2. The presentation may contain forecasts about future events. Such forecasts merely reflect the expectations of the Company's management. Such terms as "anticipate", "believe", "expect", "forecast", "intend", "plan", "project", "seek", "should", along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein. The Company is not obliged to update the presentation/such forecasts in light of new information or future developments. CAUTIONARY STATEMENT FOR US INVESTORS The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions . We use certain terms in this presentation, such as oil and gas resources, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. Disclaimer Disclaimer
3.
4. NEW PRODUCTION SYSTEMS STATUS P-51 P-53 FPSO Cidade de Niterói 99 12 34 53 AVERAGE 1Q09 (thous. bpd) 9 producers (oil) e 1 producer (gas) 2 producers 1st well: 33 kbpd 02/26/2009 100 FPSO Cidade de Niterói / /Marlim Leste - 01/24/2009 11/30/2008 FIRST OIL - 10 producers and 9 injectors 13 producers and 8 injectors EXPECTED WELLS - 2 producers e 2 injectors 6 producers WELLS 460 180 180 CAPACITY (thous. bpd) Total P-51 / Marlim Sul P-53 / Marlim Leste PLATFORM / FIELD
5. LARGE PROJECTS STARTING UP IN 2009 MANATI expansão FPSO Frade FPSO Espírito Santo ¹ Operated by Chevron ² Operated by Shell PARQUE DAS CONCHAS 3Q09 2Q09 START-UP 35% 30% PETROBRAS’ SHARE 100 thous. bpd 100 thous. bpd CAPACITY Parque das Conchas² Frade¹ FIELD FRADE
6.
7. MAIN DISCOVERIES IN THE POST-SAT REGION * * 2007 to 2009 161 N. Gas and Condensate BR(35%), Repsol(40%), Vale(12,5%),Voodside(12,5%) BM-S-48 Panoramix May-09 1,011 763 708 235 1,374 274 2,354 Water Depth (m) Light Oil N. Gas and Condensate N. Gas and Condensate Light Oil Light Oil Light Oil Oil Fluids BR (100%) BR (65%), EL PASO (35%) BR (65%), EL PASO (35%) BR (100%) BR (100%) BR (100%) BR (60%), STATOIL (40%) Participation BC-60/Caxaréu Mar-2007 BM-ES-5/ Camarupim May-2007 BM-ES-5/ Camarupim Dec-2007 BM-S-40/Tiro May-2008 Golfinho Jul-2008 BM-S-40/Sidon Sep-2008 BM-J-3 Jequitinhonha Nov-2008 Field Date
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18. INVESTIMENTS BY BUSINESS AREA Supply E&P Gas & Energy International Corporate Distribution Others EBITDA (R$ million) Increase in the Company’s investments supported by a strong cash generation Investments in 1Q09 – R$ 14.4 billion 2.2 3.0 0.1 0.4 7.3 0.4 1.0 1.3 1.2 5.1 0,3 2.0 Investments in 1Q08 – R$ 10.2 billion 0,1 0.2
19.
20. For more information: Investor Relations www.petrobras.com.br/ri +55 21 3224-1510 [email_address]
