SUBSEA: Global Opportunities BRAZIL Petrobras … Global Opportunities BRAZIL Petrobras Perspective JosØFormigli E&P Production Engineering September 2005

SUBSEA: Global Opportunities

BRAZIL

Petrobras Perspective

José FormigliE&P

Production EngineeringSeptember 2005

2

2005 Production

13.02 billion boe

Offshore (0-300m)Offshore (0-300m)OnshoreOnshore Offshore (300-1500m)Offshore (300-1500m) Offshore (> 1500m)Offshore (> 1500m)

2004 Proven Reserves (SPE)

1,91 thousand boed

10% 11%

56%

23%

8% 19%

37%

36%Current Exploratory Area

149.5 thousand km2

Petrobras Production and Reserves X Water DepthPetrobras Production and Reserves X Water Depth

5

62

1518

3

Expansion of Exploration Frontiers and New Oil Producing Basins

Expansion of Exploration Frontiers and New Oil Producing Basins

Fields discovered until 1984

Fiels discovered between 1984 and 2001

Fields discovered in 2002/2003

Oil and gas discoveries under evaluation

BS-500BS-500

BC-20BC-20Gas and light oilGGaas s andand light oillight oil

ESS-130 (Light oil)ESSESS--130 130 (L(Light oilight oil))

(Light oil)(L(Light oilight oil))

GasGGaass

(Heavy oil)((Heavy oilHeavy oil))

(Heavy oil)((Heavy oilHeavy oil))

4

2,200

2,100

2,000

1,910

1,700

2,300

1,400

1,600

1,800

2,000

2,200

2,400

2005 2006 2007 2008 2009 2010

Albacora LesteP-50

180,000 bpd2005

WI 90% BR

Albacora LesteP-50

180,000 bpd2005

WI 90% BR

BarracudaP-43

150,000 bpdCaratinga

P-48150,000 bpd

2005

BarracudaP-43

150,000 bpdCaratinga

P-48150,000 bpd

2005

JubartePhase 1

P-3460,000 bpd

2006

JubartePhase 1

P-3460,000 bpd

2006

Marlim LesteP-53

180,000 bpd2008

Marlim LesteP-53

180,000 bpd2008

Golfinho Mod. 1

100,000 bpd2006

Golfinho Mod. 1

100,000 bpd2006

RJS-409Espadarte

100,000 bpd2007

RJS-409Espadarte

100,000 bpd2007

Frade2009

WI 30% BR

Frade2009

WI 30% BR

RoncadorP-52

180,000 bpd2007

RoncadorP-52

180,000 bpd2007

RoncadorP-54

180,000 bpd2007

RoncadorP-54

180,000 bpd2007

Marlim SulModule 2

P-51180,000 bpd

2008

Marlim SulModule 2

P-51180,000 bpd

2008

Piranema20,000 bpd

2006

Piranema20,000 bpd

2006

GolfinhoMod. 2

100,000 bpd2007

GolfinhoMod. 2

100,000 bpd2007

Albacora Extension

100,000 bpd2010

Albacora Extension

100,000 bpd2010

RoncadorP-55

180,0002010

RoncadorP-55

180,0002010

GolfinhoFPSO Mod. 3100,000 bpd

2010

GolfinhoFPSO Mod. 3100,000 bpd

2010

JubartePhase 2

P-57180,000 bpd

2010WI 85% BR

JubartePhase 2

P-57180,000 bpd

2010WI 85% BR

Domestic PETROBRAS Oil Production X New ProjectsDomestic PETROBRAS Oil Production X New Projects

5

1000 m

2500 m

1500 m

Module 42013

Module 1In Operation

Module 22008 2012

Módulo 3

FPSO Marlim SulP-40

P-38

P-51

Oil PipelineGas Pipeline

P-40 / P-38 Complement

Production Wells 16 5 14

Injection Wells 10 4 10

Capacity (bpd) 155.000 100,000 180,000

First Oil 2001 2004 2008Production System

P-40 (SS) P-38 (FSO)

FPSO-MLS P-51(SS)

API 23-27 25 22

feasibility

under

study

Modules 3 & 4

Module 1Highlights Module 2

Module 1Complement

2004

Fields in Development �Marlim SulFields in Development �Marlim Sul

Water depth:850 - 2,400 m

6

Fields in Development � RoncadorFields in Development � Roncador

HighlightsModule 1A

Phase IModule 1A

Phase IIModule 2 Module 3 Module 4

Production wells 8 20 10

Injection wells 3 10 6

Capacity (bpd) 90,000 180,000 180,000

First oil 2002 2007 2007

Production system FPSO Brasil SS P-52 FPSO P-54

API 27 to 31 27 to 31 18

underfeasibility

study

underfeasibility

study

P-52 (2007)

MODULE

1A

MODULE

3

MODULE

4MODULE

2P-54 (2007)

FPSO BrasilOperating

1,500 m

1,900 m

Water depth: 1,500 � 1,900 mWater depth:

1,500 � 1,900 m

P-55 (2010)

7

Fields in Development � JubarteFields in Development � Jubarte

Highligths Pilot Phase 1 Phase 2


Injection wells 6

Capacity (bpd) 20.000 60.000 150.000

First Oil 2002 2005 2009

Production System Seillean FPSO P-34 FPSOoAPI 17 17 17

Water Depth: 1,240�1,350 mWater Depth:

1,240�1,350 m

P-57 P-57

8

Fields in Development � GolfinhoFields in Development � Golfinho

Highligths Pilot Phase 1 Phase 2


Injection wells 2 3

Capacity (bpd) 25,000 100,000 100,000

Production System SeilleanFPSO

CapixabaFPSO

oAPI 28 28-41 28

Water Depth: 1,300�1,450 mWater Depth:

1,300�1,450 m

9

PETROBRAS OptionPETROBRAS Option

Subsea Equipment and Floating Production Units:Subsea Equipment and Floating Production Units:

� Reservoir Characteristics

� Favorable Sea Environmental Conditions

� Early Production Unit as a Field-scale Lab for Definitive Systems

� Extended Well Testing & Phased Development

� Lower Capital Exposure & Early Cash Flow

� Anticipation of First Oil & High Level of Flexibility

� Field-proven & Reliable Technology

� Partnerships with the Main Suppliers

� Reservoir Characteristics

� Favorable Sea Environmental Conditions

� Early Production Unit as a Field-scale Lab for Definitive Systems

� Extended Well Testing & Phased Development

� Lower Capital Exposure & Early Cash Flow

� Anticipation of First Oil & High Level of Flexibility

� Field-proven & Reliable Technology

� Partnerships with the Main Suppliers

10

PETROBRAS ExperiencePETROBRAS Experience

Campos Basin

Santos Basin

Espirito Santo Basin

85% of the Domestic Reserves & Production

Campos, Espírito Santo and Santos Basins Main Data (June 2005)

4,498 Km Pipeline Network33Production Fields13Fixed Plataforms

23Floating ProductionUnits

50 � 3,400 mWater Depths

11

PETROBRAS Subsea ExperiencePETROBRAS Subsea Experience

Petrobras Offshore FacilitiesPetrobras Offshore FacilitiesSubseaSubsea Completion RecordsCompletion Records

1693,443Rigid Pipelines(Km)

2161,486 Umbilicals (Km)

3502,477Subsea FlexibleFlowlines (Km)

0258SubseaManifolds

47548Subsea Trees

Planned2005

InstalledDec/2004

Equipment

12

Floating Production SystemsFloating Production Systems

Overall Efficiency =Overall Efficiency =Actual ProductionActual Production

Potential ProductionPotential Production

* Potential Production - Sum of maximumwell production capacities which produceto a Production Unit.

* Potential Production - Sum of maximumwell production capacities which produceto a Production Unit.

Deepwater Fields Range:Overall Efficiency = up to 98%

Deepwater Fields Range:Overall Efficiency = up to 98%

Period: 2001-2003Period: 2001-2003

13

PROCAP-3000PROCAP-3000

Application Scenarios :

Roncador (1.500 � 2.000m), Mód 2,

Mód 3, Mod 4

Marlim Sul Mod 2 (1.100 � 1.500m)

Marlim Leste (1.100 � 1.700m)

Albacora Leste (800 � 2.100m)

Jubarte I, II (1.300-1.500m)

Golfinho I, II (1.300-1.500m)

Prospects at 3,000m WD

West Africa & GoM

Application Scenarios :

Roncador (1.500 � 2.000m), Mód 2,

Mód 3, Mod 4

Marlim Sul Mod 2 (1.100 � 1.500m)

Marlim Leste (1.100 � 1.700m)

Albacora Leste (800 � 2.100m)

Jubarte I, II (1.300-1.500m)

Golfinho I, II (1.300-1.500m)

Prospects at 3,000m WD

West Africa & GoM

Petrobras current strategic in-house corporate program dedicated to ultra-deepwater exploitation systems.Petrobras current strategic in-house corporate program dedicated to ultra-deepwater exploitation systems.

14

PROCAP-3000 Main GoalsPROCAP-3000 Main Goals

To provide technological solutions to:

Produce and support next phases of Marlim Sul, Roncador, Marlim Leste, Jubarte, Albacora Leste and Espirito Santo Basin light oil recent discoveries;

Make feasible the production from new discoveries in water depths up to 3,000 meters;

Reduce the Capital Expenditures in production developments in water depths beyond 1,000 meters;

Reduce Lifting Cost in currently producing fields in water depths beyond 1,000 meters.

To provide technological solutions to:

Produce and support next phases of Marlim Sul, Roncador, Marlim Leste, Jubarte, Albacora Leste and Espirito Santo Basin light oil recent discoveries;

Make feasible the production from new discoveries in water depths up to 3,000 meters;

Reduce the Capital Expenditures in production developments in water depths beyond 1,000 meters;

Reduce Lifting Cost in currently producing fields in water depths beyond 1,000 meters.

15

PROCAP-3000 Projects PortfolioPROCAP-3000 Projects Portfolio

Floating Production Units & Mooring

Drilling and Completion

Artificial Lift & Boosting

Flow Assurance

Subsea Equipment

Flowlines and Riser Systems




Flow Assurance

Subsea Equipment

Flowlines and Riser Systems

16

PROCAP-3000 Project Portfolio




Fit for Purpose Hull for Ultra-Deepwaters > MonoBR > FPSO BR

Mooring > Torpedo Anchors > Polyester Ropes > Spread Mooring

Fit for Purpose Hull for Ultra-Deepwaters > MonoBR > FPSO BR

Mooring > Torpedo Anchors > Polyester Ropes > Spread Mooring

17





Deepwater Drilling Equipments > Torpedo Subsea Well Base

> Slender Wellhead

> Casing Drilling

> Surface BOP Drilling

Deep Horizon Drilling > HPHT Well Drilling and Completion > Hard Rock Drilling Optimization

18





Boosting systems for ultra-deepwater

> Subsea electrical submersible pump

> Subsea multiphase pumping system

> Subsea Separation System

Gas-lift for deepwater satellite well

19


Subsea Equipment


Subsea EquipmentSubsea equipment for 3,000m water depth

> Guide lined installation procedures for 3,000m water depth

> Completion riser for 3,000m water depth

> Subsea test tree with ESP connection

> Guide lined installed subsea injection tree

Unconventional subsea production systems

> Subsea boosting and heating system

> Water Separation Subsea System

> Raw Sea Water Injection

Participation in DeepStar Phase V

Subsea system for 3,000m water depth long term test

Subsea equipment for 3,000m water depth

> Guide lined installation procedures for 3,000m water depth

> Completion riser for 3,000m water depth

> Subsea test tree with ESP connection

> Guide lined installed subsea injection tree

Unconventional subsea production systems

> Subsea boosting and heating system

> Water Separation Subsea System

> Raw Sea Water Injection

Participation in DeepStar Phase V

Subsea system for 3,000m water depth long term test

20


Flowlines & Riser Systems


Flowlines & Riser SystemsSteel catenary riser systems for ultra-deepwater > Steel catenary riser systems for FPSOs > Steel catenary riser systems for Semi-Submersibles > Installation methods for SCRs > Lazy-wave steel catenary risers

Flexible riser systems for ultra-deepwater > Steep-wave flexible risers for FPSOs and SS > Thermal insulation

Subsea risers and pipelines (gathering, exportation and control) for 3,000m water depth

Alternative riser systems for ultra-deepwater > Tethered riser buoy (TRB) > Hybrid catenary riser (HCR) > Self-standing riser (Tower) > Single line offset riser (SLOR) > Concentric offset riser (COR)

Steel catenary riser systems for ultra-deepwater > Steel catenary riser systems for FPSOs > Steel catenary riser systems for Semi-Submersibles > Installation methods for SCRs > Lazy-wave steel catenary risers

Flexible riser systems for ultra-deepwater > Steep-wave flexible risers for FPSOs and SS > Thermal insulation

Subsea risers and pipelines (gathering, exportation and control) for 3,000m water depth

Alternative riser systems for ultra-deepwater > Tethered riser buoy (TRB) > Hybrid catenary riser (HCR) > Self-standing riser (Tower) > Single line offset riser (SLOR) > Concentric offset riser (COR)

21

ConclusionsConclusions

� Deep and Ultra-deepwaters are �mandatory� for Petrobras domestic production increment;

� Petrobras operational experience leads to �one most probable option� : FPS + Subsea Completions;

� Petrobras operational record proves competitiveness of subsea production systems

� Technology is available for 2000m production developments;

� Continuous Investment in R&D to turn feasible production of new discoveries in water depths up to 3,000 meters;

� Deep and Ultra-deepwaters are �mandatory� for Petrobras domestic production increment;

� Petrobras operational experience leads to �one most probable option� : FPS + Subsea Completions;

� Petrobras operational record proves competitiveness of subsea production systems

� Technology is available for 2000m production developments;

� Continuous Investment in R&D to turn feasible production of new discoveries in water depths up to 3,000 meters;

22

Thank you very muchThank you very much

Documents

SUBSEA: Global Opportunities BRAZIL Petrobras … Global Opportunities BRAZIL Petrobras Perspective JosØFormigli E&P Production Engineering September 2005