Petrobras Experience onDeepwater Oil Production

Mauricio WerneckPROCAP CoordinatorPetrobras

Encuentro TecnológicoInternacional sobre los RecursosEnergéticos del Golfo de México

Scenario – Water Depth

2005 Production

13,23 billion boe

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

2005 Proven Reserves (SPE)

1.958.000 boed

10% 10%

55%

25%19%

16%

60%

5%

Exploratory Area160,500 km2

24%

12%

26%

38%

Proven Reserves as of Dec/2006 (SPE)(13.75 billion boe)

< 22º API(heavy)

14% 12%

28%45%

Gas > 31 º API (light)

22 – 31 º API(intermediate)

Oil Gravity Profile

Main Offshore Production Locations

• Reservoir Characteristics• Mild 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

Petrobras Development Approach

P-52

MODULE

1A

MODULE

3MODULE

4MODULE

2P-54

FPSO Brasil1,500 m

1,900 m

Water depth:1,500 – 1,900 m

P-55

Roncador Field Development

221827 to 3127 to 31API

SS P-55FPSO P-54SS P-52FPSO BrasilProduction unit

2011200720072002First oil

180,000180,000180,000100,000Capacity (bpd)

76113Injection wells

Underfeasibility study

1111108Production wells

Module 4Module 3Module 2Module 1APhase II

Module 1APhase I

Highlights

1970

1974 – Garoupa field discovery

1979 – atmosferic subsea productionsystem

1980

1982 – Bonito field template

1984 – Albacora field discovery

1985 – Marlim field discovery

1985 – first diverless installation of a Xmas Treebeyond diver access depth – 383m

1986 – PROCAP first phase

1980

1987 – Albacora field production

1987 – R&D Subsea Technology Group creation

1986 – Layaway XTree connectionsystem in Albacora field

1994 – First ESP in a subsea well – RJS-221

1993 – Subsea Xmas Tree InterfacesStandardization

1990

1991 – Marlim production in pre-pilot phase

1992 – Temporary AbandonmentBase system – 600m – MRL-20D

1990

1996 – Roncador field discovery

1995 – Albacora Manifold diverlessinstallation at 620m

1996 – Vertical Direct connectionAB – 610m

1997 – Vertical Load anchors andPolyester lines Taut Leg system

1990

1999 – Roncador production withDrill Pipe Riser (DPR) and DP unit

1998 – First Deepwater HorizontalTree for ESP subsea wellRJS-477 – 1107m

1998 – First SCR on a semi submersible unitP18 – 910m

2001 – Jubarte field discovery

2000 – single point manifoldinstallation MRL – 900m

2001 – VASPS installationMA – 430m

2001 – Horizontal Trees for 2500mRO and MLS

2000

2003 – Golfinho field discovery

2002 – pulley manifold installationRO –1900m

2006 – pendulummanifold installationRO – 1900m

2000

2002 – Jubarte field production with DP unit, DPR andESP above the Xmas Tree

2005 – Golfinho field production with DPunit, DPR and ESP above the Xmas Tree

2004 – Torpedo piles – anchor system

2005 – Torpedo wellheads

2006 – Horizontal Tree for ESP wellswith tree cap installed by ROV

2000

2006 – FPSO BR hull concept

2006 – Mono BR hull concept

2007 – RHAS – Self standinghybrid export riser for P-52

2000

2009 – Tethered Riser Buoy

2008 – SBMS-500 (Multiphasepump)

2008

2010 – SSAO – O/W subseaseparation system

Equipment Installed Dec/2006

Planned(2007)

Subsea Trees

Subsea Manifolds

Subsea FlexibleFlowlines (km)

Umbilicals(km)

Rigid Pipelines(km)

Monobuoys

Floating ProductionUnits

1,900

608 40

1,857

428

400

200

3

275

-Fev/2002: Exploration Well at 2,853mFev/2002: Exploration Well at 2,853m

OTCOTC19921992

OTCOTC20012001

Including Espirito Santo & Santos Basins, Piranema field NE Brazil

Petrobras Offshore Activity

3,200

60 -

1 0 b p d

3

G 3 4 6 7G 3 4 6 7

ONSHORE OFFSHORE <= 300m OFFSHORE > 300m TARGET

-

500

1.000

1.500

2.000

2.500

1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2005 2006 2011

YEAR

M b

pd

2374

1778

Production and Target

Conclusion

• Technology development provides importanttools to face the challenging scenario ofdeepwater oil production

• Equipment are available, but to be able tospecify and correctly use them is an importantlesson from the experience

• Field development in phases allow moreflexibility and the use of information fromprevious phases on calibration of the next ones

Thank YouMauricio WerneckPROCAP Coordinatormwerneck@petrobras.com.br55 21 3865 4819