10.1 Special purpose companies for Petrobras (PBR)

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PBR » Topics » 10.1 Special purpose companies

This excerpt taken from the PBR 6-K filed Mar 4, 2008.

10.1 Special purpose companies

a) Projects Financings


Project/ Estimated		Main	Current
Amount of Investment	Purpose	guarantees	phase

Barracuda and	To allow development of production in the fields of	Guarantee provided	In operation, with
Caratinga	Barracuda and Caratinga in the Campos Basin. The SPC	by Brasoil to cover	constitution of assets in
	Barracuda and Caratinga Leasing Company B.V.	BCLC’s financial	final stages.
	(BCLC), is in charge of building all of the assets (wells,	requirements.
US$ 3,1 billion	submarine equipment and production units) required by
	the project, and is also the owner of them.




Marlim	Consortium with Companhia Petrolífera Marlim (CPM),	70% of the field	In operation.
	which furnishes Petrobras with submarine equipment for	production limited to
	oil production at the Marlim field.	720 days.
US$ 1,5 billion




NovaMarlim	Consortium with NovaMarlim Petróleo S.A.	30% of the field	In operation.
	(NovaMarlim) which furnishes submarine oil production	production limited to
	equipment and refunds operating costs arising from	720 days.
US$ 834 million	operating and maintaining the field assets, by way of an
	advance already made to Petrobras.
CLEP	Companhia Locadora de Equipamentos Petrolíferos –	Lease prepayments	In operation.
	CLEP, furnishes Petrobras assets related to oil	in case revenue is
	production located in the Campos Basin through a lease	not sufficient to
US$ 1,25 billion	agreement for the period of 10 years, and at the end of it	cover payables to the
	Petrobras will have the right to buy shares of the SPC or	lenders.
	project assets.




PDET	PDET Offshore S.A. is the future owner of the Project	All of the project’s	In stage of constitution
	assets whose objective is to improve the infrastructure to	assets will be	of assets.
	transfer oil produced in the Campos Basin to the oil	pledged as collateral.
US$ 1,18 billion	refineries in the Southeast Region and to export. The
	assets will later be leased to Petrobras for 12 years.




Malhas	Consortium formed by Transpetro, Transportadora	Prepayments based	The consortium became
	Nordeste Sudeste (TNS), Nova Transportadora do	on transportation	operational on January
	Sudeste (NTS) and Nova Transportadora do Nordeste	capacity to cover any	01, 2006. However,
US$ 1,11 billion	(NTN). NTS and NTN contribute through assets related	consortium cash	some assets are still
	to natural gas transportation. TNS (a 100% Gaspetro	insufficiencies.	under construction.
	subsidiary) furnishes assets that have already been
	previously set up. Transpetro is the gas pipelines
	operator.




Modernization of	The objective of this project is to raise the Henrique	Prepaid rental to	In stage of constitution
Revap	Lage (Revap) refinery’s national heavy oil processing	cover any cash	of assets.
	capacity, bringing the diesel it produces into line with	deficiencies of
	the new national specifications and reducing pollution	CDMPI.
US$ 900 million	levels. To achieve this, the SPC Cia. de
	Desenvolvimento e Modernização de Plantas Industriais
	- CDMPI was founded, which will construct and lease to
	Petrobras a Retarded Coking plant, a Coke Naphtha
	Hydro-treatment plant and related plants to be installed
	at this refinery
Cabiúnas	Project with the objective of increasing gas production	Pledge of 10,4	In operation.
	transportation from the Campos Basin. Cayman Cabiunas	billion m³of gas.
	Investment Co. Ltd. (CCIC), furnishes assets to Petrobras
US$ 850 million	under an international lease agreement.
consolidated in the lease
agreement.



Other		Ownership of the	In operation.
(Albacora,		assets or additional

This excerpt taken from the PBR 6-K filed Nov 21, 2007.

8.4. Special purpose companies

a) Projects financings in progress


Project	Purpose	Main guarantees	Investment amount	Current phase

Barracuda and Caratinga	To allow development of production in the fields of Barracuda and Caratinga in the Campos Basin. The SPE Barracuda and Caratinga Leasing Company B.V. (BCLC), is in charge of building all of the assets (wells, submarine equipment and production units) required by the project, and is also the owner of them.	Guarantee provided by Brasoil to cover BCLC’s financial requirements.	US$ 3,1 billion.	In operation, with constitution of assets in final stages.

Marlim	Consortium with Companhia Petrolífera Marlim (CPM), which furnishes Petrobras with submarine equipment for oil production at the Marlim field.	70% of the field production limited to 720 days.	US$ 1,5 billion.	In operation.

NovaMarlim	Consortium with NovaMarlim Petróleo S.A. (NovaMarlim) which furnishes submarine oil production equipment and refunds operating costs arising from operating and maintaining the field assets, by way of an advance already made to Petrobras.	30% of the field production limited to 720 days.	US$ 834 million.	In operation.

CLEP	Companhia Locadora de Equipamentos Petrolíferos – CLEP, furnishes Petrobras assets related to oil production located in the Campos Basin through a lease agreement for the period of 10 years, and at the end of it Petrobras will have the right to buy shares of the SPC or project assets.	Lease prepayments in case revenue is not sufficient to cover payables to the lenders.	US$ 1,25 billion.	In operation.

EXCERPTS ON THIS PAGE:

6-K	Mar 4, 2008

6-K	Nov 21, 2007

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