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Clarifications about Juruá
Rio de Janeiro, February 09, 2010 Petróleo Brasileiro S.A. - Petrobras, clarifies, in response to written notice CVM/SEP/GEA-2/n.083/10, regarding news published by the Valor Econômico Newspaper on February 08 2010, which states, among other things, that Petrobras is planning a new natural gas pipeline in the Amazon and that the four wells in the Juruá field will be able to produce upwards of 500,000 cubic meters each.
Petrobras clarifies that its 2009-2013 Business Plan states, among other things, that the Juruá field will go on stream in 2011 and that to make the consumption of the gas coming from it feasible, it will be necessary to build a connection gas pipeline measuring an estimated 125 km in length. Both projects are considered in the Plan, and the amount expected to be invested to build the gas pipeline is part of the Gas and Energy area's project portfolio, which adds up to $11.8 billion in the period, while the exploratory and production development activities to be done for the field are part of the Exploration and Production area's project portfolio, which totals $104.6 billion.
The Company did not announce this information as a Material Fact, since the production development project for the field was already featured in the announced production curve and in the scheduled investments; also, the information provided in the story only provides details on the project's operating issues, and makes no change to the amount of the investment or to the production potential.
It is also worthwhile to emphasize the following items regarding the map shown in the report: (a) the amount of the investment, R$4.6 billion, regards the approximate investment in the Urucu-Manaus Gas Pipeline, and the amount of the investment for the Juruá-Urucu gas pipeline was not announced; (b) the map shows the distance between the main areas surrounding the Urucu Province and is aimed only to emphasize the major distances that are characteristic of the Amazon, and (c) the only gas pipeline section shown in the map is the one that has already been completed, i.e., Urucu-Manaus.
Additionally, we announce that the production curve for 2010 projects a production of 85 million cubic meters per day and 93 million cubic meters per day in 2011. The Juruá field will contribute, in 2011, with approximately 2 million cubic meters, i.e., only 2% of the total natural gas production estimated for 2011.
www.petrobras.com.br/ri/english
Contacts: PETRÓLEO BRASILEIRO S. A. PETROBRAS
Investor Relations Department | E-mail: petroinvest@petrobras.com.br / acionistas@petrobras.com.br
Av. República do Chile, 65 22nd floor - 20031-912 - Rio de Janeiro, RJ | Tel.: 55 (21) 3224-1510 / 9947
This document may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that merely reflect the expectations of the Companys management. Such terms as anticipate, believe, expect, forecast, intend, plan, project, seek, should, along with similar or analogous expressions, are used to identify such forward-looking statements. 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.
PETRÓLEO BRASILEIRO S.A--PETROBRAS |
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By: |
/S/ Almir Guilherme Barbassa
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Almir Guilherme Barbassa
Chief Financial Officer and Investor Relations Officer |
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that are not based on historical facts and are not assurances of future results. These forward-looking statements are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results o
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