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Offshore Construction in

Brazil

March, 2013

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Agenda

1. Petrobras Portfolio

2. Shipyards

3. Local Content

4. HSE

5. Basic Design Drivers

6. EPC Drivers & Oportunities

7. Final Comments

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Agenda

1. Petrobras Portfolio

2. Shipyards

3. Local Content

4. HSE

5. Basic Design Drivers

6. EPC Drivers & Oportunities

7. Final Comments

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FUNDAMENTALS OF 2012-2016 BUSINESS AND MANAGEMENT PLAN

Integrated Portfolio

Management

PERFORMANCE • Management focused in accomplishing physical and

financial targets of each project

CAPITAL DISCIPLINE • To ensure expansion with solid financial indicators

PRIORITY • Priority given to exploration and production projects of oil

and natural gas in Brazil • Realism in production targets

2012-2016 Business and Management Plan

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3.070

4.910

4.200

2.500 2.022

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Business and Management Plan 2012-2016

-700 mbpd

-1.000 mbpd

ANNUAL OIL PRODUCTION CURVE FORECAST - 2012 REVIEW

Production Curve in Brazil – Production of Oil and NGL

Business and Management Plan 2011 – 2015

Priority: REALISM

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S CURVES – PHYSICAL AND FINANCIAL All 2012-2016 Business and Management Plan projects under implementation and evaluation have an ‘S’ Curve as unique reference of management, planning, control and monitoring at Petrobras. The critical projects are monitored monthly by the Board of Directors and Executive Board.

Physical Monitoring Financial Monitoring

PERFORMANCE: CURVES

cost deviaton

term deviation progress deviation

Explanations for deviation

Authorization for budget review

Explanations for deviations

Recovery Plan If necessary

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PROCOP Cost Optimization

Program

PROEF Increase of Operational

Efficiency Program in Campos Basin

PROMINP Local Content Management

Program

Integrated Management of the Company’s Portfolio - HSE

Programs Initiatives

2012-2016 Business and Management Plan

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2011 2013 2016 2020 2012 2014 2015 2017 2018 2019

2.500

4.200

Post-salt

Pre-salt

Transfer of Rights

New Discoveries*

2011 2.022 mbpd

95%

5%

2016 2.500 mbpd

69%

30% 1%

2020 4.200 mbpd

42%

28%

19%

12%

Baleia Azul (Cid. Anchieta)

Baúna e Piracaba (Cid. Itajaí)

Iracema Norte

Maromba

Bonito

Entorno de Iara Norte Pq. Baleias (P-58)

Roncador IV

(P-62)

Sapinhoá Norte (Cid. Ilhabela)

Iracema Sul

(Cid. Mangaratiba)

Lula Alto

Lula Central

Lula Sul

Franco 1

Carioca 1

Lula Norte

Franco 2

Lula Ext. Sul

Iara Horst

NE Tupi

Carimbé

Aruanã

Iara NW

Franco 3

Franco 4

Sul de Guará

Júpiter

Carcará

Sul Pq. Baleias

Franco 5

Espadarte I

Espadarte III Florim

Piloto Sapinhoá (Cid. São Paulo)

Piloto Lula NE (Cid. Paraty)

Papa-Terra (P-61 e P-63)

Roncador III (P-55)

Oil and Gas Production Post-salt, Pre-salt and Transfer of Rights

2.022

UEPs 38 up to 2020

FPSO-R

OTHERS

Production Curve in Brazil

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2011 2013 2016 2020 2012 2014 2015 2017 2018 2019

2.500

4.200

Post-salt

Pre-salt

Transfer of Rights

New Discoveries*

2011 2.022 mbpd

95%

5%

2016 2.500 mbpd

69%

30% 1%

2020 4.200 mbpd

42%

28%

19%

12%

2.022

New Drilling Rigs and Production Curve

Rigs

28 up to 2020

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Offshore Main Investment Programs

Code Description

EBN-I Logistics Department Bunkers Program – Phase I

EBN-II Logistics Department Bunkers Program – Phase II

Post-Salt E&P Post-Salt Program

Pre-Salt E&P Pre-Salt Program

PROMEF-I Transport Fleet Expansion Program – Phase I

PROMEF-II Transport Fleet Expansion Program – Phase II

Sondas Drilling Units Program

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Agenda

1. Petrobras Portfolio

2. Shipyards

3. Local Content

4. HSE

5. Basic Design Drivers

6. EPC Drivers & Oportunities

7. Final Comments

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Shipyards

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Large Shipyards

● Suape-PE

Rio Grande–RS ●

● Açú-RJ Rio de Janeiro-RJ ●

● Aracruz-ES

● Maragogipe-BA

● Angra dos Reis-RJ

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Large Shipyards

Shipyard Owner Technological Partner

ERG SPE ENGEVIX and FUNCEF COSCO, China

BrasFELS KeppelFELS, Singapore KeppelFELS, Singapore

EAS Camargo Corrêa and Queiroz Galvão Ishikawajima, Japan

OSX EBX Hyundai, South Korea

EJA Jurong Shipyard Pte Ltd, Singapore Jurong, Singapore

EEP Odebrecht, OAS, UTC and Kawasaki Heavy Industries, Japan

Kawasaki, Japan

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Capacities

Shipyard Steel(t/m) Drydock (L x W) (m) Pier (m) Cargo Handling (t)

ERG-1/2 3.000 2 VLCC (350X130) 800 2.000(future)/600 gantry

BrasFELS 2.000 Jack-up (125x70) 928 2.000(future)/660 gantry

EAS 13.300 VLCC (73x400) 1.410 2x1.500 gantry

OSX 15.000 2 VLCC (480x130) 3.525 8.000 crane/1.600 gantry

EJA 4.000 2 VLCC (380x120) 950 700 gantry

EEP (*) 5.000 VLCC (372x85) 1.440 2.400 crane/2x1.000 gantry

(*) second phase

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Drilling Rigs

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Integration Sites

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Main Integration Sites

● Candeias-BA

● Suape-PE

● Rio Grande–RS ● São José do Norte-RS

● Paranaguá-PR

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Modules Construction

Sites

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Main Modules Construction Sites

● Charqueadas–RS

● Itaguaí-RJ

● Niteroi-RJ

● Itajai-SC

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Agenda

1. Petrobras Portfolio

2. Shipyards

3. Local Content

4. HSE

5. Basic Design Drivers

6. EPC Drivers & Oportunities

7. Final Comments

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Local Content Policy

PETROBRAS LOCAL CONTENT POLICY The Projects and Contracts for PETROBRAS shall support the challenges of the Business and Management Plan and therefore to maximize the Local Content, on competitive and sustainable basis, accelerating the development of the markets where PETROBRAS acts and guided by ethics and continous technological development.

December, 22nd 2011

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Compliance with capital discipline, assuring competitiviness to the bidding processes and reducing logistics and finacial risks on projects

Capital Discipline

Coordination of the procurement processes for the same items of different investments, as pratical as possible.

Procurement Integration

Unification of criteria for Local Content in all contracts. Standard Requirements

Development of a sustainable supply chain for the industry. Local Suppliers

Development of a strong local engineering market. Local Engineering

Focus on technological local gaps. Technological Gaps

Local Content Drivers

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Agenda

1. Petrobras Portfolio

2. Shipyards

3. Local Content

4. HSE

5. Basic Design Drivers

6. EPC Drivers & Oportunities

7. Final Comments

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HSE

• Petrobras’ Value

• Zero Lost Time Incident (LTI)

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Agenda

1. Petrobras Portfolio

2. Shipyards

3. Local Content

4. HSE

5. Basic Design Drivers

6. EPC Drivers & Oportunities

7. Final Comments

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Basic Design Drivers

•Simplicity (low capex, high operability and reliability)

•International standards

•International metrics

•Local content

•High quality

•Detailed Planning – investment, term and local content

•Ethics code

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Agenda

1. Petrobras Portfolio

2. Shipyards

3. Local Content

4. HSE

5. Basic Design Drivers

6. EPC Drivers & Oportunities

7.Final Comments

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EPC Drivers & Opportunities

•Drivers • Same basic design directives (simplicity, international standards and

metrics, local content, high quality) • Detailed planning to achieve investment, schedule and local content • Zero Lost Time Incident (LTI) • No spills • Ethics code

Improvement Opportunities

Management Engineering Resources Technology

Logistics Training HSE Benchmarking

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Agenda

1. Petrobras Portfolio

2. Shipyards

3. Local Content

4. HSE

5. Basic Design Drivers

6. EPC Drivers & Opportunities

7. Final Comments

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Final Comments

•Huge business and management plan

•Sustainable and competitive basis

•Great opportunities

•International metrics & Benchmarking

•Technological gaps

•Engineering

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