C o m p a n y P r o f i l e
C o m p e t i t i v e A d v a n t a g e s
The volume of proved oil and gas reserves and the ongoing success rate in the
company’s exploration results have afforded Petrobras a prominent position and
growth in the industry.
Petrobras’ performance indicators in the first semester of 2011 include: average
oil and gas production of 2.6 million barrels per day; 16 refineries; 130,2 thousand
square kilometers of exploration areas, with more than 15,000 producing wells;
132 production platforms; a fleet of 52 own vessels; 48 land and sea terminals and
8,477 service stations.
In Brazil, Petrobras has the leadership in all segments of the value chain and the
company’s growing production is fully supported by its discoveries. This dominant
position combined with the strong local demand in one of the fastest growing
global markets enhances the company’s logistical synergies and credit quality.
FACT SHEET 1H11
Founded in 1953, Petrobras is a publicly traded corporation operating in an integrated
manner in the following segments of the oil, gas, and energy industry: exploration
and production; downstream, marketing, transportation and petrochemicals;
distribution; natural gas, energy and biofuels. Acknowledged as the leader in deep
and ultra-deep water exploration and production, Petrobras is currently the world’s
third largest energy company (source: PFC Energy, 2010), and the best managed
company in Latin America (source: Euromoney, 2010).
86% - E&P
6% - G&P
3% -Distribution
5% - International
Dividend Payout
Adjusted EBITDA: US$ 18.959 billion (1H11)
Dividends (US$) Dividends / Net Income
US$
Mill
ion
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
20%
25%
30%
35%
40%
29%
28%
22%
29%
35%
20102006 2007 2008 2009
Net Income
1H11
US$
Mill
ion
2007 2008 2009 2010
5,000
10,000
15,000
20,000
12.826 13.138
15.50419.184
13.172
The 2011-2015 Business Plan provides for investments of $224,7 billion. Of this
total, $213.5 billion are being allocated to projects in Brazil and a further $11.2
billion to overseas activities.
The focus will be on the Exploration and Production segment, which will get
$127,5 billion (Brazil and International), for a total of 57% of the investments. Of
this amount, 45% billion will be set aside to develop the pre-salt alone, where
average production is expected to be 543,000 bpd in 2015.
The oil and natural gas production projected for 2015 is expected to top at 3,9
million boed, of which 3.68 million boed will represent the domestic production.
G r o w t h S t r a t e g y
2011-2015 Business Plan
C o n s o l i d a t e d F i n a n c i a l R e s u l t s
In the first semester of 2011, Petrobras reported a net profit of $13,2 billion, up
53,8% from 2010. In the period, EBITDA reached $19 billion, while investments
totaled $20,2 billion. In October 2010, the Company completed a global public
offering of common and preferred shares that resulted in a capital increase of
$70,005 billion. The proceeds were allocated to pay for the Transfer of Rights
Agreement and to finance the Business Plan.
Net Income
EBITDA
Net Debt
Shareholders Equity
Net Debt / Net Capitalization
Net Debt / EBITDA
15.504
28.982
40.963
94.058
31%
1,2
19.184
32.626
36.701
183.397
17%
1,03
13.172
18.959
43.382
205.917
17%
1,07
(Million US$) 2009 2010 1H11
E&P
RTM
Petrochemicals
G&P
Corporate
Biofuels
Distribution
2% US$ 224.7 billion 1%2%1%
6%
31%70.6 127.5 57%
Fact Shet 1 H11_v4.indd 1 28/09/2011 12:46:49
In 2010, an average of 90% of the refi ning capacity was used. Sales on the Brazilian
market in 1H11 were 8,3% higher than those in 1H11 at 2,422,000 barrels per day.
Oil products sales increased 9% vs. 1H11. There was also a strong growth in
gasoline sales (17,3%) and an increase of oil imports due to the domestic market
growth. The proved oil and natural gas reserves amounted to 15.985 billion boe
in 2010, according to the SPE criterion, representing a 5% growth compared to
2009. Petrobras maintains its goal of increasing reserves at a faster pace than
production and of reaching a minimum 100% Reserve Replacement Index (RRI).
In 2010, the RRI was 229%. As a result, according to the SPE criterion, the Reserve/
Production ratio stood at 18,4 years.
In the first half of 2011 Petrobras invested US$ 1,06 billion in international
activities aimed at growing production in the deep-water regions. The
Company currently operates on five continents and in 25 countries, focusing
principally on the United States and on the west coast of Africa.
In 2010, Petrobras invested US$ 402,2 million in social, environmental, cultural,
and sports projects in Brazil and abroad. Since 2006, Petrobras has been listed
on the Dow Jones Sustainability World Index (DSJI), the most important of its
category, recognition of the company’s socio-environmental responsibility and
commitment. It should be pointed out that the company has been a signatory to
the UN’s Global Compact since 2003.
O p e r a t i n g D a t a
I n t e r n a t i o n a l P e r f o r m a n c e
S o c i a l a n d E n v i r o n m e n t a l R e s p o n s i b i l i t y
C o n t a c t s
www.petrobras.com.br/irE-mail: [email protected]: 0800-282-1540 / (21) 3224-1510 / 3224-9947
FACT SHEET 1H11
E q u i t y p e r f o r m a n c e
Ticker* PETR4 PETR3 PBRA PBR
Last Price 23,60 26,10 30,68 33,86
Maximum 12 month 29,36 33,81 36,21 41,56
Minimum 12 month 22,99 25,33 28,91 31,87
*June, 30 2011
Preferred
BM&F Bovespa (R$ per stock) NYSE (US$ per ADR)
Commom CommomPreferred
P r e - s a l t
Petrobras, the global leader in exploration and production in deep and ultra-deep
waters, made one of the biggest discoveries in recent times in the oil industry: the
pre-salt area, which potentially ranks Brazil among the countries with the largest
oil and gas reserves in the world.
In the Lula (previously Tupi) and Cernambi (previously Iracema) fi elds, and in
the Iara, Guará, and Parque das Baleias blocks alone, the recoverable volume is
estimated between 8.1 and 9.6 billion barrels of oil equivalent (boe). This amount,
added to the right to explore a volume of 5 billion boe acquired through the
Transfer of Rights Agreement, may more than double the current Petrobras
reserves. Prospecting at a depth of 5,600 meters from the surface of the sea,
cutting through a 2,000-meter-thick layer of salt, and operating at a distance of
nearly 230 km off the coastline, the company had 100% success rate in all wells
drilled in the Santos Basin pre-salt area.
In October 2010, the production started at the Lula Field, and in last December,
the commerciality of Lula and Cernambi fi elds were declared, considering a total
recoverable volume of 8.3 billion boe. There are currently eight extended well
tests (EWT) going underway in the pre-salt area.
Northeast Carioca
North Guará
Iara Horst
Libra
South Cernambi
P7 Lula Pilot
IG1 Lula Pilot
South Lula
Transfer of Rights
South Guará
Rio de Janeiro
Under Concession
Oil and Gas Production
Thou
s bo
e/da
y
Oil, NLG and Condensate Natural Gas Total
2.4002.301
2.5262.583
2.613
1.97
8
1.91
8 2.11
3
2.15
5
2.17
1
428
442
413
422
383
2010 1H20112007 2008 2009
Fact Shet 1 H11_v4.indd 2 28/09/2011 12:46:55
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