Brazil's Petrobras' plans for the development of the Cascade and Chinook Fields in ultra deep waters of the Gulf of Mexico given by César Palagi Walker Ridge Asset Manager Petrobras America Inc. February 26th , 2010

1. BRATECC – The Brazil-Texas
Chamber of Commerce
The Development of Cascade and
Chinook Fields in Ultra Deep Waters of the
Gulf of Mexico
César Palagi
Walker Ridge Asset Manager
Petrobras America Inc.
February 26th , 2010
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2. Agenda
1. Introduction
2. Project Overview
3. Reservoir and Well Challenges
4. Subsea and FPSO Challenges
5. Final Message
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3. Agenda
1. Introduction
2. Project Overview
3. Reservoir and Well Challenges
4. Subsea and FPSO Challenges
5. Final Message
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4. Petrobras Summary
Proven Reserves (SPE): 15 bi boe Employees: 74,000
O&G Production: 2.6 million boe/day Refining Throughput: 2.1 million boe/day
United Kingdom
New York
USA Portugal Japan
Houston Turkey
Iran China
Libya Pakistan
Mexico Senegal
Nigeria India
Colombia Venezuela Singapore
Tanzania
Ecuador BRAZIL Angola
Peru Mozambique
Bolivia
Rio de
Paraguay Janeiro
Uruguay
Argentina
HEAD OFFICE TRADING GAS & POWER
DOWNSTREAM E&P REPRESENTATIVE OFFICE
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SOURCE: PETROBRAS 4

5. Petrobras as an Operator
of Floating Production Systems
FPS Operators
All Contracted Vessels (258 Vessels Total)
0 20 40 60 80 100 120
Petrobras 50
Shell 15
Statoil 15
BP 13
ExxonMobil 13
Chevron 12
CNOOC 10
Anadarko 9
ConocoPhillips 9
Total 9
ENI/Agip 8
Others 95
Copyright © 2010 ODS-Petrodata, Inc. Inc.
Copyright © 2010 ODS-Petrodata,
FPSO Semi
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6. Petrobras E&P Portfolio in Gulf of Mexico
Tiber Cascade
Chinook
Stones
St. Malo
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7. Agenda
1. Introduction
2. Project Overview
3. Reservoir and Well Challenges
4. Subsea and FPSO Challenges
5. Final Message
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8. Cascade and Chinook Lease Holders
• Petrobras – 100%
The Cascade Field
(Blocks WR205, 206,249 &250)
• Petrobras – 66.67%
The Chinook Field • Total – 33.33%
(Blocks WR 425,426,469&470)
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9. Cascade and Chinook
Field History (1996 Lease Sale)
Year Cascade Chinook
2002 1 Discovery Well
2003 1 Discovery Well
2004
2005 2 Appraisal Wells
2006 Petrobras took Operatorship
2007
2008
2009 2 Wells
2010 9 of 20
1 Well
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10. Cascade and Chinook
We Were Here in Aug/2006
• Limited geological and well data;
• Lack of field analogs;
• Harsh environmental conditions;
• Ultra-deep waters;
• Lack of pipeline infrastructure;
• FPSO regulation under development;
• Tight SOP deadlines;
• Willingness to produce ASAP.
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12. Project Schedule
First Oil in Mid 2010 – As Planned
2006 2007 2008 2009 2010
1st Half 2nd Half 1st Half 2nd Half 1st Half 2nd Half 1st Half 2nd Half 1st Half 2nd Half
Design
Facilities
Procure Facilities
Petrobras Estimated
Operator 1st Oil
Execute Facilites
Design Wells
Drill & Complete
Regulatory Compliance
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13. Agenda
1. Introduction
2. Project Overview
3. Reservoir and Well Challenges
4. Subsea and FPSO Challenges
5. Final Message
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14. WesternGeco Seismic Acquisition in Cascade
ls
Recording Vesse
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15. Reservoir Challenges
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16. Cascade and Chinook Rigs
2008 2008 2009
Ocean Endeavor - 10,000 ft WD West Sirius - 10,000 ft WD Discover Deep Seas
( Under Contract to 10,000 ft WD
Devon Energy ) ( Under Contract to (Under Contract to Chevron)
Diamond Offshore Drilling Devon Energy ) Transocean Ltd.
Seadrill Limited
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17. Well Drilling Challenges
( 27,000 ft )
Sea Level
Empire State Gulf of
Building ~1250 ft Mexico
8,000’ Suprasalt
Sediment
Allochthonous Sigsbee
16,000’ Salt Canopy
Upper Tertiary
24,000’ Sediments
Lower
32,000’ Tertiary
Cretaceous
Autochthonous Salt
Basement
40,000’
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Modified from Keith Couvillion, Chevron, 2008 17

18. Well Completion Challenges
STMZ –
Single Trip 1,200 ft
Multi-Zone
Frack Pack
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19. Agenda
1. Introduction
2. Project Overview
3. Reservoir and Well Challenges
4. Subsea and FPSO Challenges
5. Final Message
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20. Shuttle Vessel
Subsea Challenges
FPSO
Gas Export
FSHR
Dual PIP
Production
Gas Export FSHR
Flowlines
Pipeline
Power
Umbilical
Boosting Tree
Dual Flowlines
Pump
4-Slot
Manifold Boosting
Pump
Tree
Control
Umbilical
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21. Subsea Risers and Equipment
Manifolds: Houston
Technip - Deep Blue
Riser Can
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22. Pipe-in-pipe Installation
ere d
PLE T being Low Heerema Balder
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23. Umbilical Installation
Umbilical: Alabama
Subsea 7 Seven Seas
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24. Subsea Pull-in of Umbilicals
ch
l in Win
R OV Pul
Veolia Vikin
Umbilical in the Buoy g Poseidon
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25. FPSO and Shuttle Challenges
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26. FPSO Mooring System
Instalation in GoM
Turret Buoy in GoM Turret Bu
oy Loado
ut
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27. FPSO Construction in Singapore
FPSO Sail Away From Singapore
Aboard the FPSO at
Keppel Shipyard,
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28. Shuttle Tanker Construction
in Philadelphia
Shuttle: Philadelphia
Shuttle La
unching
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29. Gas Export
Discovery Pipeline System
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30. Agenda
1. Introduction
2. Project Overview
3. Reservoir and Well Challenges
4. Subsea and FPSO Challenges
5. Final Message
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31. Cascade and Chinook Project
Worldwide Construction Sites
Norway
Finland
Netherlands
Finland
Sweden
Denmark
Canada UK
France Czech Republic
Italy
USA Portugal
Spain
China
Mexico
India
Indonesia
Singapore
Brazil Australia
Argentina
Equipment and Services
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from over 20 Countries 31

32. Cascade and Chinook
Field Activity Schedule
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33. Project Team
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34. Cascade and Chinook
in Houston Skyline
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35. Thank
you.
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