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Avenida República do Chile, n 65

Rio de Janeiro, RJ 20031-912




Petróleo Brasileiro S.A. – Petrobras operates as an integrated oil and gas company. As of December 31, 2015, the company had proved developed oil and gas reserves of 5,161.7 million barrels of oil equivalent (mmboe) and proved undeveloped reserves of 4,988.9 mmboe in Brazil. Segments The company’s activities are organized into five segments: Exploration and Production; Refining, Transportation and Marketing; Gas and Power; Distribution; and Biofuel. Exploration and Production segment This segment engages in the exploration, development and production of crude oil, natural gas liquid (NGL) and natural gas in Brazil and internationally, for the primary purpose of supplying its domestic refineries and the sale of surplus crude oil and oil products produced in its natural gas processing plants to the domestic and foreign markets. The company’s exploration and production segment also operates through partnerships with other companies. In 2015, the company’s oil and gas worldwide production averaged 2,576 thousand barrels of oil equivalent per day (mboe/d) and its oil worldwide production averaged 2,228 thousand barrels per day (mbbl/d). According to SEC technical criteria for booking proved reserves, as of December 31, 2015, the company’s worldwide net proved oil, condensate and natural gas reserves, including synthetic oil and gas, was 10.5 billion barrels of oil equivalent (bnboe). The company’s domestic oil production in 2015 averaged 2,128 million barrels per day (mmbbl/d). Its total domestic production, including its natural gas output averaged 2.386 million barrels of oil equivalent per day (mmboe/d) in 2015. As of December 31, 2015, the company had exploration partnerships with 19 foreign and domestic companies, on 74 exploratory agreements, in 43 of which the company is the operator. It holds interest ranging from 30% to 100% in the exploration areas under concession or assigned to the company. As of December 31, 2015, there were 18 onshore and 46 offshore rig platforms in the company’s fleet, of which 30 units operated in ultra-deep waters in Brazil. Primary Basins Campos Basin The Campos Basin, which covers approximately 115,000 km2 (28.4 million acres), continues to be the company’s major oil and gas basin in Brazil in terms of proved hydrocarbon reserves and annual production. During 2015, the company operated 56 stationary production units in water depths from 80 to 1,886 meters (262 to 6,188 feet) in the Campos Basin. In 2015, the Campos Basin pre-salt area average production of oil the company operated was 243 mbbl/d. Santos Basin The Santos Basin, which covers approximately 348,900 km2 (86 million acres) and is located adjacent to and southwest of the Campos Basin, is an offshore exploration and production areas in the world. During 2015, the company operated 12 floating production systems in water depths generally exceeding 2,000 meters (6,188 feet). Other Basins In Brazil, the company also produces from another 9 basins: Alagoas, Camamu, Ceará, Espírito Santo, Potiguar, Reconcavo, Sergipe, and Solimões e Tucano Sul. In 2015, those basins produced in total an average of 325 mboe/d and as of December 31, 2015, had proved crude oil and natural gas reserves of 0.825 bnboe. Activities Abroad by Region South America The company conducts exploration and production activities in Argentina, Bolivia, Colombia and Venezuela. In Argentina, the company participates across the energy value chain, primarily through its 67.2% interest in Petrobras Argentina S.A. (PESA). Its oil production is concentrated in the Medanito and Entre Lomas fields in the Neuquén Basin and the El Tordillo fields in the Golfo de San Jorge Basin, and its gas production is concentrated in the El Mangrullo, Río Neuquén and Sierra Chata fields in the Neuquén Basin. In Bolivia, the company’s oil and gas production comes principally from the San Alberto and San Antonio fields, which are operated primarily to supply gas to Brazil and Bolivia. In Colombia, the company’s portfolio includes the Tayrona offshore exploration block and the Villarica Norte onshore exploration block. In Venezuel


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