Petrobras (PBR)

Technical characteristics

P-54 is a FPSO (Floating Production Storage and Offloading). It will be moored in a water depth of 1.400 meters, equivalent to two times the height of the Corcovado Hill, in Rio de Janeiro, and will be connected to 17 wells, being 11 productors of oil and gas and six injectors of water.

The new platform shall reach its production peak in the second half of 2008. In the meanwhile, the unit will reach the peak of gas flow, which will be 1.8 million de m³/day. The flow of the oil will be handled by off-loading ships and the gas will flow by sub sea pipelines up to the coast.

The same way as P-52, the new platform was built by Petrobras according to the new parameters of nationalization. With a domestic content of 63%, P-54 construction generated 2,600 direct and 10,000 indirect job positions.

The FPSO was built with a modular design in 41 months on the basis of three contracts signed in June 2004. The gas compression modules were built by the Dresser Rand/Mauá Jurong consortium and the power generation modules by Nuovo Pignone. The Jurong Shipyard was responsible for the hull conversion, the manufacture of the other process and utility modules and the integration of the final unit.

www.petrobras.com.br/ri/english
Contacts: PETRÓLEO BRASILEIRO S. A. – PETROBRAS
Investor Relations Department I E-mail: petroinvest@petrobras.com.br / acionistas@petrobras.com.br
Av. República do Chile, 65 – 22^nd floor - 20031-912 - Rio de Janeiro, RJ I Tel.: 55 (21) 3224-1510 / 9947

This document may contain forecasts that merely reflect the expectations of the Company’s management. Such terms as “anticipate”, “believe”, “expect”, “forecast”, “intend”, “plan”, “project”, “seek”, “should”, along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.

The process, utility and compression modules were built at Mauá-Jurong Shipyard in Niterói (RJ) and the power generation modules at the Nuovo Pignone’s Porto Novo Rio yard in Caju (RJ).