Cascade and Chinook Journey History and Future

Transcription

1 Cascade and Chinook Journey History and Future Chinook Gas Export César Palagi Walker Ridge Asset Manager Petrobras America Inc. July 9 th, 2012 Cascade 1

2 Disclaimer 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. All projects forecasted herein are subject to approval by the appropriate stakeholders. 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. 2

3 Petrobras E&P Portfolio In The US Gulf Of Mexico Petrobras America General Meeting - 2nd Quarter E&P Blocks (9 shelf, 164 deepwater); 127 Operated by Petrobras (June, 2012) (122 Exploration Blocks, with total area close to 3,000 km 2 ) Outstanding Exploration Results: * Exploration Wells: 33 drilled wells; 22 discoveries (67%) * Wildcat Wells: 19 drilled wells; 11 discoveries (58%) Urca Gila Tiber Hadrian North Hadrian South Lucius Enterprise Ipanema Olympic Logan St.Malo Cascade Chinook Stones Production assets Discoveries under Development or Appraisal Petrobras blocks in the GoM Pliocene Play Miocene Play 3 Lower Tertiary Play Petrobras next Exploration Drilling Wildcat Wells

4 Petrobras is the Lower Tertiary 3rd Largest Player in the GoM Petrobras America General Meeting - 2nd Quarter Gotcha Deep Great White West Great White 2004 Tobago Trident Baha 2009 Buckskin Logan Tiber 2009 Tucker 2006 Kaskida Jack Stones St. Malo Shenandoah Lower Tertiary trend 2005 Cascade Chinook mi km 4

5 Year Cascade Chinook Discovery Well Discovery Well Appraisal Wells 2006 Petrobras Operator 2007 FID Final Investiment Decision Phase Wells Well 2011 Cascade and Chinook Field History (1996 Lease Sale) Well ongoing 5

6 Cascade and Chinook Phased Development Petrobras America General Meeting - 2nd Quarter 2009 Phase 1 2 Wells from Cascade & 1 from Chinook; Subsea X-Trees, Manifolds, Pumps, Flowlines and Risers; Gas exported by Pipeline and Oil by Shuttle Tanker. Phase 1 Configuration Potential Phases 2 & 3 Up to 6 wells on Cascade & 7 on Chinook; Subsea Trees and Manifolds; Replacement of the FPSO; Oil Export: Shuttle Tanker vs. Pipeline. Option for Phase 3 6

7 Long History of Technological and Operational Leadership in Deepwater Petrobras America General Meeting - 2nd Quarter

8 Cascade and Chinook Reservoir Challenges 8

9 Cascade and Chinook Seismic Acquisition Recording Vessels 9

10 Cascade and Chinook Wave Buoy Installation and Operation Wave Buoy on deck 10

11 Cascade and Chinook Well Drilling and Completion Rigs Ocean Endeavor Diamond Offshore Drilling West Sirius Seadrill Limited Discover Deep Seas Transocean Ltd. 11

12 Petrobras Deepest Well Drilling and Completion 27,500 ft Williams Tower 12

13 min Coverage Proppant lb/ft^2 Coverage Proppant Coverage lb/ft^2 lb/ft^2 Proppant Coverage lb/ft^2 Proppant New Net Pay md New Net Pay md md Pay Net New App Stati c_e' MMpsi App Stati c_e' MMpsi MMpsi c_e' Stati App GR_EDTC_ED gapi GR_EDTC_ED gapi gapi GR_EDTC_ED Petrobras America General Meeting - 2nd Quarter m/sec min GR_EDTC_ED gapi GR_EDTC_ED GR_EDTC_ED gapi gapi App Stati c_e' MMpsi App App Stati Stati c_e' c_e' MMpsi MMpsi Proppant Coverage lb/ft^2 New Net Pay md New New Net Net Pay Pay md md Proppant Coverage lb/ft^ m/s ft TVD TVD ft ft TVD TVD ft min min Fractured Area ft x ft Equivalent Well to 2 FPSOs m/sec m/sec MM DT DT DT Pressure DT M DT M DT Pressure

14 Subsea Challenges Deepest Free Standing Hybrid Riser (8200 ft/ 2500 m) Deepest Pipe-in-pipe (8845 ft/ 2696 m) Deepest Subsea Boosting System (8857 ft/ 2700 m) Deepest Export Pipeline (8200 ft/ 2500 m) First Umbilical Riser Pull-in Using a Subsea Winch 14

15 Subsea Installation Vessels Technip - Deep Blue Subsea 7 Seven Seas Technip - Olympic Challenger Hereema Balder Veolia Viking Poseidon 15

16 Subsea System 16

17 FPSO BW Pioneer Artistic View Vessel & Disconnectable Turret FPSO on Production First FPSO to Operate in the US Gulf Deepest mooring of a Floating Production Facility (8200 ft/ 2500 m) 17

18 FPSO Construction in Singapore Module Lift onto FPSO 18 Aboard the FPSO at Keppel Shipyard, Singapore

19 FPSO Buoy Construction in Indonesia and Transportation thru Panama Canal 19

20 Shuttle Tanker Construction in Philadelphia Petrobras America General Meeting - 2nd Quarter 2009 Shuttle Launching 20

21 Shuttle Tanker Overseas Cascade Shipping in the Gulf of Mexico Part of BP s Macondo Operation 21

22 Gas Export Discovery Pipeline System 22

23 Project Schedule Phase I Petrobras Operator Regulatory Compliance Design Facilities&Wells Open&Close Cascade Open Cascade Open Chinook Execute Facilities Drill&Complete Wells 23

24 Phase 1 Cascade and Chinook Phased Development Petrobras America General Meeting - 2nd Quarter Wells from Cascade & 1 from Chinook; Subsea X-Trees, Manifolds, Pumps, Flowlines and Risers; Gas exported by Pipeline and Oil by Shuttle Tanker. Phase 1 Configuration Potential Phases 2 & 3 Up to 6 wells on Cascade & 7 on Chinook; Subsea Trees and Manifolds; Replacement of the FPSO; Oil Export: Shuttle Tanker vs. Pipeline. Option for Phase 3 24

25 Drilling and Completion of new Wells st Quater ENSCO Mendocino Drill Ship VANTAGE - Titanium Explorer Drill Ship 25

26 Starting the Design of a Platform to Replace the FPSO 26

27 Cascade and Chinook Journey Present and Future Chinook Production is ongoing good well and facilities performance. Pos-Production journey is just beginning. Gas Export Cascade 27

28 In

29 In

30 Thank you. Chinook Gas Export César Palagi Walker Ridge Asset Manager Petrobras America Inc. July 9 th, 2012 Cascade 30