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This excerpt taken from the PBR 6-K filed Jul 6, 2009. Tupi Extended Well Test Rio de Janeiro, July 6, 2009 – PETRÓLEO BRASILEIRO S/A - PETROBRAS, announces that it has detected a manufacturing issue with the fixation bolts used in the Wet Christmas Tree (a submarine well flow control device) at well 3-RJS-646, which had been performing the Extended Well Test (EWT) in the Tupi Area, in the Santos Basin’s Pre-Salt Cluster, operated by Petrobras (65%) in partnership with BG Group (25%) and Galp-Energia (10%). A submarine inspection did not detect any oil leak or damage to the equipment. Preventively, pursuant to its Safety, Environment and Health policy, the Company decided to immediately replace the Wet Christmas Tree and Adaptor Base. The well was closed for the operation to be carried out, and the EWT will be continued after the replacement has been completed. The results obtained via the EWT thus far, have been in line with the expectations of the Company and will be valuable to define the development plan for the area and, particularly, to provide information about the long-term behavior of the reservoirs in production, about fluid movement and drainage during production, and about submarine outflow. Petrobras emphasizes that the issue in question is unrelated to aspects concerning field production or the technology and does not have impact in the development of the Santos Basin’s Pre-Salt Cluster.
www.petrobras.com.br/ri/english
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. SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: July 06, 2009
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. | ||||||||
