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Company Profile Competitive Advantages 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$) Dividends / Net Income US$ Million 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% 2010 2006 2007 2008 2009 Net Income 1H11 US$ Million 2007 2008 2009 2010 5,000 10,000 15,000 20,000 12.826 13.138 15.504 19.184 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. Growth Strategy 2011-2015 Business Plan Consolidated Financial Results 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

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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