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Last R$10.98 BRL
Change Today +0.56 / 5.37%
Volume 22.1M
PETR3 On Other Exchanges
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As of 4:08 PM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

Avenida República do Chile, 65

Rio de Janeiro, RJ 20031-912

Brazil

Phone:

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Petróleo Brasileiro S.A.—Petrobras operates as an integrated oil and gas company. The company’s segments include Exploration and Production; Refining, Transportation and Marketing; Distribution; Gas and Power; Biofuel; and International. Exploration and Production This segment engages in the exploration, development and production of crude oil, natural gas liquid (NGL) and natural gas in Brazil. The major target of the company’s Exploration and Production segment is to produce (in Brazil and abroad), on average, 4,000 thousand barrels per day (mbbl/d) of crude oil, condensate and NGL during the 2020-2030 period. During 2014, the company’s oil and gas production in Brazil averaged 2,284 thousand barrels of oil equivalent per day (mboe/d). In 2014, the company’s production of crude oil, condensate and NGL in Brazil averaged 2,034 mbbl/d. As of December 31, 2014, the company had 133 exploration agreements covering a total of 158 exploratory blocks, corresponding to a total gross exploratory acreage of 90,000 square kilo meters (km2) (22.24 million acres), or a net exploratory acreage of 64,000 km2 (15.81 million acres). The company also had 56 evaluation plans underway, including 40 in exploratory areas and 16 in ring fence areas. The company is responsible for conducting exploration activities under 68 exploratory agreements. As of December 31, 2014, the company had exploration partnerships with 29 foreign and domestic companies and had party to a total of 82 partnership exploratory agreements, in 58 of which it is the operator. The company holds interests ranging from 40% to 100% in the exploration areas under concession or assigned to it. In 2014, the company drilled a total of 74 exploratory wells in 2014, of which 37 were offshore and 37 onshore. Primary Basins The company’s domestic oil and gas exploration and production efforts are primarily focused on four major offshore basins in Brazil: Campos, Santos, Espírito Santo and Sergipe-Alagoas. Campos Basin The Campos Basin covers approximately 115,000 km2 (28.4 million acres). The Campos Basin is the company’s major oil- and gas-producing area, with an average production of 1,526 mbbl/d of oil and 548.4 million cubic feet per day (mmcf/d) (14.5 million cubic meters per day (mmm3/d)) of associated natural gas from 43 producing fields in 2014. In 2014, the company operated 42 floating production systems and 14 fixed platforms in water depths from 80 to 1,886 meters (262 to 6,188 feet). The company’s projects in Roncador and Parque das Baleias are owned and operated 100% by the company, while in Papa Terra it operates and has a 62.5% interest. As of December 31, 2014, the company held rights to 10 exploratory blocks and 2 exploration plans in the Campos Basin, comprising a total of 3,398 km2 (0.84 million acres). During 2014, the company drilled a total of 10 exploratory wells (6 of them in pre-salt reservoirs). Santos Basin The Santos Basin covers approximately 348,900 km2 (86 million acres) and is located adjacent to and southwest of Campos Basin. The company is exploring and developing the Santos Basin pre-salt area under the Concessions, Assignment Agreement and Libra Production Sharing Agreement. As of December 31, 2014, the company held exploration rights to one block and six exploration plans in the Santos Basin, comprising 4,774 km2 (1.6 million acres), through Concession Agreements. In 2014, the company drilled nine wells located in the Assignment Agreement area. The company explores the Santos Basin pre-salt area. In 2014, it drilled eight exploratory wells, including seven in the pre-salt area, and made various oil discoveries in the areas of Florim 2, Entorno de Iara 2 and 3, Júpiter Apollonia and NW1 LIBRA. The company also declared the commerciality of the new exploratory fields Sul de Sapinhoá, Sepia, Itapu, Norte de Berbigão, Sul de Berbigão, Berbigão, Norte de Sururu, Sul de Sururu, Sururu, Oeste de Atapu, and Atapu, with total estimated recoverable volume of approximately 6.2 billion barrels of oil. The company has 16 major projects contracted. It is also developing post-salt fields in the Santos Basin. Espírito Sa

 

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