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Petrobras America General Meeting - 2nd Quarter 2009
1
Chinook
Cascade
Gas Export
Cascade and Chinook Journey History and Future
César Palagi
Walker Ridge Asset Manager Petrobras America Inc.
July 9th , 2012
Petrobras America General Meeting - 2nd Quarter 2009
2
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.
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.
CAUTIONARY STATEMENT FOR US INVESTORS
Disclaimer
Petrobras America General Meeting - 2nd Quarter 2009
3
Petrobras E&P Portfolio In
The US Gulf Of Mexico 173 E&P Blocks (9 shelf, 164 deepwater); 127 Operated by Petrobras (June, 2012)
(122 Exploration Blocks , with total area close to 3,000 km2)
Outstanding 2001-2011 Exploration Results: * Exploration Wells: 33 drilled wells; 22 discoveries (67%)
* Wildcat Wells: 19 drilled wells; 11 discoveries (58%)
Miocene Play
Lower Tertiary Play
Discoveries under Development or Appraisal
Production assets
Petrobras’ blocks in the GoM
Petrobras’ next Exploration Drilling
Wildcat Wells
Pliocene Play
Tiber
Gila
Lucius
Hadrian North Hadrian South
Urca
Cascade
Chinook Stones
St.Malo
Logan
Olympic Ipanema
Enterprise
Petrobras America General Meeting - 2nd Quarter 2009
4
Petrobras is the Lower Tertiary
3rd Largest Player in the GoM
100 mi
0 160 km
Cascade
Chinook
St. Malo Jack
0
Baha
Great White
Trident
Kaskida
Stones
Tobago
Great White West
Gotcha Deep
Shenandoah
Tucker
Buckskin
Tiber
2002
2002
2002
2003
2002
2005
2009 2006 2009
2009
2004 2006
2005
2009
2006
Lower Tertiary trend 2002-5
2001
2011
Logan
2011
Petrobras America General Meeting - 2nd Quarter 2009
5
Year Cascade Chinook
2002 1 Discovery Well
2003 1 Discovery Well
2004
2005 2 Appraisal Wells
2006 Petrobras Operator
2007 FID – Final Investiment Decision – Phase 1
2008
2009 2 Wells
2010 1 Well
2011
2012 1 Well ongoing
Cascade and Chinook
Field History (1996 Lease Sale)
Petrobras America General Meeting - 2nd Quarter 2009
6
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.
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
Phase 1 Configuration
Cascade and Chinook Phased
Development
Petrobras America General Meeting - 2nd Quarter 2009
7
Long History of Technological and
Operational Leadership in Deepwater
Petrobras America General Meeting - 2nd Quarter 2009
8
Cascade and Chinook
Reservoir Challenges
Petrobras America General Meeting - 2nd Quarter 2009
9
Cascade and Chinook
Seismic Acquisition
Recording Vessels
Petrobras America General Meeting - 2nd Quarter 2009
10
Wave Buoy on deck
Cascade and Chinook
Wave Buoy Installation and Operation
Petrobras America General Meeting - 2nd Quarter 2009
11
Cascade and Chinook
Well Drilling and Completion Rigs
Ocean Endeavor
Diamond Offshore Drilling
2008 2008
West Sirius
Seadrill Limited
Discover Deep Seas
Transocean Ltd.
2009
Petrobras America General Meeting - 2nd Quarter 2009
12
Petrobras’ Deepest
Well Drilling and Completion
27,500 ft
Williams Tower
Petrobras America General Meeting - 2nd Quarter 2009
13
Fracture Penetration (ft)
200
400
116.24 min
25200
ft
TVD
25400
25600
25800
26000
GR_EDTC_ED gAPI
0
150
75.00
App Static_E' MMpsi
0
10.00
5.00
MDT Pressure
19000
20000
19500
Res Pres psi
19000
20000
19500
GR_Stress_Jack psi
19000
20000
19500
New Net Pay mD
0.10
100
0.000
0.250
0.500
0.750
1.000
1.250
1.500
1.750
2.000
2.250
2.500
Proppant Coverage lb/ft^2
0.884 m/sec
Fracture Penetration (ft)
200
400
157.53 min
25200
ft
TVD
25400
25600
25800
26000
GR_EDTC_ED gAPI
0
150
75.00
App Static_E' MMpsi
0
10.00
5.00
MDT Pressure
19000
20000
19500
Res Pres psi
19000
20000
19500
GR_Stress_Jack psi
19000
20000
19500
New Net Pay mD
0.10
100
0.000
0.250
0.500
0.750
1.000
1.250
1.500
1.750
2.000
2.250
2.500
Proppant Coverage lb/ft^2
0.884 m/sec
Fracture Penetration (ft)
200
400
157.53 min
25200
ft
TVD
25400
25600
25800
26000
GR_EDTC_ED gAPI
0
150
75.00
App Static_E' MMpsi
0
10.00
5.00
MDT Pressure
19000
20000
19500
Res Pres psi
19000
20000
19500
GR_Stress_Jack psi
19000
20000
19500
New Net Pay mD
0.10
100
0.000
0.250
0.500
0.750
1.000
1.250
1.500
1.750
2.000
2.250
2.500
Proppant Coverage lb/ft^2
0.884 m/sec
Fracture Penetration (ft)
200
400
85.16 min
25200
ft
TVD
25400
25600
25800
26000
Stress (psi)
19500
0.000
0.250
0.500
0.750
1.000
1.250
1.500
1.750
2.000
2.250
2.500
Proppant Coverage lb/ft^2
0.884 m/sec
Fracture Penetration (ft)
200
400
116.24 min
25200
ft
TVD
25400
25600
25800
26000
G R_EDTC_ED gAPI
0
150
75. 00
App St at i c_E' M M psi
0
10. 00
5. 00
M DT Pressure
19000
20000
19500
Res Pres psi
19000
20000
19500
G R_St ress_Jack psi
19000
20000
19500
New Net Pay mD
0.10
100
0.000
0.250
0.500
0.750
1.000
1.250
1.500
1.750
2.000
2.250
2.500
Pro
pp
an
t C
overa
ge lb
/ft^
2
0.884 m/sec
Fracture Penetration (ft)
200
400
157.53 min
25200
ft
TVD
25400
25600
25800
26000
G R_EDTC_ED gAPI
0
150
75. 00
App St at i c_E' M M psi
0
10. 00
5. 00
M DT Pressure
19000
20000
19500
Res Pres psi
19000
20000
19500
G R_St ress_Jack psi
19000
20000
19500
New Net Pay mD
0.10
100
0.000
0.250
0.500
0.750
1.000
1.250
1.500
1.750
2.000
2.250
2.500
Pro
pp
an
t C
overa
ge lb
/ft^
2
0.884 m/sec
Fracture Penetration (ft)
200
400
157.53 min
25200
ft
TVD
25400
25600
25800
26000
G R_EDTC_ED gAPI
0
150
75. 00
App St at i c_E' M M psi
0
10. 00
5. 00
M DT Pressure
19000
20000
19500
Res Pres psi
19000
20000
19500
G R_St ress_Jack psi
19000
20000
19500
New Net Pay mD
0.10
100
0.000
0.250
0.500
0.750
1.000
1.250
1.500
1.750
2.000
2.250
2.500
Pro
pp
an
t C
overa
ge lb
/ft^
2
0.884 m/sec
Fracture Penetration (ft)
200
400
85.16 min
25200
ft
TVD
25400
25600
25800
26000
Stress (psi)
19500
0.000
0.250
0.500
0.750
1.000
1.250
1.500
1.750
2.000
2.250
2.500
Pro
pp
an
t C
overa
ge lb
/ft^
2
0.884 m/sec
13
Well
Fractured Area
1000 ft x 400 ft
Equivalent
to 2 FPSOs
Petrobras America General Meeting - 2nd Quarter 2009
14
• 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
Subsea Challenges
Petrobras America General Meeting - 2nd Quarter 2009
15
Subsea Installation Vessels
Hereema Balder
Subsea 7 Seven Seas Technip - Deep Blue
Technip - Olympic
Challenger
Veolia – Viking Poseidon
Petrobras America General Meeting - 2nd Quarter 2009
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Subsea System
Petrobras America General Meeting - 2nd Quarter 2009
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Artistic View
Vessel & Disconnectable Turret
FPSO BW Pioneer
FPSO on Production
• First FPSO to Operate in the US Gulf
• Deepest mooring of a Floating Production Facility (8200 ft/ 2500 m)
Petrobras America General Meeting - 2nd Quarter 2009
18
FPSO Construction in Singapore
Module Lift onto FPSO
Aboard the FPSO at
Keppel Shipyard,
Singapore
Petrobras America General Meeting - 2nd Quarter 2009
19
1
FPSO Buoy Construction in Indonesia
and Transportation thru Panama Canal
Petrobras America General Meeting - 2nd Quarter 2009
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Shuttle Tanker Construction
in Philadelphia
Shuttle Launching
Petrobras America General Meeting - 2nd Quarter 2009
21
Shuttle Tanker Overseas Cascade
Shipping in the Gulf of Mexico Part of BP’s Macondo Operation
Petrobras America General Meeting - 2nd Quarter 2009
22
Gas Export
Discovery Pipeline System
Petrobras America General Meeting - 2nd Quarter 2009
23
Regulatory Compliance
Execute Facilities
Project Schedule – Phase I
Design Facilities&Wells
Open&Close
Cascade
Petrobras
Operator
Drill&Complete Wells
2006 2007 2008 2009 2010 2011 2012
Open
Cascade
Open
Chinook
Petrobras America General Meeting - 2nd Quarter 2009
24
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.
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
Phase 1 Configuration
Cascade and Chinook Phased
Development
Petrobras America General Meeting - 2nd Quarter 2009
25
Drilling and Completion of new Wells
VANTAGE - Titanium Explorer
Drill Ship
1st Quater 2011 2012
ENSCO – Mendocino
Drill Ship
2011
Petrobras America General Meeting - 2nd Quarter 2009
26
Starting the Design of a Platform
to Replace the FPSO
Petrobras America General Meeting - 2nd Quarter 2009
27
Chinook
Cascade
Gas Export
• Production is ongoing –
good well and facilities
performance.
• Pos-Production journey
is just beginning.
Cascade and Chinook Journey
Present and Future
Petrobras America General Meeting - 2nd Quarter 2009
28
In 1996…
Petrobras America General Meeting - 2nd Quarter 2009
29
In 2012…
Petrobras America General Meeting - 2nd Quarter 2009
30
Chinook
Cascade
Gas Export
Thank you.
César Palagi
Walker Ridge Asset Manager Petrobras America Inc.
July 9th , 2012