroad. We spent U.S.$32 million in 2004 on joint projects with Brazilian universities and technological institutions, as compared to U.S.$28.5 million in 2003 and U.S.$18.4 million in 2002. Additionally, we participate in technology exchange and assistance projects with other oil and gas and oilfield service companies for other areas of our business. These transfers of technology are based on partnership agreements focusing on the exchange of information with respect to offshore systems and development of deepwater technologies and involve no material cost to us.
Our research and development facility researches various aspects of our oil and gas operations, including exploration, drilling, production, reservoir engineering and geology, fluid separation, well completion and refining process technology. This facility also engages in research on industrial catalysts, lubricants, fine chemicals, fuels, additives, petrochemicals and polymers for other areas of our business. Our research facility is also responsible for the basic design of new offshore fixed and semi-submersible platforms and subsea production systems, as well as new and reconstructed refining units, and has facilitated the development of important technologies, including semi-submersible production platforms capable of operating in water depths of up to 6,562 feet (2,000 meters).
As of December 31, 2004, we had 24 floating production systems in operation (12 semi-submersibles, 10 FPSO and 2 FSO). We have obtained 98 patents in Brazil and 193 abroad for a significant number of the technologies produced through research and development activities during the three-year period ended December 31, 2004.
Of the projects in which we are currently involved, three programs are key to our technological development activities. The first project, originally named PROCAP, is our technological development program for deepwater
production systems, which was established in 1986 with a budget of U.S.$52 million to develop additional deepwater and ultra deepwater technology. This program is aimed at developing the fields discovered in waters of depths up to 3281 feet (1000 meters), enhancing recovery of oil and gas reserves, and extending the life of producer wells. In 1992, Petrobras initiated PROCAP 2000, which pursued the same objectives as PROCAP but at a depth of 7562 feet (2000 meters). In 2000, PROCAP 3000 was launched with a budget of U.S.$128 million over five years to provide technological solutions to produce and support the next phases of development of Marlim Sul, Roncador, Marlim Leste, Albacora Leste, Jubarte, the deep and ultra-deep blocks in the Santos and Espírito Santo basins, Gulf of Mexico and West Africa, in order to achieve production and extraction in water depths up to 9,842 feet (3,000 meters).
The second project, the Renewable Energy Technology Program PROGER was created in 2004 to promote the research and development of technologies to enable and optimize the use of renewable energy sources. Such sources provide light, heating, air conditioning, mechanical force, transportation, telecommunications and fuel with minimum impact to the environment, reducing the effects of world climate changes caused by the use of hydrocarbons. The challenge we face with this program is to make the use of such energy sources more economical and to enable their widespread use. This program focuses on the research and development of wind energy, solar energy, biomass energy, bio-fuels (including bio-diesel), and energy from the sea and geo-thermal energy, among other sources.
The third project, the Strategic Refining Technology Development ProgramPROTER, was created in 1994 for the development of heavy crude oil refining technology to transform it into lighter high-performance oil products. This program aims at developing new technologies and optimizing existing ones for the refining of our domestic heavy oil in a cost-effective way. We have been making substantial investments to accomplish this goal. Our professionals test novel refining techniques in our prototype plants, which are later introduced at our refineries. Many innovations developed under this program have been implemented in our refineries.
In addition to these projects, we have developed several other projects designed to:
PIFCo does not engage in research and development.