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versão CMYK negativa versão traço negativa ComoComo agregar agregar valor valor a a partirpartir da da g gestãoestão a ambientalmbiental eespespeCCializada?ializada?

ImagineImagine uma uma empresa empresa dedicada dedicada a responder a responder perguntas perguntas como como esta. esta. Especializada Especializada em em cuidar cuidar do domeio meio ambiente ambiente e que e que já fazia já fazia isso isso há háquase quase um um século, século, quando quando ainda ainda nem nem se falavase falava sobre sobre o o assunto.assunto. Com Com experiência experiência comprovada, comprovada, o Grupo o Grupo AMBIPAR AMBIPAR desenvolve desenvolve e implementa e implementa soluções soluções parapara toda toda a cadeia a cadeia do do negócio negócio dos dos resíduos, resíduos, que que vão vão desde desde sua sua geração geração até até sua sua adequada adequada logística,logística, valorização, valorização, tratamento tratamento e destinação e destinação final. final. Seu Seu portfólio portfólio integra, integra, ainda, ainda, serviços serviços especializadosespecializados ambientais, ambientais, incluindo incluindo limpeza limpeza técnica, técnica, manutenção manutenção e conservação e conservação de de sites sites industriais,industriais, gestão gestão de águasde águas e efluentes e efluentes e atendimento e atendimento emergencial. emergencial.

EsteEste é o é Grupo o Grupo Ambipar, Ambipar, com com mais mais de de 3.000 3.000 funcionários funcionários no no Brasil Brasil e no e no exterior, exterior, que que ofereceoferece serviços serviços inteligentes inteligentes e expertise e expertise para para ajudar ajudar empresas empresas a superar a superar os os desafios desafios da sustentabilidade.da sustentabilidade.

ParaPara nós, nós, sustentabilidade sustentabilidade não não é apenas é apenas um um discurso: discurso: é o énosso o nosso negócio. negócio.

SaibaSaiba mais mais em em www.grupoambipar.com.br www.grupoambipar.com.br

AF-ANC_AMBIPAR_INSTITUCIONAL_AF-ANC_AMBIPAR_INSTITUCIONAL_ 41.6x26.6.indd 41.6x26.6.indd 1 1 4/16/124/16/12 5:55 PM 5:55 PM ComoComo agregar agregar valor valor a a partirpartir da da g gestãoestão a ambientalmbiental eespespeCCializada?ializada?

ImagineImagine uma uma empresa empresa dedicada dedicada a responder a responder perguntas perguntas como como esta. esta. Especializada Especializada em em cuidar cuidar do domeio meio ambiente ambiente e que e que já fazia já fazia isso isso há háquase quase um um século, século, quando quando ainda ainda nem nem se falavase falava sobre sobre o o assunto.assunto. Com Com experiência experiência comprovada, comprovada, o Grupo o Grupo AMBIPAR AMBIPAR desenvolve desenvolve e implementa e implementa soluções soluções parapara toda toda a cadeia a cadeia do do negócio negócio dos dos resíduos, resíduos, que que vão vão desde desde sua sua geração geração até até sua sua adequada adequada logística,logística, valorização, valorização, tratamento tratamento e destinação e destinação final. final. Seu Seu portfólio portfólio integra, integra, ainda, ainda, serviços serviços especializadosespecializados ambientais, ambientais, incluindo incluindo limpeza limpeza técnica, técnica, manutenção manutenção e conservação e conservação de de sites sites industriais,industriais, gestão gestão de águasde águas e efluentes e efluentes e atendimento e atendimento emergencial. emergencial.

EsteEste é o é Grupo o Grupo Ambipar, Ambipar, com com mais mais de de 3.000 3.000 funcionários funcionários no no Brasil Brasil e no e no exterior, exterior, que que ofereceoferece serviços serviços inteligentes inteligentes e expertise e expertise para para ajudar ajudar empresas empresas a superar a superar os os desafios desafios da sustentabilidade.da sustentabilidade.

ParaPara nós, nós, sustentabilidade sustentabilidade não não é apenas é apenas um um discurso: discurso: é o énosso o nosso negócio. negócio.

SaibaSaiba mais mais em em www.grupoambipar.com.br www.grupoambipar.com.br

AF-ANC_AMBIPAR_INSTITUCIONAL_AF-ANC_AMBIPAR_INSTITUCIONAL_ 41.6x26.6.indd 41.6x26.6.indd 1 1 4/16/124/16/12 5:55 PM 5:55 PM

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Sustentabilidade é possível, e com pequenas atitudes você pode tornar sua empresa mais competitiva. Comece agora. Talvez você não saiba, mas levar soluções sustentáveis para sua empresa pode ser mais simples do que você pensa. Com o apoio do Sebrae você adota pequenos gestos e muda alguns hábitos que podem fazer diferença nos resultados da sua empresa. Quer um exemplo? O simples gesto de desligar aparelhos da tomada quando não estão sendo usados pode reduzir e muito a conta de energia elétrica. Então pense bem, seja sustentável e procure o Sebrae. É bom para o planeta. É bom para o seu negócio.

Quem tem conhecimento vai pra frente | 0800 570 0800 | sebrae.com.br CONTENTS & CREDITS

Contents ACCELERATEOIL&GAS THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM

Organised by Faircount Media Group

) 04 Foreword a

s

e r p 06 The pre-salt

m e a 12 Exploration & production challenges u s European Headquarters a 5 Ella Mews, Hampstead, London NW3 2NH, UK n 16 Regulation & fi nance e Tel: +44 (0)20 7428 7000 u q li 20 Investment p North American Headquarters a e 701 North West Shore Blvd, a 24 Safety & environmental issues c i Tampa, Florida 33609, USA d Tel: +1 (813) 639 1900 a 28 Agenda t s e e Asia-Pacifi c Headquarters t 30 Infrastructure r o Level 15, Tower 2, 101 Grafton Street, c e Sydney, NSW 2022, Australia r 34 Sponsor profi les & other exhibitors ( Tel: +61 (0)2 8063 4800 42 Speakers Brazil Headquarters 52 Floor plan/exhibitor list Faircount Media do Brasil Administração de Eventos Ltda. rua General Jardim, 482, 3º. andar, conjunto 32, São Paulo – SP CEP: 01223-010, Brasil Tel: +55 75 81498314

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Sustentabilidade é possível, e com Magazine Design Sandip Patel pequenas atitudes você pode tornar sua Charts & Illustrations As credited empresa mais competitiva. Comece agora. Printed in Brazil Talvez você não saiba, mas levar soluções sustentáveis para sua empresa pode ser mais simples do que você pensa. Com o apoio do Sebrae você adota pequenos gestos e muda alguns hábitos que podem fazer diferença nos resultados da sua empresa. ©Copyright 2012 Faircount Media Group. All rights reserved. Reproduction of editorial content in whole Quer um exemplo? O simples gesto de desligar aparelhos da tomada quando não or in part without written permission is prohibited. estão sendo usados pode reduzir e muito a conta de energia elétrica. Faircount Media Group does not assume responsibility for the advertisements, nor any representation made Então pense bem, seja sustentável e procure o Sebrae. therein, nor the quality or deliverability of the products É bom para o planeta. É bom para o seu negócio. themselves. Reproduction of articles and photographs, in whole or in part, contained herein is prohibited without express written consent of the publisher, with the exception of reprinting for news media use.

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 3 Quem tem conhecimento vai pra frente | 0800 570 0800 | sebrae.com.br ACCELERATEOIL&GAS

SAC CAIXA: 0800 726 0101 (informações, reclamações, sugestões e elogios) caixa.gov.br Para pessoas com de ciência auditiva ou de fala: 0800 726 2492 Ouvidoria: 0800 725 7474 Foreword Global energy demand has been widely forecast to double by 2050 as the world’s population rises from 7 billion to 9 billion and emerging economies grow at unprecedented rates

he need for reliable additional sources of energy - considered deep or ultra-deep - and nearly two thirds and particularly oil and gas in the short to (62 per cent) of these deep offshore fi nds were Brazilian. Tmedium-term - is clear and acute. • Some 92.6 per cent of Brazil’s proven reserves are Yet 2012 so far has been one of the most uncertain offshore - 88 per cent of them in the three pre-salt periods for energy markets in decades with increasing basins. geopolitical fears around Iran, continued unrest in other • Half of global oil supplies will be produced offshore parts of the Middle East and the ongoing eurozone by 2015. economic crisis. The price of Brent crude surged to • Deep-water’s share of offshore production will US$128 a barrel in early March after recording its increase from 22 to 29 per cent by 2016. highest annual average of nearly US$111 in 2011. • Deep-water oil’s share of total supply will increase According to the Paris-based International Energy from six to nine per cent between 2011 and 2016. Agency (IEA), oil demand will increase from around 88 million barrels per day (b/d) in 2011 to 95.3 million Forecasts also suggest that the coming years will see b/d in 2016 (on the basis of annual global economic a “golden age of gas”. Natural gas consumption will growth of 4.5 per cent). China alone will account for grow 2.4 per cent per year from 2011 to 2016, 40 per cent of the increase. reaching 3,800 billion cubic metres (bcm), and may Yet the IEA warns that a growing number of OPEC overtake coal as the second most used fuel by 2035. nations “appear incapable of increasing production Petrobras’s plans to produce 6.4 million boe/d by capacity in the medium-term” for a variety of reasons 2020 include 1.3 million b/d of natural gas - a three- from political and security constraints through to fold increase on the 2011 fi gure. management issues. The country’s oil regulator, the National Petroleum This is where Brazil comes in and why its discovery of Agency (ANP), estimates that the pre-salt will prove to vast pre-salt offshore oil reserves was so timely. hold reserves of around 50 billion barrels. But according The IEA forecasts that global production capacity will to a 2011 study by Hernani Chaves, a professor at the rise from 93.8 million b/d to 100.6 million b/d by Rio de Janeiro State University who worked as a 2016 with Brazil accounting for one million extra geologist at Petrobras for 35 years, the true fi gure is at barrels daily, second only to Canada’s additional 1.3 least 123 billion barrels. million b/d. This conference aims to facilitate new and improved Figures to back up the pre-salt’s strategic importance relationships between companies interested in helping fl ow as thick and fast as the oil itself: to develop Brazil’s oil and gas interests. If Prof Chaves’s forecast, which the study put at 90 per cent probability,

• Of 34 billion barrels of oil discovered worldwide in is proved right then partnerships struck now could *Operação sujeita a análise cadastral e aprovação de crédito. the fi ve years to 2010, 51 per cent were in waters prosper for decades to come.

4 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM SAC CAIXA: 0800 726 0101 (informações, reclamações, sugestões e elogios) caixa.gov.br Para pessoas com de ciência auditiva ou de fala: 0800 726 2492 Ouvidoria: 0800 725 7474

*Operação sujeita a análise cadastral e aprovação de crédito. ACCELERATEOIL&GAS

The pre-salt ‘The pre-salt’ refers to a chain of sedimentary rocks deposited more than 100 million years ago in an area between the separating South American and African continents

That would leave Brazil just outside the world’s top ten nations for proven reserves. But even such a great leap forward may just be the first of many. ANP has long quoted a potential figure of 50 billion barrels that could be recovered from the pre- salt. Prof Hernani Chaves, who previously believed ANP was over-optimistic, found in a study that the true potential was more like 123 billion barrels. Edison Lobão, Minister of Mines and Energy, has claimed 150 billion barrels or more is a possibility. Around 100 billion barrels would be enough to supply the United States, the world’s biggest oil consumer, for more than 14 years. From the heavyweight list of international oil Map showing the geographical layout of the pre-salt, along with diagram of the descent through ocean, rock, salt to the oil. companies (IOCs) partnering with Petrobras to the desire of the United States and China to set large lake formed, where rocks were themselves up as key customers, evidence of the deposited over passing centuries. The rivers economic and geopolitical importance of Brazil’s A of the separating continents ran into this lake black gold abounds. causing large quantities of organic matter to be Petrobras’s drilling success rate in pre-salt fields of deposited on its bed. As the gap between the more than 85 per cent (compared to an industry continents grew, sea water fl owed in covering the benchmark of 30 per cent) adds to the allure. organic matter which gave rise to the hydrocarbons Little wonder that the former president Luiz Inácio the area is renowned for today and a thick layer of Lula da Silva was once moved to remark, in his own salt began to form above it. inimitable fashion, that the pre-salt “is like a pretty Data from exploration wells and extensive seismic woman on a dance floor full of men. Everybody mapping indicate that the pre-salt reservoir rocks wants a go.” extend over an area approximately 800km long and 200km wide, covering 149,000km2. THE STORY SO FAR Taking offi ce as the new president of ANP in March Brazil’s quest for offshore oil began in the 1970s 2012, Magda Chambriard said the country’s proven against the background of OPEC nations dictating oil reserves may soon jump from around 15 billion high oil prices on international markets. In 1974 barrels to 30 billion. Petrobras discovered the 100,000 km2 Campos

6 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM THE PRE-SALT

Basin - Brazil’s biggest oil province. It was drilled for the first time in 1976 and commercial production began in 1977. By the mid to late 1980s, Petrobras was faced with the task of producing oil from depths of 400- 500 metres or more, something no company had achieved at that point. It set about creating an ambitious technological innovation programme that would make its name © OECD/IEA, 2011 synonymous with cutting-edge deep-water drilling. The company drilled its first well in water more THE PRESENT AND THE POTENTIAL than 1,000 metres deep in 1992 and later The pre-salt’s Campos, Santos and Espírito Santo demonstrated a pioneering early production riser at basins now represent the biggest offshore oil frontier the Roncador field, discovered in 1996 at depths of in the world. Oil production in Brazil is forecast to up to 2,000 metres. rise from 2.1m b/d in 2010 to 3.1m b/d in 2016, The first traces of oil in the area now known as the with 70 per cent of this increase due to the pre-salt. pre-salt were discovered in July 2005 in Block At present 30.6 per cent of the pre-salt area is BM-S-10 in the Santos Basin’s Parati well. A year under concession, leaving vast areas still to be later a light oil deposit was discovered in Block BM- opened up. S-11 in the Tupi field, 250km off the coast of Rio de In December 2011 just over 200,000 b/d of oil and Janeiro. natural gas were recovered from pre-salt fi elds, around As further discoveries continued to be made, an 7.5 per cent of Brazil’s total output. By 2017 Petrobras analysis of the second well in Tupi in late 2007 expects to hit daily production of more than one million suggested it held recoverable reserves of between b/d from the Santos Basin alone. By 2020 total pre- five and eight billion barrels of oil equivalent (boe) salt production is forecast to be 1.99 million b/d. - which would make it the largest ever deep-water Overall, in 2020 the company expects to produce 4.9 discovery. million b/d of crude oil and 6.4 million boe. Advanced seismic exploration techniques helped With additional output from Eike Batista’s OGX to reveal vast oil stores locked away in reservoirs and IOCs likely to lift total production above 7million that had been shrouded by the thick layer of salt for boe/d, Brazil may challenge the US as the third millions of years. biggest producer after Russia and Saudi Arabia. In September 2008 production of the first pre-salt OGX began 2012 by kick-starting its plan to oil began from a reservoir 4,500 metres below sea become Brazil’s largest private producer of crude oil. level in the Jubarte field in the Campos Basin. On January 31 it produced its fi rst barrel of oil from Commercial production began in Tupi in October its Waimea fi eld in the Campos Basin after a record 2010. In May of the following year, Petrobras sold offshore turnaround of just over two years from fi rst its first oil export from the pre-salt with one million discovery to production commencing. barrels from Tupi, by then renamed Lula, going to The landmark came days after OGX - which Chile’s state-controlled oil and gas company ENAP forecasts production of 730,000 boe/d in 2015 at an undisclosed price. It is certain to be the first rising to 1.4million by 2019 - was granted an oil of many. export licence.

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 7 ACCELERATEOIL&GAS

It has confi rmed a pre-salt prospect, dubbed Seven of the ten largest oilfi elds discovered Fortaleza, in shallow waters in the Santos Basin and anywhere in the past decade were found by expanded its exploration plans to spudding 26 wells Petrobras, according to the analyst Wood MacKenzie. this year. In September 2010 the company raised more than Brazil’s 11th oil and gas bidding round, which will US$70bn in the world’s largest share sale. It is now feature 174 blocks including 87 offshore but none in the world’s fi fth largest oil producer by market value. the pre-salt, has been delayed and may not take Production in Brazil slightly exceeds its domestic place until late 2012 or early 2013. demand of just over 2million b/d and as it rises in It will include blocks spread over a 122,000 km2 the coming years, Petrobras will become a major oil area and located in nine basins: Barreirinhas, Ceará, exporter. Espírito Santo, Foz do Amazonas, Pará-Maranhão, To achieve this Petrobras is working on what has Parnaíba, Potiguar, Recôncavo and Sergipe-Alagoas. been called the most ambitious offshore exploration Seventy-seven of the blocks may contain gas. and production (E&P) programme ever attempted. Many leading IOCs are interested in the round, Up to $1trillion could be required for a decade of SENAI. INOVAÇÃO which is expected to attract US$781m investment for developing the pre-salt with US$224.7bn earmarked fi rst phase exploration. But the delays raise questions over the course of Petrobras’s 2011-2015 business TECNOLÓGICA PARA about when the much-anticipated 12th round, which plan. will include pre-salt auctions, will occur. Maria das Gracas Foster, who took over as chief Whenever it happens, competition between IOCs to executive offi cer of Petrobras in February, said SUA EMPRESA SER MAIS partner with Petrobras is sure to be fi erce. Lula may increasing production would be her priority. prove to be the second largest oilfi eld discovered Her comments refl ected the fact that the company’s COMPETITIVA E EFICIENTE NO worldwide in the past two decades after Kashagan in net profi t fell by half in the fourth quarter of 2011 to Kazakhstan. The possibility of the next such discovery US$2.94bn due to lower than expected production is a constant driver for those operating in the pre-salt. rates. SETOR DE PETRÓLEO E GÁS. Production for 2011 was 2.62 million boe/d, up PETROBRAS: PERFORMANCE & PLANS 1.4 per cent on the previous year, with 2.38 million Para sua empresa vencer os desafios do setor de petróleo CTS AUTOMAÇÃO E SIMULAÇÃO In both exploration2011-2015 INVESTMENTS and fi nance, some of the key boe/d produced in Brazil, an annual rise of 1.7 e gás, conte com a tecnologia e a experiência de 70 :: Simuladores: ambiente de plataforma fi gures relatingStable investments,to Petrobras greaterare mind-boggling. focus on E&P per cent. anos do SENAI. Integrante do Sistema FIRJAN, uma para treinamento offshore organização privada, com 10 mil empresas associadas, BRAZIL LEADERSHIP IN RECENT DISCOVERIES2010-14 Business Plan 2011-15 Business Plan Brazil’s leadership in recent discoveries 2011-15 Business Plan o SENAI conta com um portfólio exclusivo para o setor, :: Realidade virtual e aumentada Deep-water discoveriesDeep-water in Brazil discoveries represent in Brazil 1/3 US$224represent of the worldwide1/3 billion of the worldwide discoveries discoveries in the last US$224.75 years billion in the last 5 years US$224.7 billion 1% 2% 1% oferecendo soluções concretas e inovadoras, além das New Discoveries 2005-20102% 2,9 1% 2% 1% :: Ambiente imersivo 3D 2% 2,4 mais avançadas tecnologias para sua empresa se destacar (33,989 million bbl)8% 2.9 Deep-Water 6% 2,32.4 E&P 4,24,2 3.5 Discoveries 4.1 RTM e ser mais competitiva no setor. :: Cursos de formação e qualificação profissional 14,714,73,23,2 17.8 2.4 13.2 3.1 4,14,1 Gas, Energy & Gas Chemicals 5.1 3.8 Petrochemicals Distribution 118.8 BrasilBrazil (*) 38% 53% 65,5 62% 65,5 127.5 73.6 Outros 70.6 Biofuels Other 31% 57% 33% Corporate Visite o estande do SENAI aqui na Accelerate Oil & Gas e saiba como nossa tecnologia pode ajudar sua empresa. Sofitel Copacabana: Avenida Atlântica, 4240, Copacabana, Rio de Janeiro – RJ.

RTM E&PE&P RTC © Petrobras © Petrobras Other Discoveries Gás,EnergiaGas,Deep-Waters Energy & &Gas Gás Chemicals Química PetroquímicaPetrochemicals (*) US$22.8 billion in Exploration DistribuiçãoDistribution BiocombustíveisBiofuels • 5% of investments will be made overseas, 87% • In the last 5 years, more than 50% of the new discoveries (worldwide) were made in deep waters CorporativoCorporate of which in E&P • The development of these reserves will demand additional capacity from the supply chain www.firjan.org.br • Expansion of the oil and gas chain in Brazil is in line with this perspective • HSEE (US$ 4.2 bi), IT (US$ 2.7 bi), Technology (US$ 4.6 8 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUMbi), Logistics (US$ 17.4 bi), Maintenance & Infrastructure (US$ 20.6 bi) Petrobras expects to double its proved reserves until 2020, keeping the discovery cost around US$2/boe 6 J-244-12 Accelerate Oil & Gas Anúncio 21,3x27,6.indd 1 26/04/12 11:17

Source: PFC Energy 3 SENAI. INOVAÇÃO TECNOLÓGICA PARA SUA EMPRESA SER MAIS COMPETITIVA E EFICIENTE NO SETOR DE PETRÓLEO E GÁS.

Para sua empresa vencer os desafios do setor de petróleo CTS AUTOMAÇÃO E SIMULAÇÃO e gás, conte com a tecnologia e a experiência de 70 :: Simuladores: ambiente de plataforma anos do SENAI. Integrante do Sistema FIRJAN, uma para treinamento offshore organização privada, com 10 mil empresas associadas, o SENAI conta com um portfólio exclusivo para o setor, :: Realidade virtual e aumentada oferecendo soluções concretas e inovadoras, além das :: Ambiente imersivo 3D mais avançadas tecnologias para sua empresa se destacar e ser mais competitiva no setor. :: Cursos de formação e qualificação profissional

Visite o estande do SENAI aqui na Accelerate Oil & Gas e saiba como nossa tecnologia pode ajudar sua empresa. Sofitel Copacabana: Avenida Atlântica, 4240, Copacabana, Rio de Janeiro – RJ.

www.firjan.org.br

J-244-12 Accelerate Oil & Gas Anúncio 21,3x27,6.indd 1 26/04/12 11:17 ACCELERATEOIL&GAS

PRODUCTION Petrobras can more than double production in the next decade 6,418 142 Business Plan 2011-15 246

1.120 3,993

125 180 + 35 Systems 2,772 2,516 2,575 618 2,386 +10 Post-Salt Projects 93 96 4,910 99 96 141 +8 Pre-Salt Projects 132 144 435 111 334 321 317 +1 Transfer of Rights 3,070 845 Added Capacity Transfer of Rights 1.971 2.004 2.100 13 1.855 Oil: 2,300,000 bpd ’000 ’000 boe/day 1,148 543 Pre-Salt © Petrobras

2008 2009 2010 2011 2015 2020 Oil Production- Brazil Natural Gas Production - Brazil Oil Production - International Natural Gas Production - International

Business Plan 2010-14 3,907 128 176 • Pre-salt and Transfer of Rights will represent 69% of Petrobras’ production for January 2012623 rose to To prepare Petrobras has increased its distribution 2,575 the additional capacity up to 2020 2.73 million93 boe/d.+ 9 Post-Salt Projects pipelines and is installing new compressor stations 144 But in February334 it +cut 5 Pre-Salt its 2012 Projects target for additional while expanding supply to new power plants with • Pre-Salt participation in the total production will oil output by 30 per cent from 480,000 2.980to 336,000 US$8.2bn of investment from 2010 to 2013. Added Capacity enhance from the current 2% to 18% in 2015 and 2.004 extra b/d. Oil: 1,800,000 bpd 40.5% in 2020 Most of the new output will come from the P-57

fl oating 2010production storage offl oading (FPSO)2014 in the Jubarte fi eld, which is expected to produceNote: Does 150,000 not include Non-Consolidated International Production. b/d this year. 18 The reduced forecast was blamed on delays in completion of the 180,000 b/d P-55 platform for use in the Roncador fi eld. Natural gas production in Brazilian fi elds hit 60,482 million cu m in January 2012, an increase of 7.7 per cent compared to a year earlier. This followed a new Petrobras record in delivery of natural gas to the market in 2011, reaching an average fl ow of 37 million cubic metres per day, boosted by production from Lula which began in September. Gas is set to see its share of the global energy mix increase in the coming years. Petrobras’s plans for 2020 include 1.3million b/d of natural gas - a three- fold increase on the 2011 fi gure.

10 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM

A n 7 _ g e o s o l _ i n g l e s _ u m a _ p a g 0 1 q u i n t a - f e i r a , 1 9 d e a b r i l d e 2 0 1 2 1 4 : 2 5 : 0 6 A n 7 _ g e o s o l _ i n g l e s _ u m a _ p a g 0 1 q u i n t a - f e i r a , 1 9 d e a b r i l d e 2 0 1 2 1 4 : 2 5 : 0 6 ACCELERATEOIL&GAS

Exploration and production challenges A quarter of global deep-water oil operations are in Brazil. Petrobras is using all its experience and clout to deploy the latest technology to search for new fi elds, re-explore mature ones and make previously inaccessible reserves feasible

hile the potential rewards of pre-salt E&P based on the specifi cation of the well coating, the programmes are clear, so too are the quality of the drilling fl uid and the geometric design of Wchallenges involved in making them safe, the pit which have made it possible to maintain greater successful and effi cient. From improving surveying stability when drilling through salt. techniques to developing enhanced methods for The fi rst pre-salt well required 15 months to drill at a maximising recovery, Petrobras and other leading IOCs cost of US$240m. But some wells can now be drilled in are concentrating huge resources in Brazil to confront 60 days at a cost of US$60m. the crucial issues. A host of technical issues related to Given that Lula alone could require up to 200 wells the salt layer and high pressure mean drilling the pre- and cost as much as US$600bn to develop over its salt requires the highest level of professional expertise. lifetime, the importance of such advances cannot be overstated. SPACE RACE MARK II Indeed, they have already seen the estimated Petrobras’s US$224.7bn investment programme for investment needed for developing the Santos Basin fall 2011-2015 represents the world’s largest capital by 45 per cent in four years. expenditure plan. The plan forecasts 57 per cent of the Drilling companies still face unpredictability in how investment going towards E&P compared to 53 per oil reservoirs will behave when disturbed and concerns cent in the 2010-2014 plan. about rapid corrosion of equipment. But an army of The programme has led to comparisons with NASA’s scientists and engineers are looking for answers. Apollo program to land a man on the moon in the 1960s at the height of the Space Race. RESEARCH & DEVELOPMENT In fact Petrobras’s annual capital spending of Brazil’s overall expenditure on research and US$45bn exceeds the fi gure in current day dollars for development (R&D) is considered low by international NASA’s budget during that period. standards but the pre-salt could help to change that. Much of the pre-salt lies 340km offshore with the Petrobras is spending US$4.5bn on R&D in the 2011- hydrocarbons located 2km below the sea and then 2015 period. down below 1km of rock and another 2km of salt. In In 2010 Cenpes, the Petrobras research centre in Rio places its distance below sea level exceeds 7,000 de Janeiro, underwent a huge expansion from 100,000 metres. km2 to 300,000 km2 and now has 130 laboratories. Drilling through rock can be diffi cult but comes with Technical staff number 1,600 but there are another ten the promise that once drilled it should remain stable. for each of them working in oil and gas R&D at other But with shifting salt wellbore instability can be a serious institutions and universities. hazard. Petrobras has fi nanced research and development Petrobras’s research teams have made advances facilities in more than 70 Brazilian universities, all

12 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM R&D Resources (2011 –EXPLORATION 2020) AND PRODUCTION CHALLENGES

Investment cumulative forecast ~ US$ 8,9 billion Investment cumulative forecast - US$ 8,9 billion have been constructed at Cenpes with major international partners including Schlumberger, Halliburton and Baker Hughes. Also in Rio, the Institute for Graduate Studies in Engineering (COPPE) at the Federal University of Rio de Janeiro (UFRJ) is home to the deepest pool worldwide used for simulating offshore drilling conditions. At 15 metres deep and with a well that adds another 10 metres, the pool holds 23 million litres of water. It can simulate the marine environment in water depths exceeding 2,000 metres and can generate waves up to © ANP half a metre high - which used on scaled models can R&D investments 2011-2020. create even the most violent of storms. connected via a thematic network requiring more than A pump and pipe system simulates currents. 10,000 metres of optical fi bre. Similar pools in China, Norway and the Netherlands The system integrates 3D visualisations used for R&D are only around 10 metres deep. in areas including foundation engineering, well design, COPPE is also home to a specialised laboratory risers, mooring design and reservoir engineering. undertaking research on welding and corrosion, which Different institutions can view shared simulation results is a high risk in the pre-salt due to the high level of in real time and nodes on the network include Cornell carbon dioxide and hydrogen sulfi de in the natural University, Massachusetts Institute of Technology and gas. the University of Salford in the UK, as well as the many Previous Petrobras innovations include torpedo piles Brazilian research bases. capable of restraining up to 2,000 metric tons of The Roncador fi eld’s P-55 semi-submersible platform fl oating weight, offering billions of dollars of savings in is among products now operating which were mooring costs, and rigid risers for depths of 2,200 conceptualised on the system. metres and beyond. Its current R&D facilities promise Fourteen new facilities dedicated to pre-salt research further valuable innovations in the near future. © OECD/IEA, 2011 Non-Opec supply:change 2010-2016 (shows Canada and Brazil leading world increase).

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 13 ACCELERATEOIL&GAS

EXPERT EXPLORATION waves can be sent out with receivers on the seabed Geologists usually study oil formations through seismic recording their movement through rocks below. Oil and data collection, which works much like sonar. Sound gas can be detected because they resist the waves. waves or shock waves are directed downwards and experts use geophone listening devices to measure the PERFECTING PRODUCTION speed and direction of the waves as they bounce back Petrobras plans to begin to develop its pre-salt assets up off rock. through extended well tests (EWTs) before advancing to The data is processed to form an intersecting grid of pilot projects and then large-scale production through seismic lines called 3D seismic volume. Scientists build fl oating production, storage and offl oading (FPSO) up a picture of whether rock may hold oil and gas units. reserves, like water trapped in a sponge. The search for more effi cient and safer ways to push However, because the pre-salt’s salt layer is shifting oil from a deep-lying reservoirs to the surface is a and absorbs energy, varying small amounts of the constant quest. Injection methods to increase recovery waves bounce back with signals distorted like static on yields continue to evolve. a telephone line. Carbon dioxide produced in the pre-salt may in future Petrobras and its partners are now offering innovative be reinjected into the reservoirs to increase the recovery solutions. factor, a tactic used by Petrobras at the onshore Usually a single boat is operated for seismic data Miranga fi eld in Bahia. collection. But companies have begun splitting devices Companies including BP have also found that lowering used to send and receive signals onto two boats. the salinity of water used for injection purposes Creating a wide angle between the source of the waves increases the oil yield. and the receiving equipment achieves a better result In Parque das Conchas in the Campos Basin, Shell because the waves pass below the salt layer and refl ect used 1,500 horsepower electric submersible pumps - back off previously inaccessible rock. each with the thrust of a Formula One car’s engine - to The costs of a second boat and the requisite computing pipe oil to the surface through 1,780m of water. power have begun to fall making this approach - known Remotely-controlled submarines were steered by sea as wide azimuth seismic - more widely viable. level crews to install the pumps and wellhead machinery. Wide azimuth seismic led Shell to discover four major The Parque das Conchas reserves are not pre-salt but fi elds in the Gulf of Mexico and the company considers Shell already boasts high recovery rates in pre-salt it ideal for Brazil’s pre-salt. production in other areas including the Gulf of Mexico Shell and a partner are also testing self-propelled The pressure at pre-salt reservoirs is around 400 to boats equipped with satellite navigation which could 600 bars - double that of a typical oilfi eld. Since cracks allow the deployment of more receivers to further propagate faster at high pressure, even slight corrosion improve surveys. can soon have devastating consequences so there is a Alternatively, in some blocks Petrobras has developed constant challenge to fi nd improved materials. use of the ‘True 3D’ acquisition technique. This involves Marcelo Renno Gomes, of the Brazilian Petroleum, one vessel but rather than moving in one direction, it Gas and Biofuels Institute’s (IBP) Pipeline Commission, remains in a central position to detail changes in has highlighted continued innovations in corrosion reservoir properties in different directions and give a control as well as improved pipeline assembly fuller representation of the 3D subsurface. technology to reduce capital expenditure as key In deep waters very low frequency electromagnetic challenges.

14 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM EXPLORATION AND PRODUCTION CHALLENGES © OECD/IEA, 2011

Opec crude production capacity 2010-2016 (shows it generally fl atlining).

Shell’s innovations have also included innovative But since November 2011 Marlim has seen the risers that move with the Atlantic Ocean swell thanks to world’s fi rst use of oil and water separation technologies a bend that fl exes when the sea level rises and drops, in deep water and the fi rst system to reinject separated helping to prevent fractures and metal fatigue. water back into a subsea reservoir to boost production. Pioneering work has also been carried out by FMC Separated gas is also added back to the oil stream to Techologies at the Campos Basin’s Marlim fi eld in water help raise it to the surface. depths of around 900 metres . After two decades in The work has led Carlos Tadeu Fraga, executive operation, the fi eld was producing increasing amounts manager of Cenpes, to talk of a future in which platforms of water, compromising the oil handling capacity of will not be needed as remotely-controlled machinery surface facilities, and sand, which risks damaging the and automated equipment carry out traditional platform overall system. functions on the seabed. Petrobras is also ready to become one of the fi rst energy giants to proceed with a fl oating liquefi ed natural gas (FLNG) project to produce up to 14 million cu m per day of associated gas. Shell’s Prelude project, offshore in northwest Australia, is the fi rst FLNG development to be sanctioned as an alternative to piping gas underwater

© Shell to onshore liquefaction plants and is due to begin Diagram illustrating wide azimuth seismic surveying technique. operating in 2017.

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 15 ACCELERATEOIL&GAS

Regulation & fi nance ANP is responsible for regulating and supervising the activities of the petroleum, natural gas and biofuels industries in Brazil. It issues directives, rules and resolutions and promotes bidding rounds, exploration and production contracts with decisions taken through a board of directors

he agency also authorises companies to construct, provide the fi nancial and technical resources needed to operate and expand refi neries, natural gas explore the contracted area, with all risks related to the Tprocessing plants, pipelines and storage facilities. In exploratory phase borne by the company. When December 2010 a new regulatory framework for granting commercial reserves are found and produced, the fi rst oil E&P rights in the pre-salt and other strategic areas was (cost oil) is put towards the recovery of costs with the introduced - that of production sharing agreements (PSAs). remainder (profi t oil) shared by the Government and the These contracts will allow Petrobras to dominate production oil company along pre-determined lines. PSAs allow while working closely with many partners. In terms of countries to attract suitable fi nancial investment and fi nance, the country’s state development bank BNDES technical expertise, while oil companies gain access to remains the key source for many major industry projects. new reserves. They can provide handsome profi ts for all For many small and medium-sized supply chain companies parties. For a decade until 2008, Brazil used a traditional the launch of Progedir, a program developed by Petrobras, concession model for both onshore and offshore oil and has provided an attractive new fi nancing option. gas under which companies paid taxes and royalties (plus a special participation tax of 10 to 40 per cent of revenue PRODUCTION SHARING AGREEMENTS on large fi elds or a fee to landowners for onshore fi elds) PSAs have been utilised in more than 40 countries, but kept the oil they produced to sell themselves. After pre- typically those in the oil and gas development stage salt discoveries, offshore concessions were stopped looking for additional fi nancial resources and technology. following Brazil’s 9th oil and gas licensing round in 2007 These contracts see the State retain an oil company to and 2008’s 10th round consisted only of onshore blocks. Eventually four new legislative bills were proposed. ProductionProduction allocation Allocation diagram Diagram The fi rst bill, signed into law in June 2010, granted Petrobras a non-transferable right to research, explore Gross Production and produce up to fi ve billion boe in areas adjacent to Profit Oil Cost Recovery Oil those in the pre-salt containing proven reserves which had already been tendered. Petrobras plans to drill ten NOC’s Share of Contractor’s Share Profit Oil Profit Oil exploratory wells in this ‘Transfer of Rights’ area and carried out the fi rst two, with success, in February and

Contractor’s March 2012. The second bill, which became law in Taxes August 2010, created Pre-Sal Petroleo S.A. (PPSA), a new Contractor company to represent the Brazilian government in Net Profit © Baker & McKenzie consortiums dealing with the pre-salt and manage PSAs.

24

16 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM REGULATION & FINANCE

The third and fourth bills were combined and signed into The Evolution of BNDES’ Disbursements law in December 2010, implementing the production 1999 - 2011 sharing model for future pre-salt blocks and other areas (R$ billion) designated ‘strategic’ by the president. The concession model continues for blocks already under concession and new areas that are neither pre-salt nor strategic. Under the new legislation, there are two ways for Brazil’s government to grant oil and gas rights. The fi rst involves a grant of a PSA through an auction bidding process. The

second is through a direct award to Petrobras. The rules © BNDES require Petrobras to be the sole operator of all blocks in pre-salt and strategic areas not yet tendered and to hold a generally only deals directly with projects where the minimum 30 per cent interest in them. Petrobras can opt fi nancing value exceeds R$10m (US$5.46m) but to compete in the bidding to acquire a greater interest. accredited institutions can deal with smaller projects. Consortiums for pre-salt and strategic grants must be When considering whether to disburse funds, BNDES administered by a management committee with PPSA makes a pre-assessment of a company’s capacity to carry designating half the members, including the chairman out a project considering factors such as managerial who has veto and tie-breaking powers. Petrobras will also competence, compliance with environmental standards be a required member of all consortia. The criteria for bid and credit risk standing. A project analysis report by its evaluation were expanded to include profi t oil, in addition operational division is submitted to the board for to the three former elements of signature bonuses paid to assessment. If everything is satisfactory, BNDES will begin government, local content and exploration work. Each putting together a contract with disbursement coming in bidder must offer the government a percentage of profi t stages, each being dependent on completion of the oil, defi ned as the hydrocarbons produced less costs and previous stage. Follow-up assessment of a company’s royalties. Finally, the legislation guarantees parties to fi nancial status will continue after the project is fi nished. In PSAs a share of the oil and gas produced equal to the cost addition to loans, it can provide fi nancing benefi ts via of their investments in the project - not including the environmental, technological and scientifi c investments or signature bonus or royalties and subject to maximum limits subscription to securities such as shares. BNDES can also - prior to the government’s take of the profi t oil. Around 70 fi nance purchase of equipment produced abroad if no per cent of the pre-salt is not yet under concession and will similar products are manufactured in Brazil, as is the case be subject to PSAs. with certain oil and gas supply items. Much of its assistance for the oil and gas sector comes from its Merchant Marine BNDES Fund (FMM), which dates back to 1958, and the Support BNDES can fund private Brazilian companies and Program for the Development of the Supply Chain for Oil entrepreneurs and foreign companies with headquarters & Gas sector-related Goods and Services (BNDES P&G), and administration established in Brazil. In making its approved in March 2011. The FMM was given a new funding decisions it must consider innovation, local framework in 2010 with interest rates of 2 to 4.5 per cent development and socio-environmental development. Its per annum for construction of domestic offshore vessels disbursements for 2011 amounted to R$139.7bn with the compared to 3 to 6 per cent for imported vessels with highest number of operations in its history - 896,000 more than 60 per cent local content and 4 to 7 per cent representing a 47 per cent increase on 2010. The bank for imports with less than 60 per cent local content. Major

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 17 ACCELERATEOIL&GAS A RRC pesquisa sempre

recent loans for the oil and gas industry include US$745.9m fi nancing lines with these six banks which are invited to mais fundo para você. to Comphania Brasileira de Offshore (part of Fischer Group) compete against each other. Sub-suppliers further down the in June 2010 and an agreement with Eike Batista’s oilfi eld chain can also benefi t so long as the chief supplier to which services company OSX for long-term funding worth more they are linked is registered with Progedir. than US$1.5bn towards construction of the Açu Port Complex The buying company, Petrobras or one of its subsidiaries, shipyard in Rio state. In March UK-based BG Group received pre-registers potential suppliers on a secure electronic site initial approval for a US$1.8bn BNDES loan to fund the called Portal Progedir, where more than 3,000 companies fi rm’s share of local procurement and construction costs for were listed at the end of 2011. The supplier for a given eight FPSOs. BNDES has also provided funding for contract must insert its details and request validation from the Transpetro’s shipbuilding programmes. BNDES P&G has a buyer. After approval, the supplier searches for fi nance and budget of R$4bn (US$2.19bn) until the end of 2015 and the banks make proposals for pre-agreed periods based on aims to remove problems with accessing credit, high capital their credit and risk analyses. The supplier chooses which costs and access to state-of-the-art technology. The credit lines bank’s offer to accept and signs the relevant documentation. will be particularly aimed at small and medium-sized In order to obtain the fi nance, all suppliers must register at companies which represent 85 per cent of oil and gas supply least three Brazilian sub-suppliers per contract but they chain fi rms in Brazil. The program will largely focus on cannot register foreign sub-suppliers. It is also necessary to projects expanding or modernising production capacity, pay a R$700 (US$383) utilisation tax for the service. supply chain consolidation, fi nancing working capital This year is also expected to see Japanese, Korean and needed to supply equipment or services and supporting Chinese banks featuring prominently in fi nancing for offshore R&D. It will offer a range of interest rates from 4.5 per cent E&P assets in Brazil. Activity is expected to be strong, according per year on loans linked to innovation to 11.04 per cent for to US-based international law fi rm Milbank, Tweed, Hadley & fi nancing working capital in direct operations. The bank can McCloy, but some European banks will play a less active part provide further supply chain support by funding ‘anchor than in the past due to the eurozone crisis. companies’ - fi rms with annual gross operating income of The fi rm forecasts additional fi nancing opportunities for more than R$90m (US$49.2m) that forward at least 30 per shipyards, ports and transportation in Brazil in the next cent of fi nancing resources to suppliers and sub-suppliers. few years. Milbank’s Latin American fi nancing practice was behind OTHER SOURCES a recent US$692m debt facility for Brazil’s Schahin Group In June 2011 Petrobras launched Progedir with the aim of to buy a Black Diamond deepwater drillship for lease to helping small and medium-sized businesses in its supply Petrobras. chain obtain cheaper fi nance. The program enables such The fi rm advised the lead arrangers, the Export-Import Excelência em serviços companies to take out loans using their contract to supply Bank of Korea (Kexim), Mizuho Corporate Bank, WestLB AG goods or services to Petrobras or its subsidiaries as a and Standard Chartered Bank, along with fi ve other lenders. de desenvolvimento guarantee. By the end of 2011 Progedir had been Project bonds fi nanced through government-owned involved in more than 220 fi nancial operations worth banks, or export credit agencies, could be a growth area tecnológico de engenharia more than R$1bn (US$547m), with more than 100 more this year, particularly for drilling rigs and other capital- deals under analysis. intensive projects. e operações submarinas The scheme sees Petrobras work with the main commercial OSX sold US$500m of bonds on international markets banks operating in Brazil - Banco do Brasil, Caixa, in March for construction of an FPSO in Singapore. The em águas profundas. Santander, HSBC, Itaú and Bradesco. Once a supplier has bonds, maturing in 2015, will pay interest of 9.25 per a contract with Petrobras, it can negotiate highly competitive cent a year quarterly.

18 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM A RRC pesquisa sempre mais fundo para você.

Excelência em serviços de desenvolvimento tecnológico de engenharia e operações submarinas em águas profundas. ACCELERATEOIL&GAS

Investment The development of Brazil’s oil and gas industry stands to benefi t more than 250,000 companies in the country directly or indirectly, according to Petrobras

t is estimated that more than one million jobs could be and a settlement with BP over the Gulf of Mexico spill, created. Opportunities abound for small and medium- where it held a 25 per cent share in the Macondo well. Isized businesses, as well as for the multinational giants BP’s interests in Brazil encompass E&P of oil and gas, already fi rmly established in Brazil. ethanol production and aviation fuel. It is producing in According to the National Organisation of the Petroleum the Campos Basin’s Polvo fi eld, and holds concessions in Industry (ONIP), total investments in the sector from 2009 14 onshore and offshore blocks, operating six. Chevron to 2020 will hit more than US$320bn. This includes has interests in three deep-water Campos Basin fi elds, US$85bn for subsea production and services, US$60bn and operates Frade, 370km north-east of Rio de Janeiro, for drilling rig units and US$51bn for production units. which is Brazil’s largest foreign-operated fi eld. Chevron’s There are concerns in some quarters that demands for daily Brazilian production in 2011 averaged 71,000 strict adherence to local content rules (LCRs) could slow the barrels of crude and 28 million cubic feet of natural gas. pace of progress in the pre-salt. But an increasing number The end of 2010 saw Repsol and Sinopec create Repsol of foreign companies are fi nding that setting up in Brazil Sinopec Brasil with Repsol holding a 60 per cent stake can turn such requirements into a win-win situation. The and Sinopec 40 per cent. The new company’s portfolio fi rm enjoys access to one of the world’s most exciting oil includes a producing fi eld (Albacora Leste), fi elds under and gas markets with obvious opportunities for expansion development and 12 exploration blocks. The deal made while Brazil meets its goals of boosting employment and Repsol Sinopec Brasil the largest foreign owner of enhancing local workers’ skills. exploration rights in the Santos, Campos and Espírito LEADING PLAYERS Santo basins. Sinopec also last year acquired a 30 per Brazil opened its oil and gas industry to foreign cent stake in the Brazilian assets of Portugal’s Galp companies in 1997, since when many of the biggest Energia, including a ten per cent stake in Lula and Santos IOCs have invested here. Companies with a stake in Basin interests, for US$5.2bn. Shell operates 15 onshore Brazilian fi elds currently in production and also in further and offshore blocks in Brazil and is the country’s second exploratory blocks include Anadarko, BP, Chevron, El biggest oil producer after Petrobras. It is increasing its Paso, ONGC, Repsol Sinopec Brasil, Shell, Sinochem investment in the Campos Basin after higher than and Statoil. Taking into account those with a stake in anticipated production. Sinochem, the Chinese state- exploratory blocks only at this stage adds names such as controlled oil company, last year signed an agreement BG Group, ExxonMobil and Maersk. Galp Energia and with Petrobras to cooperate on E&P. It also paid Statoil Total have stakes in exploratory blocks and in fi elds US$3.07bn for 40 per cent of the Peregrino fi eld and in already in development though not yet producing. January reached a deal with Perenco to buy a 10 per Anadarko holds licences to explore around one million cent stake in fi ve deep-water blocks. In addition to acres in offshore Brail and a 300 million barrel fi nd in operating Peregrino, Statoil holds acreage in the mature the Campos Basin but speculation persists that it may sell Campos Basin and other deep-water areas including some of its Brazilian assets to fund African exploration two basins off the state of Bahia. BG Group has interests

20 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM INVESTMENT

of between 25 and 40 per cent in fi ve Santos Basin blocks in Brazil. Meanwhile, HRT, the Brazilian oil and blocks including Lula and Carioca. The company gas start-up, said in February that its onshore discoveries estimates its pre-salt reserves could reach eight billion in the Amazon’s Solimões Basin could make it Brazil’s boe and expects its Brazilian output to reach 600,000 leading natural gas producer. It estimates reserves of boe/d by 2020. Exxon Mobil is the operator of block four to six billion barrels of light oil and 10 to 20 trillion BM-S-22 in the Santos Basin with a 40 per cent stake, cubic feet of gas in the area and has been awarded a Maersk has been active in Brazil since 2007 when it two-year extension to continue drilling at 21 exploratory took on operation of two offshore blocks which it owns blocks. HRT sold a 45 percent stake in its Amazon 50-50 with OGX and Total holds interests in three exploration areas to TNK-BP, the joint-venture between exploration blocks in the Santos Basin. It is no longer just BP and Russian businessmen, for US$1bn last October. IOCs with global interests that are signifi cant private TNK-BP has an option to become the operator 30 months players. Eike Batista’s OGX started 2012 by producing after initial approval. Leading players may benefi t from its fi rst oil from the Waimea fi eld in the Campos Basin Repetro, a special customs regime allowing suspension of and following up with its Fortaleza pre-salt fi nd. federal and state taxes on importation of specifi c Production at Waimea began just over two years after equipments for use in oil and gas research and exploration. the fi rst discovery of oil there in December 2009, a record quick transformation, and the company expectsnstitutional LOCAL CONTENT REQUIREMENTSFramework for production of 20,000 b/d during its EWT. In all OGX Local content requirements (LCRs) are intended to has interests in 30 onshore and offshore exploration increasethe Localincome and employment Content in Brazil Policy and accelerate

Institutional framework for local content policy

• Policy Government • Incentives (e.g. Brazilian Programme for Increasing Nationalisation - PNP)* * Financing line for foreign industries coming to Brazil and reaching 60% of local content in products weight or value in three to five years. • Regulating ANP • Monitoring • Auditing • Accreditation

ONIP > suppliers list NOC  IOC and suppliers identification

Fulfill LC requirements and development of

© ANP suppliers

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 21 ACCELERATEOIL&GAS

technological development. Companies participating in The rules have incentivised many oil and gas equipment the exploration and development of Brazil’s oil and gas and services fi rms to open offi ces and factories in Brazil. reserves are expected to give preference to domestic ONIP maintains a register of Brazilian suppliers called suppliers wherever their price, period for delivery and Cadfor. This list provides sponsoring companies (Anadarko, quality is equal to that of foreign alternatives. BG, BP, Chevron, El Paso, Maersk, Repsol, Sinopec, Shell When E&P rights for 27 blocks were sold off in Brazil’s and Statoil) with exclusive information on goods and fi rst licensing round in 1999 bidders could freely offer services made available by the registered suppliers. any percentage of domestic content. Suppliers are able to keep track of the shifting priorities That changed with 2003’s fi fth round, which introduced highlighted by sponsors. requirements on a sliding scale - from 88 per cent for Petrobras also runs an online database listing its onshore drilling evaluation to 30 per cent for the more registered goods and services suppliers. It lists trader complex deep-water equivalent, for example. manufacturers, non-trader manufacturers, distributors and The seventh round saw a new system introduced resellers and the latter two can only trade products of involving minimum and maximum local content levels manufacturers already registered. In addition, there are and it remains in place. service providers. Foreign companies wanting to provide Bidders are invited to allocate weights and local services in Brazil must be formally authorised by the content percentages to 60 items on a spreadsheet, government or have a Brazilian subsidiary registered on allowing for comprehensive comparisons of rival bids. the database. In order to participate in biddings in Brazil, The rules extend to services rendered as well as materials, foreign suppliers must appoint a distributor or reseller to equipment and systems. act for them. Companies hoping to be listed as suppliers ANP will begin a local content audit after a statement of must satisfy technical, economic, legal, HSE and a fi eld’s commercial viability is made and conduct another managerial criterion. The Oil and Gas National Industry at the end of a fi eld’s development phase. Operators are Mobilisation Programme (PROMINP) was created in required to submit documentary evidence of investments 2003 to drive the strengthening of Brazilian industry’s role such as signed agreements and tax records. Failure to hit in the oil and gas sector. National industry’s contribution the specifi ed LCR is likely to mean a hefty fi ne from ANP. to the sector rose from 57 per cent in 2003 to around 77 per cent in 2010. As both LCRs and pre-salt production 2012-2020 O&G Operators Investments targets become more testing, there are questions as to whether both will prove achievable. The growing number of foreign suppliers arriving in Brazil will be crucial to keeping the two on course.

NEW ARRIVALS For some overseas companies, the best response to LCRs has been to embrace them by setting up in Brazil. One such fi rm is Wellstream, a leading designer and manufacturer of fl exible pipeline products, systems and fl uid transportation solutions, with headquarters in © Apex Brasil Newcastle, England. The company started construction of a state-of-the-art manufacturing facility in 2003 in Niterói Brazil E&P investments 2010-2020 from ONIP. with production beginning there in 2007. Wellstream has

22 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM INVESTMENT

since won contracts worth hundreds of millions of dollars diesel motors, fl ow instruments and positioning systems from Petrobras and OGX. In March 2011 it was taken have a predominance of foreign suppliers. However, over by the US conglomerate GE in a US$1.3bn deal to competition from certain Brazilian fi rms in other areas is help GE capitalise on the growing FPSO segment. likely to be fi erce. The oil and gas arm of Odebrecht is Macaé in Rio de Janeiro state, known as ‘Cidade do investing US$5bn in equipment including drilling ships Petróleo’ due to the number of Petrobras facilities located and pipeline-laying support vessels (PLSVs) with the aim there, continues to attract investment. Recent examples of creating the largest provider of services to Petrobras, include Texas-based Rignet, a leading provider of remote as well as working with international fi rms. communications solutions, opening a sales and service offi ce in March 2012 and a £20m-plus investment by APEX BRASIL & ABIMAQ Swire Oilfi eld Services, of Aberdeen, Scotland, in 2011 Companies needing entry strategies to establish a to produce cargo-carrying units and modular systems. foothold in Brazil can turn to Apex Brasil, the country’s Indeed, Aberdeen - which has long claimed the title ‘Oil trade and investment promotion agency. It can provide capital of Europe’ - and Brazil are building closer links. In detailed advice on the responsibilities and liabilities March delegates from 15 Brazilian oil and gas-related associated with different types of busineses under companies visited Aberdeen with a return trip made by Brazilian law, such as corporations, limited liability Aberdeen businesses to Brazil shortly afterwards. companies and partnerships or consortia. Rolls-Royce, one of the most famous names in Apex is also a source of invaluable advice on Brazil’s engineering, has also invested in Brazil. In February 2011 complicated tax system including income tax, state the company announced plans for a US$100m purpose- taxes, municipal charges relating to property and built gas turbine assembly and testing facility in Rio state, services and social contributions. expected to be operational early in 2013. Nine months It can further act as a go-between for investors in later Petrobras awarded Rolls-Royce new contracts worth making contact with potential partners, suppliers and up to US$651m to supply 32 gas turbine engines with regulatory and local authorities. waste-heat recovery units for eight FPSOs. The packages Detailed intelligence on factors infl uencing investment will be delivered in groups of four starting in 2013. decisions is available - on the economy, education, A shipbuilding boom in Brazil has also seen companies market size and characteristics, competitors, suppliers, from locations as diverse as the US, Norway and Chile legal and regulatory frameworks, the talent pool, salary establish Brazilian subsidiaries. Guido Perla & Associates, estimates and so forth. a Seattle-based fi rm of naval architects, announced it was The Brazilian Association of the Machine and opening a Brazilian offi ce in 2011, saying bidders using Equipment Industry (ABIMAQ) has among its missions its designs had already won Petrobras tenders. promoting sustainable development in the sector by Morgan Stanley’s offshore oil services report has improving competitiveness and increasing business in pointed to particular opportunities in Brazil for technology- national and international markets. intensive service and equipment companies. The ABIMAQ represents around 4,500 businesses consultancy Booz & Company says Brazilian oil and gas throughout Brazil and is interested in companies suppliers charge 10-40 per cent more than world prices. involved in all products and services used in the oil, In a 2010 analysis, it also identifi ed niche areas where natural gas, biofuels and petrochemical sectors. the Brazilian market is lacking: turbo generators, ABIMAQ has calculated that in the decade to 2020, oil centrifugal compressors and gas motors were classifi ed and gas extraction will fi nance the purchase of as only having foreign suppliers, while control valves, US$211bn of equipment.

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 23 ACCELERATEOIL&GAS

Safety & environmental issues Following the Gulf of Mexico disaster, the offshore oil industry faces the twin tasks of continuing to raise production while ensuring that environmental and safety standards will not allow a repeat

he accident occurred 65km from the coast and in Marsh, the leading insurance group, reported deep waters. Many leading industry fi gures increased premiums for the offshore energy industry Twarned that offshore E&P costs will rise as a result. following the disaster and a trend for companies to Fears persist that this could restrict the rate at which review their insurance policies and top up their cover. production expands in Brazil, where distance from the But it also said the event would not be a “market coast and water depths for drilling are pushing the changer” for deep-water drilling insurance. frontiers of know-how. But Petrobras’s nine environmental defence centres in BRAZILIAN REGULATION & ENFORCEMENT Brazil - which host pollution control equipment such as ANP is responsible for setting rules and directing booms, oil collectors and specialised watercraft - studies and actions to identify potential safety problems provide a tangible fi rst line of defence against any and solutions for production sites, refi neries and spills. Recent incidents also suggest that the country’s processing plants. authorities will act tough to send a clear signal that It does not make mandatory the use of any particular safety and environmental issues must be paramount for types of equipment for procedures such as drilling in all operators. order to allow for rapid adoption of new technologies. Nor does it stipulate procedures for use of equipment or POST-DEEPWATER HORIZON well pressure levels, which are left to operating The Gulf of Mexico accident in April 2010 killed 11 companies. workers and caused nearly fi ve million barrels of oil to According to ANP, its approach is similar to that leak into the sea. The International Energy Agency has recommended by US authorities after an extensive post- predicted that regional production in the area will be Deepwater Horizon review. 300,000 b/d lower than previously expected up to The Brazilian agency has a budget of R$14.19m 2015 due to restrictions imposed following the accident. (US$8.18m) per year for safety inspections and A moratorium on drilling in the Gulf of Mexico was employs a corps of engineers who carry out hundreds lifted in October 2010 but Petrobras’s plans to begin of audits on offshore platforms. An agreement with the producing in the area were set back. Brazilian Navy allows staff in a control room to see The company fi nally began production from the real-time movements of maritime traffi c including Cascade fi eld, 250km off the coast of Louisiana, in platforms and tankers. February 2012, using the fi rst FPSO system deployed ANP stopped activities on 12 platforms in 2011, issued in US waters. Petrobras’s production in the area will fi nes of more than R$50m (US$27.4m) and has recently provide a useful opportunity to showcase its deep-water increased its inspection staff with 152 new recruits. expertise beyond Brazil in the more cautious, post- It also carried out a major overhaul of safety standards Deepwater Horizon drilling environment. long before Deepwater Horizon. In 2007, six years after

24 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM SAFETY & ENVIRONMENTAL ISSUES

an accident involving the Petrobras P-36 semi-submersible “chasm” had opened up between rapidly advancing which killed 11 crew members, it issued a resolution exploration technology and clean-up technology. Fire laying down 17 management practices on everything boom design and construction and the basics of from mechanical integrity to emergency planning. The skimming and mechanical recovery systems had not regulations established an objective approach to safety signifi cantly altered for many years. and required operators to document safety and However, poor planning had also proved a major environmental procedures and analyses of major risks. problem with eight days elapsing before the fi rst fi re Brazilian authorities have since demonstrated a no- boom arrived. Subsequent results suggested fi re boom nonsense approach to safety and environmental should have a major primary response role. More than considerations. 400 burns using 23,000ft of boom eliminated between In September 2011 Ibama, the national environment 220,000 and 310,000 barrels - around 17 per cent of agency, denied a permit to El Paso to explore for oil oil at the sea surface. The cost of $20 to $40 per barrel and gas in the Pinauna fi eld off Bahia, citing a failure eliminated was cheaper than alternatives. to minimise “environmental impacts and risks” in an The system sees tow boats drag a 500-ft U-shaped area with endangered species and a lack of adequate boom - an infl atable tube of fl ame-retardant material - solutions for oil spill scenarios. through a slick, gathering up 75,000 gallons at a time. Less than two months later, a spill occurred at the The oil is then dragged away from the main spill and Chevron-operated Frade fi eld. It involved around 3,000 ignited. barrels, less than 0.1 per cent of that seen in the Gulf of According to the Oil Spill Commission, the fi rst use of Mexico disaster, with no oil reaching shore. subsea chemical dispersants in the Gulf of Mexico was Chevron had its drilling licence suspended by ANP, also a “qualifi ed success”. Burning, skimming and was hit with a US$28m fi ne (with the threat of more to dispersion combined accounted for 1.2 million barrels follow) and federal prosecutors began suing the of oil, nearly a quarter of the total released. company and its rig operator Transocean for US$11bn. Carbon capture sequestration (CCS) is set to prove an In March prosecutors fi led criminal charges against important solution with potential for routine industry use. 17 Chevron and Transocean employees. But a day According to the British research company Visiongain later a senior ANP offi cial said that although Chevron global expenditure on CCS technologies in 2012 will and Transocean committed operational violations, the total US$13.7bn. mistakes did not qualify as negligence. Unusually high levels of dangerous and corrosive While Brazil appears determined to show it will not gases, such as carbon dioxide and hydrogen sulfi de, tolerate the risk of an offshore disaster, the possibility are found in pre-salt hydrocarbons. that an overly tough response will scare off investment CCS and the use of captured CO2 in Enhanced Oil may also be considered in future. Recovery (EOR) and Enhanced Gas Recovery (EGR) Magda Chambriard, the new head of ANP, has offer considerable promise for increased production spoken of developing a new system of “intelligent and reduced greenhouse gas emissions. Signifi cant supervision” for E&P, refi ning and distribution involving additional quantities of oil can be extracted via EOR partnerships with other public bodies. using CO2 injected into a reservoir alone or alternately with water. Overall recovery may be increased from a ENVIRONMENTAL SOLUTIONS conventional 35 to 50 per cent up to 60 or theoretically The Oil Spill Commission set up by the US government even 80 per cent. With EGR using CO2 works because following Deepwater Horizon said a technology it is heavier than natural gas so when it is injected into

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 25 ACCELERATEOIL&GAS

the base of a depleted gas reservoir it will pool there, global gasoline and gas oil demand with biodiesel forcing any remaining natural gas to “fl oat” above it. accounting for another 1.5 per cent. The US and Petrobras and Halliburton are working together on CCS Brazil will continue to dominate the market, accounting systems and have calculated they could prevent the for 73 per cent of world biofuel supply in 2016. release of 4.5 million tons of the gas in 2013 alone. The Petrobras’s investments in biofuels from 2010 to Brazilian Carbon Geological Sequestration Map 2014 will total $3.5bn. Its subsidiary Petrobras (CARBMAP) continues to identify locations in oilfi elds, Biofuels has stakes in ten ethanol plants with annual saline aquifers and coal seams for long-term CO2 crushing capacity of more than 24 million tons of storage. Meanwhile, pressure is mounting for a concerted sugar cane and annual output capacity exceeding effort to reduce gas fl aring, which has long been used to 900 million litres. eliminate gas which cannot otherwise be used or Flex-fuel vehicles accounted for 85 per cent of sales in transported. Petrobras’s 2015 Gas Use Optimization Brazil from 2007 to 2011 and Petrobras is not alone in Program, launched in 2010, encourages development investing in ethanol. of platforms that facilitate increased on-site use of gas Bob Dudley, BP’s chief executive, said last year that and tackle operating issues that cause gas fl aring. Use of the company was channelling 40 per cent of its natural gas produced at Petrobras platforms hit a record renewable fuel spending towards Brazilian ethanol. BP 89.2 per cent in 2011 or 92 per cent if combined with owns and operates three ethanol mills in Brazil with a output from fi elds producing only gas. total annual crush capacity of 7.5 million tons. Brazil’s sugar cane ethanol is far more effi cient to ETHANOL produce than American corn ethanol. But although the Much of the interest in the industry’s environmental US recently lifted tariffs on sugar cane ethanol, Brazilian policies since Deepwater Horizon has understandably production has slumped and it could become a net focused on accident prevention and clean-up planning. importer this year. But as Brazilians are well aware, biofuels also provide Magda Chambriard has identifi ed the need to an opportunity to demonstrate environmental commitment. guarantee high ethanol production as one of the Global biofuels supply will grow from 1.8m b/d in industry’s “biggest challenges” after supply fell 2010 to 2.3m b/d in 2016, according to the IEA. By almost 20 per cent in 2011 due to bad weather and then ethanol should have displaced 5.3 per cent of lack of investment. © OECD/IEA, 2011

26 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM

Platinum Sponsor

ACCELERATEOIL&GAS

Agenda DAY 1 – TUESDAY – 15TH MAY 2012 08:30 - 10:15 Plenary Session - Keynote addresses A series of high level, expert-led presentations, delivering cutting-edge analysis and insight; exploring current and future Pre-Salt related investment opportunities: • Júlio Bueno, Secretary of State for Economic Development Energy, Industry & Services, Government of State of Rio de Janeiro • Eugênia Regina de Melo – Superintendent of Oil & Gas, Caixa Economica Federal • Marcio Mello – Chief Executive Offi cer, HRT Participações em Petróleo (HRT) • Armando Guedes Coelho – Chairman of Energy, FIRJAN • Allan Kardec – Director, National Petroleum Agency (ANP) • Carlos Camerini – Superintendent, National Organization of Petroleum Industry (ONIP) • Renato Bertani – President, World Petroleum Council 10:15 -10:45 Coffee Break 10:45 - 12:00 Pre-Salt challenges - Current solutions & future requirements Showcasing current technologies, important advances in Pre-Salt research and technological challenges that lie ahead: • Raul Sanson – Vice President, System FIRJAN • João Fernando Gomes de Oliveira – President, Institute of Research & Technology (IPT) • OGX (TBC) • Vale (TBC) 10:45 - 18:00 Pre-arranged Private Meetings Running in parallel with the sessions that follow 12:00 - 12:30 Product and Services showcase Service providers and manufacturers present off-shore production, logistics and engineering products designed to help overcome obstacles in Pre-Salt production. • Oceaneering • National Oilwell Varco • Altus • Electroproject Aandrijftechniek 12:30 - 14:00 VIP Luncheon 14:00 - 15:45 Financing for Oil & Gas investments In depth examination of the fi nancing mechanisms and methods available to fund the massive investment required for Pre-Salt projects: Moderated by Jeb Blount, Reuters: • Rodrigo Bacelar – Superintendent of Goods, Brazilian Development Bank • Alberto Jorge Kiraly – Vice President, Brazilian Association of Financial and Capital Markets, and Director of Banco Votorantim • Roberto Alfradique – Manager of Investments, Petrobras • Renato Proença Lopes – Gerente de Operações Estruturadas, Banco do Brasil • Eugênia Regina de Melo – Regional Superintendent of Oil & Gas, Caixa Econômica Federal • FINEP 15:45 - 16:15 Coffee Break 16:15 - 17:30 Technology Transfer Technical session assessing the “technology transfer” potential of products and services from other industries, exploring their use within the Oil & Gas sector; specifi cally how they can be applied to overcome some of the most challenging technological problems associated with Pre-Salt production, distribution and etc. • Marcio Marques – GE Oil & Gas Research Center • Welter Benicio – Director of Energy, Siemens • Jose Ramos – Director, Brasbunker • Aker Solutions (TBC) 17:30 Close

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28 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM Silver Sponsor

ACCELERATEOIL&GAS AGENDA

DAY 2 – WEDNESDAY – 16TH MAY 2012

08:30 - 10:15 Meeting the environmental challenge Ministry of Environmental and ANP offi cials review the most recent changes to the regulatory system, whilst senior industry representatives underline the importance of robust risk management systems, highlighting the latest measures pertaining to safety and prevention, control/mitigation, etc. Moderated by Jean-Paul Prates – Director of CERNE: • Ministry of Environment (TBC) • Gloria Marins – Manager of Environment, OGX Oil & Gas (TBC) • Tommy Bjornsen – Director of Operation, Det Norske Veritas (DNV) • Jake Van der Drier, Vice President of HSE in Brazil, Statoil • Grupo Ambipar • FINEP 10:15 - 10:45 Coffee Break 10:45 - 12:00 Supporting infrastructure Focusing on the Brazilian Oil & Gas sector’s rapidly expanding infrastructural needs and associated investment opportunities in: Ports, Logistics & Transport, Construction, etc: • Eliane Borges – National Coordinator, SEBRAE • Ariovaldo Rocha – President, SINAVAL • Alberto Machado – Director of Oil & Gas, ABIMAQ • Sergio Machado – President, Transpetro 10:45 - 18:00 Pre-arranged Private Meetings Running in parallel with the sessions that follow 12:00 - 12:30 Product & Services showcase Service providers and manufacturers present off-shore production, logistics and engineering products designed to help overcome obstacles in Pre-Salt production. 12:30 - 14:00 Working Lunch 14:00 - 15:45 Exploiting the Pre-Salt layer / Evolution of the State system - Impact for Operators, Service Providers, etc. Comparative analysis of the recently adopted PSA (Production Sharing Agreement) system vs the formerly favoured concession system, exploring the consequences for operators and service providers. Further comparing Brazil’s regulatory framework to its overseas counterparts; the legal impacts for service & goods providers and OC’s. Policies, Regulations,CRCC, Legal Practice: Moderated by Luiz Alexandre Bisaggio – President of Brazilian International: • Daniel Moczydlower – Chief Executive Offi cer, Siemens/Chemtech • Marcos Panassol – Coordinator of Oil & Gas, PwC • Jose Renato Ferreira de Almeida – Executive Coordinator, Prominp/Petrobras • Márcio Felix Carvalho Bezerra – Secretary of Development, State of Espirito Santo • Alvaro Teixeira – Executive Secretary, Instituo Brasileiro do Petróleo, Brazilian Institute of Petroleum (IBP) • Catia Mac Cord – Superintendant, Brazil Steel Institute 15:45 - 16:15 Coffee Break 16:15 - 17:30 Future opportunities & risks for foreign investors in the Brazilian Oil & Gas sector • João Luis Rossi – Deputy General Coordinator for Oil, Gas & Naval Affairs, Ministry of Development, Industry and Foreign Trade, Brazil • Theodore M. Helms – Executive Manager, Investor Relations, Petrobras • Reeve Wolford – Chairman of Infrastructure Working Group, Brazil – U.S Business Council • Mr Charles Tang – President, China Brazil Chamber of Commerce • Edison Lobao – Minister of Mining and Energy (TBC) 17:30 Close

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SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 29 ACCELERATEOIL&GAS

Infrastructure If Brazil is to meet its oil and gas production targets for the decade, it will need a huge increase in drilling platforms, tankers, support ships and production units

lobal FPSO demand is likely to double by By 2020 support vessels should total 568 - almost the end of the decade due to high crude double the current fi gure. It also needs 94 FPSOs Gprices and depletion of onshore and shallow and 65 drilling rigs by the same year. water reserves. Many FPSOs at work in Brazil are From 2012 to 2022 Petrobras is expected to buy tanker conversions performed in Asian yards with the more than 250 large oil tankers at an average price topsides completed in Brazil. of US$125m each and with around 65 per cent local But the coming years will see a shift in construction content. to Brazil. Speaking in June 2011 at the launch of the Morgan Stanley has predicted that around 135 P-56 semi-submersible platform - made entirely in semisubmersibles and drillships would be needed in Brazil with 75 per cent local content - President Dilma Brazil by 2018 - up from 70 operating in late 2011. Rousseff said she wanted a Brazilian maritime In fact their report suggested that in an extreme equipment industry to match that it has for automotive case up to 180 rigs would be needed (including 145 parts. for Petrobras) if drilling times proved much longer Sete Brasil, a holding company founded in 2010 than anticipated, fi elds depleted quicker and oil by Petrobras, local pension funds and the banks prices remain above $120 a barrel. Bradesco, BTG Pactual and Santander, will play a The opposite extreme, with quick drilling and vital role. lengthy fi eld production, could mean only 90 rigs are Meanwhile, Petrobras plans to increase its refi ning needed by 2020. But Morgan Stanley’s most likely capacity by 75 per cent in a decade with several scenario remains that around 40 extra fl oating rigs sizeable new refi neries. will need to be contracted, in addition to those already ordered. BRAZILʼS SHOPPING LIST In March 2012, Petrobras completed deals worth Delays in receiving drilling rigs in 2011 have been more than US$76bn with Sete Brasil and Ocean Rig blamed for Petrobras’s slower than expected for the charter and operation of 26 deep-water drilling production increase. There is considerable risk of rigs to be built with 55 to 65 per cent local content. ongoing tightness in the semisubmersible, drillship It will receive 21 rigs from Sete Brasil at an average and for hire segments of FPSO markets globally. initial daily rate of US$530,000 per day and fi ve As Brazil seeks to shift from pre-salt exploration to from Norwegian-listed Ocean Rig at an average of production, the race is on to ensure contracts for key US$548,000 per day, all on 15-year contracts. infrastructure requirements are in place. Sete Brasil has already won the Petrobras tender Petrobras needs to increase its 2010 level of 287 for seven units in 2011. The holding company plans support vessels by another 146 by 2018, including to invest $27bn over the next eight years to build 30 65 platform supply vessels (PSVs) and 18 oil spill offshore drilling platforms, all to be constructed in response vehicles. Brazil with an average local content of 62 per cent.

30 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM INFRASTRUCTURE

The 28 to be leased to Petrobras should generate Transpetro, Petrobras’s logistics subsidiary, is Latin US$75bn in revenue, while the other two will be America’s largest ship owner. It is also responsible leased on the spot market, taking advantage of for 20 onshore and 28 offshore terminals and higher day rates during heavy demand. 14,000km of oil and gas pipelines which ensure Sete Brasil has awarded contracts for nine of the supply to even remote areas of Brazil. 30 rigs - seven to Estaleiro Atlântico Sul (EAS) in a Transpetro is renewing its fleet to meet the US$4.6bn deal, one to Keppel Corporation and one challenges posed by Brazil’s growing stature as an to Sembcorp Marine. oil producer with 49 new oil tankers to be built under The two Singapore-based corporations both have the Fleet Modernisation and Expansion Program working shipyards in Brazil and have been urged by (Promef), which forms part of the government’s Petrobras to expand their Brazilian operations. Growth Acceleration Programme (PAC). OSX has recently been in talks with Sete Brasil with Promef phase one consists of 23 ships with a a view to constructing at least two of the rigs. OSX capacity to transport 2.7 million deadweight tons also has a backlog of fi ve FPSOs and two well-head (DWT) - ten Suezmax, five Aframax, four Panamax platforms that it will own and lease to OGX. and four Product Ships. FPSO constructions may achieve signifi cant Phase two involves 26 ships with capacity to economies of scale in future. Eight hulls to be built for transport 1.3million DWT - four Suezmax Dynamic Petrobras under contracts signed in November 2010 Positioning support vessels, three Alframax Dynamic will be built according to standardisation measures Positioning support vessels, eight Product ships, eight designed to achieve faster construction. Each will Gas ships and three Bunker ships to transport fuel. have capacity to process up to 150,000 bpd of oil EAS is a major winner with more than US$3bn and 6 million cubic metres of gas per day. worth of contracts to build 24 of the Promef ships The eight are being built at the Polo Naval de Rio across the two phases. Grande with 70 per cent domestic content. Promef is expected to create 40,000 jobs directly Petrobras is working from a 55,000 item shopping and 160,000 indirectly, boosting the ship list in other areas. It includes 550 generators, 5,550 components industry, the metalwork industry and the derricks, 350 turbines, 700,000 tons of structural steel industry. steel for hulls, 500 wellheads, 80,000 pumps, 500 wet Christmas trees, more than 42,000km of fl exible risers and 30,000km of umbilicals. There is also huge demand for compressors, winches, cranes, combustion engines, fi lters, reactors, pipes and coatings.

SHIPBUILDING Brazil was one of the world’s biggest ship producers in the 1970s and 1980s before a severe downturn in the industry. In 2000 the entire sector had fewer than 2,000 workers but by the end of 2011 the fi gure had surged to 59,167, according to Sinaval, Brazil’s shipbuilders association. At least 15,000 more jobs Labour directly involved in Brazil’s shipbuilding industry 1998 to 2010. will be added by 2014. Data from SINAVAL (2011a).

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 31 ACCELERATEOIL&GAS

NEW VESSELS AND EQUIPMENTS Resources required for production growth Its sister company OGX has joined Delivery Plan (to be contracted) Current Situation Accumulated Value Petrobras in the race for platforms, Critical Resources (Dec/10) By 2013 By 2015 By 2020 drilling rigs and support vessels. Drilling Rigs Water Depth Above 2.000 m 15 39 37 (1) 65 (2) OSX has contracts worth US$5.8bn Supply and Special Vessel 287 423 479 568 for Açu, most of them for OGX which Production Platforms SS e FPSO 44 54 61 94 expects to have 19 FPSOs in service Others (Jacket and TLWP) 78 80 81 83 by the end of the decade. Keppel FELS Brasil, a wholly- owned subsidiary of Keppel

Production Supply Vessel Drilling Rigs Corporation, continues with a vast Platform (FPSO) range of work at its BrasFELS yard in 39 rigs contracted, 28 more to be built by 2020: Angra dos Reis, established in o Until 2013: 16 rigs contracted before 2008 and 2 rigs relocated from international operations¹; +15 new rigs contracted in 2008, +1 in 2009, +1 in 2010 and +4 in 2011 through international bidding 2000, while Sembcorp’s Jurong o 2015-2020: From the 28 rigs to be built in Brazil, EAS won the bid for the first package - construction and chartering of seven drilling rigs to be built in Brazil. A new bid was open for the remaining 21 Aracruz shipyard in Espírito Santo,

(1) Two rigs reallocated from international operations, expire in 2015, so it is not considered in the 2020 accumulated value continues its development towards

© Petrobras (2) The demand for long-term will be adjusted as new demand assessments are made. 2014 completion.

28 Each new exploration project is likely to require at REFINERIES least fi ve offshore supply vessels, pipelay support Global crude distillation capacity will hit 102.7 million vessels (PLSVs) and a fl eet of anchor-handling vessels bpd in 2016 and Brazil will be one of the leading used to relocate deep-water exploration units. areas in new refi ning capacity. Overall, the offshore supply vessel market could be Petrobras has a monopoly on Brazil’s capacity with 12 worth as much as US$8.5bn in the next decade. refi neries running at a record capacity of around 93 per South Korea’s Daewoo shipbuilding and marine cent. Capacity will grow to 3.5 million bpd by 2015 engineering delivered the Norbe VIII drillship to from 2.2 million bpd in 2010 with the construction of Odebrecht last year, to be followed by Norbe IX this fi ve new refi neries. year - both for long-term Petrobras contracts in ultra Projects include the 230,000 b/d Abreu e Lima refi nery in deep-waters. Pernambuco, which is due to open in 2013. It will be Brazil’s But Brazil’s government hopes that soon Brazilian fourth biggest refi nery and will have an emphasis on diesel. shipyards will be able to handle such arrangements. Next year will also see the fi rst phase of the Comperj BNDES’s FMM is already committed to disbursing up to unit in Rio state open with capacity of 165,000 b/d to be US$2.9bn for construction of six new shipyards. followed in 2018 with the second phase which will boast In 2011 OSX had a credit line worth more than the same capacity again. US$1.5bn approved by FMM to fi nance construction of Refi ning capacity will be greatly boosted by 2016 the Açu shipyard, which will be the largest in the with the opening of the 600,000 b/d Premium 1 Americas. Refi nery in Maranhão and the 300,000 b/d Premium II The shipyard is being constructed with South Refi nery in Ceará. Korea’s Hyundai Heavy Industries Co and OSX Nearly three-quarters of funds earmarked for downstream expects to start building its fi rst ship in the fi rst quarter operations by Petrobras in its latest business plan will go of 2013. to building new refi neries or improving existing ones.

32 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM

ACCELERATEOIL&GAS

Sponsor profi les

GRUPO AMBIPAR FIRJAN

The AMBIPAR Group has its origins in the rendering of The FIRJAN System is an important partner of companies in the services and conservation of the environment. Composed state of Rio de Janeiro when looking at the search for sustainable of 100% national capital the AMBIPAR Group assists the economic and production development. The fi ve institutions that most signifi cant segments of Brazilian economy make up the System provide solutions and services capable of participating in essential enterprises aiming at the social- multiplying productivity and promoting an improved quality of economic development of our country. From the life for employees, workers and their families. The institutions accumulated experience of the transport company that work together at the FIRJAN System include: FIRJAN - Expresso G BORLENGHI founded in 1929 by Guido Federation of Industries of the State of Rio de Janeiro, CIRJ - The Borlenghi, the AMBIPAR Group is a pioneer in environmental Industrial Center of Rio de Janeiro, SESI - Industry Social Services, solutions. It renovates daily with each of our collaborators SENAI – National Industrial Training Service and the Euvaldo and partners to meet the growing needs of our customers Lodi Institute – IEL. The prime objective of these organizations is and to guarantee the integrity of our environment. At to guarantee that the industrial segment of the State of Rio de present and also for the future generations. Throughout our Janeiro occupies a privileged position in the political, social and history of success, the AMBIPAR Group consolidates its economic spheres in Brazil. As an associate of these institutions, vocation to serve our customers and the environment your company can rely on the credibility and infl uence of the providing effi cient solutions with the establishment of lasting FIRJAN System, recognized throughout the state and Brazil, for partnerships. Because your challenge is our solution! And the professional, high quality and innovative initiatives taken to any other that the future could launch. expand the economic growth of companies in the state. www.grupoambipar.com.br www.fi rjan.org.br

FINEP SEBRAE

The Studies and Projects Finance Organization (FINEP) is a Brazilian Micro and Small Business Support Service (Sebrae) is public company managed by the Ministry of Science and a non-profi t autonomous institution whose mission is to promote Technology, which promotes economic and social competitiveness and sustainable development of micro and development by fostering innovation in public companies, small enterprises. Created in 1972, it was a government universities, technological institutes and other public or agency until 1990, when it was transformed into an autonomous private institutions in Brazil. Founded in 1967, the social service, or a private entity of public interest. Sebrae’s organization has funded thousands of successful initiatives, vision of future is to have excellence in the development of including the development of the Brazilian Agricultural micro and small businesses, contributing to build a fairer, more Research Corporation (Embrapa) and Brazilian agribusiness, competitive and sustainable Brazil. Found in all the 27 Brazilian oil exploration projects and the development of Embraer’s states, Sebrae counts on a network of more than 750 service Tucano aircraft. FINEP is the main brazilian entity aimed at units spread all over Brazil. There are more than 4.9 thousand funding and encouraging innovation in businesses and direct collaborators and more than 8 thousand accredited universities, using a combination of loans and grants. consultants and trainers that work to pass on knowledge to www.fi nep.gov.br those owning a businesses or dreaming about starting one. www.sebrae.com.br

34 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM SPONSOR PROFILES

CAIXA ECONÔMICA FEDERAL December, 2011, RRC was incorporated into the portfolio of Brasbunker Group, which allowed a Founded in 1861, CAIXA is the main agent of public greater market share in subsea offshore operations to policy for the federal government and, somehow or the company with an expected revenue of around other, it is present in the lives of millions of Brazilians. $ 50 million (USA dollar) annually from 2013. José This is because the Caixa - a 100% public institution - Ramos Duarte Junior is the General Manager of RRC not only serves its bank customers, but all formal Robótica and Marcelino José Nascimento is the CEO workers in Brazil, through these FGTS payments, PIS of Brasbunker Group. Objectives of the company and unemployment insurance, social programs during the event: Brasbunker Group and RRC are benefi ciaries and Lottery bettors. Moreover, expecting for reinforcing relationship with key prioritizing sectors like housing, sanitation, partners, customers and prospects, presenting our infrastructure and services, CAIXA has an important leadership in the market through our technologies and role in promoting urban development and social experience. Apart from all of the business networking justice in the country, helping improve the quality of possible to be achieved during the event, we also aim life, especially the underprivileged. The performance to leverage our brand awareness in the Brazilian of CAIXA also extends to the stage, classrooms and subsea sector. racetracks, with the support of artistic and cultural www.rrc-robotica.com.br initiatives, educational and sports activities. www.caixa.gov.br FALCON OIL

RRC ROBÓTICA The Falcon Oil Holding Angola has the objective to bring to fruition the private Angolan entrepreneurs’ RRC Robótica Submarina was established in response wish which consists of having Angolan companies to the need of the national Market to absorb involved in the Petroleum industry. In such mission, information and knowledge about the services we are prepared to face the challenges that will provided in the support to subsea operations carried come along our way, knowing beforehand that this out with the use of Remotely Operated Vehicles sector is a highly specialized industry and, aware (ROVs). The Company started its operations focusing that our venture will be another positive business on training and consulting, and subsequently, card in this time of peace and prosperity of our expanded its business with the rental and sale of ROV country. In addition to the obvious objective of tools and hands-on training in subsea equipment and profi ting from the activities, in the fact of we have professional simulators of subsea operations, and is been the fi rst private company to start in the oil currently involved in the mobilization and operation exploitation in Angola; we want to capitalize our of ROV systems. RRC has an operations base in investments in such way to also participate in the re- Macaé city, Rio de Janeiro, with approximately 2000 building of Angola with several social projects. m², which has all the infrastructure of mechanical, Angola is a nation of peace and opportunities and, electrical and hydraulic workshops, as well as state- humbly we want to grow and contribute for the of-art equipment to support the operations. In development of Angola.

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 35 ACCELERATEOIL&GAS

Sponsor profi les

GEOSOL NAVILLE ILUMINAÇÃO

Think about how our planet will be in 50, 100 years, A solid company, with attributes such as quality, and yet we see our work. Not because we have over experience, innovation, customer focus and 55 years of excellence in solutions of polls, or because transparency that are part of our philosophy, in we are the largest survey of iron ore in the world, but addition to having a team of professionals of the because the recent challenges that the planet imposes highest competence and credibility in the markets, on human beings require our services. Yes, we are a acting in the electrical equipments market for over 13 company in the mining sector. But we’re working well years developing projects and products, striving for together with our clients, helping them to use the excellence in providing lighting and electrical products resources the earth provides wisely, effectively and of the highest quality and safety. Quality: The Naville respect. For this, we offer special surveys techniques has its Quality Management System Certifi cate ISO for each type of area, customized to each client. We 9001, with the intention of seeking continuous have a creative team and constant training, committed improvement of its processes and consequently the to results and the deployment of sustainable mining manufacturing and supplying products that meet activities. In GEOSOL you fi nd values that go beyond market requirements and also existing regulations. mineral exploration. People who are more than Services & Products: The Naville has a great line of geologists, engineers, technicians, foremen and products in order to provide excellence and agility for drillers. Tools that bring more than technology. Here in the customers. In order to satisfy the market needs we GEOSOL you fi nd commitment to the future, because are always in constant evolution and development of our history is not just a company that started its new products. activities in the summer of 53 in coal mines and wwwnaville.com.br became a leader in services surveys. Today we know that the history of GEOSOL goes hand in hand with the history of all of us whose lives depend on the mineral resources. www.geosol.com.br

36 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM OTHER EXHIBITORS

Other exhibitors

GRUPO ALATUR HRG offi ces, with reserved space to double the area, without compromising the ecologic balance, which is part of Established in 1991, Grupo Alatur is one of the the Cotema business police. Cotema is active in the leading companies in the business travel market in Petroleum, gas and energy and rail markets. Our Brazil. The company has 1200 employees that products fi t varying applications from oil drilling, currently work from the main offi ce in São Paulo and complete line os maneuver tools, parts and components branch offi ces in Rio de Janeiro, Campinas, Curitiba, for heavy engines – diesel and gas, not to mention our Belo Horizonte, Joinville and Jaraguá do Sul. Grupo maintenance services in diverse mechanical equipments. Alatur is 100% national, affi liated to the international We also are authorized dealers for different Brazilian group HRG Worldwide, one of the leading business and multinational companies. travel management companies in the world - www.cotema.com.br consolidating an alliance between agencies with strong business travel portfolios. Grupo Alatur also set ELECTRO PROJECT up a joint-venture with MCI, the global leader in association, communication and events management. Electro Project, a fl exible organization consisting of www.alatur.com/en-us/hrg-brazil/hrg-brazil/ 35 enthusiastic well-trained (many at college level) employees would like to service. We focus on COMPANHIA DO PIPELINE MOCAMBIQUE applications and market segments where we can add ZIMBABWE LTDA value in the fi eld of consultancy, design, delivery, Companhia Do Pipeline Mocambique Zimbabwe Ltda project and service. Electro Project is VCA ** certifi ed is a private company categorized under Pipe Laying to comply with the implementation of projects related Construction and located in Beira, Mozambique. to the legal requirements in terms of occupational health, risk and managing subcontractors on site. More and more we defi ne the scope of a project in COTEMA consultation with the customer in terms of functionality, Founded in 1972 by Denisarth Steagall, Cotema performance and availability. Electro Project takes the outstanded itself in its fi rst activities through the responsibility, among other things, to control, SCADA, mechanical components nationalization. In 1975, solid remote condition monitoring, etc.. Even when standing over a qualifi ed experience in this mechanical retrofi tting existing machines and equipment with branch, decided to create many products lines to modern drive and control technology, we take full manufacture, when were developed the maneuvers responsibility for projects. Electro Project is a subsidiary tools, till then without similar in Brazil and components of GTI NV, if required we can use all the knowledge to high power railroad and marine engines applications. and experience acquired in the Netherlands largest After years of development, many work time, technical services is present. Electro Project uses the investments, overseas training and valuable ISO 9001:2000 quality system and pursues continuous collaboration of brazilian costumers. Cotema is settled improvement of business processes and increase in a 24.000 m2 area Santa Barbara d’Oeste/SP with customer satisfaction. 3.500 m2 of buildings comprising production plant and www.electroproject.nl

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 37 ACCELERATEOIL&GAS

Other exhibitors

ESSENCIS (EVTEA) and technological solutions (FEL 1 and 2); Understanding of regulatory requirements and the Essencis Soluções Ambientais refl ects in its name that need for local content. Our Mission: To provide which is its reason for being: to offer effi cient, safe, and valuable solutions with technical competence and value-added environmental solutions to customers and appropriated social-environmental aspects in order to to society as a whole. Founded on September 10th, integrate clients and suppliers from Oil, Gas, 2001, Essencis is a company controlled by two large Petrochemical and Energy markets. To provide the and solid business groups: Camargo Corrêa and Solví. professional and personal satisfaction of our workforce. Over the years, the Essencis group consolidated a Our Vision: Be recognized as a main supplier of leadership position in the environmental market. This innovative and high-tech solutions with effi ciency, position was obtained as a result of the diversity of its credibility and ethical behavior, anticipating and technologies and the expertise of its skilled team of exceeding the expectations of our clients in the Oil, professionals. These are competencies that are Gas, Petrochemical and Energy markets. Be recognized organized around the concept of environmental as a great place to work in Brazil. solutions, with an innovative approach, which places www.gaia-br.com.br the customer as the central axis of all the activities. The quality with which we serve our customers is one of the GEFCO company’s main values. One of our principles is driving value to organizations through sustainable solutions for GEFCO SOUTH AMERICA has had a presence on the our clients, the industry, society, economy, and the continent since 1999. GEFCO Brazil, which celebrates environment. This is how Essencis will reach its future its 10th anniversary this year, has won a logistics vision, which is to be recognized as the leading award presented by Infraero, the offi cial organization company in the Environmental Industry in Brazil, by in charge of Brazilian airports. GEFCO Brazil competed offering innovative solutions to customers. with over 100 logistics providers but its performance in www.essencis.com.br freight forwarding, road transport and customs clearance was acknowledged as being of top quality. GAIA In fact, GEFCO is one of the few Western logistics players with a sustained organic growth on the South With over 16 years of experience in the market, Gaia American continent: Alongside GEFCO Argentina and has extensive knowledge in all areas of Oil and Gas. GEFCO Chile, GEFCO Brazil provides a door-to-door Providing its clients with an extensive portfolio of service responding to businesses which export or which solutions which have been developed by partnering relocate parts of their production and supplies to this with national and international companies that are region. With nearly 400 employees across 15 sites, highly qualifi ed in the following areas: Support for GEFCO Brazil offers a range of comprehensive Logistics companies that operate in E & P; High-end technology Services, such as Road Transport (Overland), Sea and and innovative solutions for pre-salt; Projects tailored to Air freight (Overseas), as well as Customs Clearance operational challenges; Business evaluation, the study and Tax Representation. of its technical feasibility, economic, environmental http://br.gefco.net/

38 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM OTHER EXHIBITORS

HYTORC IRMALEX

Hytorc is the world leader in professional bolting The Irmalex is a young company but with a great pride solutions. Headquartered in the United States, the in its short history, being the national leader in the Hytorc was founded in 1968 and has since become commercialization of insulated panels. The Irmalex responsible for major improvements in hydraulic tools manufactures a diverse range of products which stand and torque tension. The company has major focus on out the insulated panels, smooth and profi led plates, developing technologies to optimize maintenance beams and trim with a high aesthetic quality and processes, construction and services, turning them into updated. The company has grown exponentially over highly profi table operations. Present in over 80 countries the past few years, due to the high quality of its products, and more than 300 patents, the Hytorc established the result of the high technical standards and human itself as the preferred brand worldwide industrial resources that the company owns. It began in 2007, market, for any application closing or opening of bolted the process of internationalization of Irmalex and has structures. The after-sales service of Hytorc is its own facilities in Angola, Spain and China. differentiated, with quality service being performed by www.irmalex.pt professionals of the highest level of qualifi cation. The Hytorc has representatives in over 80 countries, MPG ensuring you the client, quick service regardless of CNI – BRAZIL & MPG – PORTUGAL location. In Brazil, Hytorc is present since 1995, and has a specialized team, which serves the entire national CNI-Brazil have a long tradition of shipbuilding in territory. The Hytorc of Brazil is the only agent approved Brazil, is possessed of great facilities and production for importation, distribution and technical assistance capacity, as well as extensive experience in the services for all our products as an exclusive license construction of ships of the type PSV, AHTS and being issued by our American parent company. one of the few shipyards in Brazil that has built chemical www.hytorc.com.br tankers and LPG’S. MPG-Portugal is a yard with an area of 500,000 m2, dry dock 500m x 75m and a IMC SASTE production capacity of 35,000 ton / year of “turnkey” projects in all type of ships. The company has extensive experience in the Oil and www.mpg.com.pt Gas, its formation was the result of the merger of Trade and Services Ltd. Saste. by IMC Construction and Trade Ltd.., both companies with more than 15 years experience in the area. Our business professionals are always in touch with customers making regular visits to assess the contracts in progress, identifying new opportunities and new potential customers. The market recognizes the company as a provider of trust services. www.imcsaste.com.br

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 39 ACCELERATEOIL&GAS

Other exhibitors

MULTIALLOY TRADEFER

MULTIALLOY brings complete solutions in the area of Tradefer was founded in July 30, 1989 and has been special alloy with innovation, variety of products, offering all these years the quality and safety gradually service speed and high technology which means conquering its space in the crowded market of iron and profi tability and productivity in the highest level for your steel. Today with a fi rm purpose of providing services in company. MULTIALLOY is the market leader in the the commercialization and industrialization of the entire production of battery plates using the Orion Cymbals line of ferrous and non ferrous materials, the TRADEFER brand. Offering high performance solutions to critical has gained confi dence and respect. Covers the situations of attrition by: corrosion and oxidation at distribution and processing of products in carbon steel high temperatures and abrasion, besides the numerous and stainless steel, non ferrous metals, like copper and services added to MULTIALLOY products it is an aluminum. Produces Oxyfuel, Bending Tube, serving excellent choice in the area of special materials. Original Equipment Manufacturers and Equipment, Civil www.multialloy.com.br Works Construction and Industrial, Manufacturers of Steel Structures, Sugarcane and Petrochemical Industry. REGUS www.tradefer.com.br

Regus is the world’s leading global provider of innovative WELLCON workplace solutions, offering the widest range of products and services that allow individuals and companies to Founded in 1998 Wellcon is a company specializing in work however, wherever, and whenever they need to. training and consultancy in control wells with integrated Regus operates over 1,200 business centers across 550 management system in ISOS 9001, 14001 and OHSAS cities in 95 countries. Products and services range from 18001 has developed its own simulator to meet the fully equipped offi ces to professional meeting rooms, prerogatives of ultra deep water. It was the fi rst company business lounges and the world’s largest network of in Latin America to be certifi ed by international agencies video communication studios. Regus operates in more and IADC IWCF, currently accredited by IADC for well than 11 cities in Brazil where you can fi nd all support for control activities Drilling, Workover and Wellservice your business growth. (coiled tubing, snubbing and Wire Line) levels Introductory, Elementary and supervision, both for surface BOP and TECNAÇO INDÚSTRIA E COMÉRCIO LTDA BOP for Submarine. The Wellcon is committed to train professionals for the drilling and production activities at all Tecnaço works in the fi eld of engineering, manufacturing levels and run services with high standards of excellence, and assembly of large metal structures. Founded in 1994 to develop technological and propriciar the professional in Uberaba - MG, it has focused since that time on industry of extraction and production of oil and gas, the providing excellence in services allied to delivering the confi dence to address the critical operational situations most modern technology in the fi eld of metal constructions. with safety and security, preserving the physical integrity Tecnaço has a policy of continuous quality improvement of people and the environment. and will soon have ISO 9000 certifi cation. www.wellcon.com.br www.tecnaco.com.br

40 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM

ACCELERATEOIL&GAS

Speakers

ALBERTO KIRALY ALLAN KARDEC DUAILIBE BARROS FILHO ANBIMA Agência Nacional do Petróleo, Vice President Gás Natural e Biocombustíveis (ANP) Alberto Kiraly is ANBIMA vice president Director and has been responsible for the Allan Kardec Duailibe is a researcher Investment Banking area of Banco Votorantim SA since and Professor in Electrical Engineering August 2008. Between 2005 and 2008 he worked as from the Federal University of Maranhão (UFMA), executive director of BES Investimento S.A. where he where he taught undergraduate and graduate students was responsible for the areas of Capital Markets and in the same area. He holds a post-doctorate in Electrical Trade. Between 1997 and 2005, he held various Engineering from the Institute of Physics and Chemistry positions and roles at Morgan Stanley. Previously, he (RIKEN), a PhD in the same area from Nagoya University worked in investment banking at Banco Icatu, NM and Master’s degree from Toyohashi University of Rothschild & Sons and Banco Liberal. Alberto has a Technology and is a researcher at the National Council degree in Business Administration from the Getulio for Scientifi c and Technological Development (CNPq). Vargas Foundation in Rio de Janeiro and an MBA from He was a founder and is currently supervisor of the PhD Wharton Business School. program in Biotechnology at Northeast Biotechnology Network (RENORBIO). He was director of research at ALBERTO MACHADO the Federal University of Maranhão (UFMA) and Brazilian Association of Machinery & Prorector of Research and Technological Development Equipment (ABIMAQ) for the Virtual University of Maranhão (UNIVIMA). He Director of the Board for Oil & Gas was editor of the International Journal of Computational Chemical Engineer (University of Intelligence and Applications, is currently editor of the Brasil/1969), specializing in Oil Journal of Signal Processing and Statutory publications Processing, M.Sc. in Production Engineering at COPPE in Electricity and associations of various international / UFRJ (1976) and Post-Graduate in Business conferences such as the International Institute of Administration / INSEAD / France. Executive Director Electrical and Electronics Engineers (IEEE) and the of ABIMAQ. President of ArcPlan Associated Consultants author of more than one hundred scientifi c papers in Ltd. Member: Council CTPETRO, the Superior Council conferences, journals and books on Engineering and of SOBENA, Prominp Executive Committee, Advisory Electrical Energy. Council of the EC-EPC, the Board of Oil and Gas Commission and ABIMAQ Exploration and Production ALVARO A. TEXEIRA, CIVIL EG. & P. GEOL. of IBP. Former President of Brazil Supply S.A. Former ONIP / Brazilian Petroleum Institute Director of Supply of Brazil and Venezuela, CA Executive Director / Member of Newpark Drilling Fluids do Brazil Ltda. Former Consultative Council Superintendent of ONIP. He worked for Petrobras from Civil Engineer and Petroleum Geologist, 1970 to 1999, where he held various management he worked 36 years for the Brazilian positions with emphasis on the Deputy Superintendency State Oil Company - Petrobras, in Exploration and of the Department of Materials and Director of Petrobras Production projects, fi rst in Brazil and then in the foreign Social Security Foundation - Petros. Creator, professor operations carried out by its international subsidiary and coordinator of the MBA: Management in Oil and Braspetro. From 83 to 87, as Exploration & Production Gas - FGV - Management. He has woked in 16 foreign Director of Braspetro, he was responsible for several countries, negotiating contracts or lecturing. He is an joint - ventures projects in Latin America, North Sea, honorary citizen of Laffayette - USA. Africa and Near and Far East. After a short period as

42 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM SPEAKERS

coordinator of Petrobras post graduation training ARIOVALDO SANTANA DA ROCHA centers, from 1989 to 1993 he was General Secretary SINAVAL of Arpel - Association of Latin American Oil Companies, President with headquaters in Montevideo, Uruguay. Retired from Ariovaldo Santana da Rocha began his Petrobras in 1994, since then he is occupying the career working for companies such as General Secretary of IBP - Brazilian Petroleum, Gas Yanes, WV, Liberherr and Roche. He completed his and Biofuels Institute, a civil non for profi t association of undergraduate studies in Business Administration and companies and professionals, dedicated to the technical Masters. In 1980, he joined the Society of Commerce and regulatory development of the Brazilian petroleum and Navigation (Maua Shipyard) where he served for industry. Active member and past Chairman of Rio de fi fteen years as director. He was vice president fi nance Janeiro Section of Society of Petroleum Engineers (SPE and administration of the Brazilian Naval Repairs S / - Dallas). A RENAVE and President of the company Lahmeyer Dike Repair Marine Ltda. He was president of PROMAR ANA MENDONÇA - Naval Repair Shipyard Ltd. (currently PROMAR AKER Rede Petro (Petro Brasil Network) S / A). Ariovaldo is an advisor at FIRJAN, where he Executive Coordinator holds the position of Coordinator of the Forum for Executive Coordinator of the Petro Brasil Industry, Shipbuilding and “Offshore” business. He Network. In partnership with Petrobras was Consultative Advisor to ONIP, ABENDE, Femar, and SEBRAE, has coordinated since 2003 Brazilian Foundation of Welding, Grand Orient of the Petrogás Sergipe Network, which aims at the Brazil, DNV-Det Norske Veritas - Committee of South inclusion of micro and small enterprises in the production America. Since 2004, he served on the Board of chain of oil, gas and energy. President of PENSE - the Directors of Merchant Marine Fund - Department of Association of Oil, Gas and Energy Companies of Transportation. Ariovaldo was chairman of the Advisory Sergipe. Executive Director of TECNOGAS Energia Board RIO ADVB-2.006. He was president of the State Pura and EVOLUA, companies that operate respectively Commission for Shipbuilding & Offshore Chamber of in the gas engineering and renewable energy/ Commerce and Industry of the State of Rio de Janeiro environment fi elds. Civil and security engineer - UFS/ 2006 and an advisor to the City Council for Science, SE; postgraduate degree in Gas Engineering - UFS/SE; Technology and Innovation Niterói-RJ, and advisor to MBA in Environmental Management and Auditing - Shipyard South Atlantic S / A. Ariovaldo currently UNIP/SP; Master’s degree in Power Market Regulation holds the post of president of Sinaval. (in progress) - UNIFACS/BA. ARMANDO GUEDES COELHO ARAUJO LUIS ANTONIO GOMES FIRJAN Aker Solutions Chairman of Energy Business Council President Mr. Coelho graduated from Escola Luis Antonio Gomes Araujo has over 28 Nacional de Química (Universidade years experience in oil and gas industry. Federal do Rio de Janeiro) with a specialism He was President of Wellstream, General in Chemical Engineering (1963) and Petroleum Processing Manager of ABB and engineer and Project Manager and (1964). He began his professional career at Petrobras in Sales for companies such as Cofl exip, Vetco and FMC 1964, serving, among others, the functions of Director Technologies in Brazil and abroad. He graduated in 1981/1988; President of Petroquisa - 1982/1985; Mechanical Engineering from Universidade Gama Filho President of Petrobras International Trade S. A - Interbras - and has an MBA from the University of Edinburgh, UK. 1985/1986; President of Petrobras Distribuidora S. A.

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 43 ACCELERATEOIL&GAS

Speakers

- 1986/1988, Petrobras CEO - 1988/1989, CEO and Professional Experience: Chairman of the Advisory Board of Factory Carioca FCC • Brazil Steel Institute (former IBS) Catalysts - 1989/1990. He was President / Member of - Since 1993 – responsible for the areas of Market, the Board of petrochemical companies PQU, Petrofl ex, economic and fi nancial, statistics and tax issues. Polythene, Rio Polymers and Polibrasil. He is currently a - Since 1996 – responsible for the development of the member of the Board of the Brazilian Petroleum Institute - steel products market, involving activities related to IBP. He is Chairman of the Energy Business Council of the standardization in the ABNT/CB-02 (Construction), Federation of Industries of Rio de Janeiro - FIRJAN. ABNT/CB-24 (Fire Safety), ABNT/CB-28 (Steel), quality assessment and certifi cation of products. CARLOS SOLIGO CAMERINI • Private Steel Companies Association – 1982/1992 – Organização Nacional da Indústria do advice and research in the areas of market, economy Petróleo (ONIP) and international trade in steel products, including Superintendent representing the industry in international negotiations. Mechanical engineer, studied at the Federal • Interministerial Price Council - Technical Advisor in University of Rio Grande do Sul (UFRGS), 1978 and Head of Steel and Non-Ferrous Metals Master in materials science, COPPE / UFRJ. With expertise from 1979 to 1981. in management of international technical cooperation • Tecnometal - Studies and Industrial Projects - programs. He currently serves as Superintendent in the 1971/1977 - performance in market studies, National Organization of the Petroleum Industry - ONIP. technical and economic-fi nancial, feasibility studies Previously Executive Manager of the Research Center of and basic designs of expansions foundries, forges Petrobras and Executive Manager of Information Technology and steel mills. (IT) Petrobras. He was President of Petronect - Business Current functions: Electronics and General Manager of Gas Technology and • Director of Market and Economy of Brazil Steel Renewable Energy at Petrobras. He has also held various Institute and The Brazilian Center of Steel Construction. positions in nonprofi t organizations, including: President of • Technical Secretary of Cosdua (Comité de the Brazilian Association of Non-Destructive Testing - Sustentabilidad y Desarrollo del Uso del Acero) of ABENDE, Member of the National Science and Technology Alacero – Latin America Steel Association. Committee for Oil and Natural Gas - CTPetro, Member of the Board of Directors of the Pipeline Research Council CESAR CAINELLI International, Director of the National Association for Barra Energia Research, Development and Engineering of Innovative Vice President of Exploration & Production Companies - ANPEI; Director of the Foundation for Research Cesar Cainelli holds a Ph.D. in Geology Support of Rio de Janeiro - FAPERJ. from the University of Texas, USA. He has over 33 years of experience in CÁTIA MAC CORD international and Brazilian oil and gas industry. Mr. Brazilian Steel Institute (Instituto Aço Brasil) Cainelli’ has expertise is exploration projects, Director of Market and Economy particularly deep water Brazil, West Africa, and Gulf of Mexico. Mr. Cainelli is currently Vice President of Academic: Exploration and Production of Barra Energia, a new • Metallurgical Engineer - Federal University of Rio de E&P company focused on Brazil. Since joining Barra Janeiro (1972). Energia in October 2010, Mr. Cainelli has been • Specialization courses and/or improvement in economic responsible for all upstream activities. Prior to his current and accounting areas, tax and management. position, Mr. Cainelli spent 31 years with Petrobras,

44 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM SPEAKERS

the Brazilian state oil company, where he served in CHARLES A. TANG various technical and managerial positions. Notable Brazil-China Chamber of Commerce positions include: & Industry • Exploration Manager for Petrobras headquarters Chairman (2008-2010) responsible for all offshore activities in Charles A. Tang is Chairman of the Brazil- the Espirito Santo Basin; China Chamber of Commerce & Industry. • Vice President of Exploration for Petrobras America, The Chamber represents the Brazilian State of Inc., based in Houston (2004-2008) responsible for Pernambuco and the State Governments of Mato exploration in the Gulf of Mexico. During his tenure, Grosso do Sul and Pará in China. He is also a Member Mr. Cainelli signifi cantly increased Petrobras’ of the Fernand Braudel Institute of World Economics in presence in the Gulf of Mexico which helped Petrobras Sao Paulo and a Co-Founder of IPEDE - Instituto de position as a key leader in deep water development; Pesquisa e Estudo de Desenvolvimento Economico • Worldwide Exploration Manager (2002-2004) (Research and Study Institute for Economic Development). responsible for all exploration activities outside Brazil, He is the Honorary President of Beijing Chamber of including exploration initiatives in countries where International Commerce; A Member of the International Petrobras was not yet present. In this position Mr. Advisory Council of the Wuhan Government; Economic Cainelli supervised regional mapping and Advisor to the Government of Jilin City; Advisor to the hydrocarbon assessments in deep water Angola, Jiangxi Provincial People’s Association For Friendship Nigeria, Equatorial Guinea, Morocco and Mauritania. With Foreign Countries; and Advisor to the Nanning In these various assignments Mr. Cainelli produced sub-council of the CCPIT. As an executive of the Bank of successful track record in identifying, evaluating and Boston, he introduced leasing into Brazil. Mr. Tang is a winning bid rounds followed by successful drilling regular contributor to Brazil’s largest newspaper, Folha campaigns. Mr. Cainelli has repeatedly displayed his de São Paulo and in China to the Peoples Daily’s ability to successfully recruit, mentor and supervise International Finance News, and also a regular technical staff. Mr. Cainelli participated in the advanced commentator for CCTV News. He has a Bachelor’s management programs for oil and gas Executives at the degree from Cornell University and completed law Thunderbird School in Phoenix, USA, and Insead in school at the Estacio de Sá University in Brazil, where Paris, France. Mr. Cainelli is actively involved in he was an Assistant Professor of Economic Development. academia and since 1992 has regularly served as an He took a doctoral course at Paris V, Sorbonne in invited professor and lecturer for Brazilian and France. He presently heads a Brazilian mining company, international universities about Brazilian Geology, investment funds and an advisory fi rm. Sequence Stratigraphy, Turbidites, and Deep Water Depositional Systems. Mr. Cainelli also serves as DANIEL MOCZYDLOWER instructor for the American Association of Petroleum Chemtech Engenharia Ltda. Geology (AAPG) and Society of Exploration CEO Geophysicists (SEPM) and as advisor or committee Graduated with a fi rst class honours member for master and doctorate candidates. Mr. degree with distinction (Magna cum laude) Cainelli has participated as a lecturer, instructor or in Chemical Engineer from Universidade chairperson in a variety of Brazilian or international Federal do Rio de Janeiro - UFRJ and a MSc in Modelling congresses, seminars and symposia. Additionally, Mr. and Process Control from Instituto Alberto Luiz Coimbra Cainelli has 12 published papers of which include de Pós-Graduação e pesquisa de Engenharia - COPPE / “Geology of Atlantic Eastern Brazilian Basin” (Cainelli UFRJ. PMP Professional since 2004 certifi ed by the C., and W.U. Mohriak). Project Managament Institute (PMI) with over 13 years

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 45 ACCELERATEOIL&GAS

Speakers

experience in the oil industry, has participated in major EUGÊNIA REGINA DE MELO projects both in Refi ning & Supply and Exploration & Caixa Ecômica Federal Production for customers such as Petrobras and National Superintendent Oil & Gas ExxonMobil . In 2010 assumed the position of Chief Investments Executive Offi cer (CEO) of Chemtech, where he began Eugênia Regina de Melo graduated in his career as a trainee. Between 2007 and 2010 was Accounting and post-graduated in Strategic responsible for the coordination of all engineering Management of Human Resources. She joined Caixa contracts within the oil and gas area of the company, Econômica Federal in 1989, performing management including management of contracts and Comperj functions in various areas of the company. In recent years, RNEST, the biggest projects ever undertaken by she has worked as corporate segment manager in the Chemtech and two of the biggest engineering projects national Superintendencies of Minas Gerais, Espirito Santo, ever undertaken in the country. In 2009, received the Rio de Janeiro and the Federal District and as Advisor to the award of the Project Manager of the Year (Project Vice President of Finance of CAIXA Federal Savings Bank. Management Effectiveness - 2009) granted by the She currently works as National Superintendent in the World PM Magazine and Fundação Getulio Vargas areas of oil and gas investments within Caixa. (FGV). From 2008 to 2010 was also the Vice- Coordinator of the Youth Committee of the Brazilian JAKE VAN DRIES Petroleum Institute. Statoil Brasil Vice President HSE ELIANE LOBATO PEIXOTO BORGES Jake van den Dries is Vice President HSE SEBRAE (Serviço Brasileiro de Apoio at Statoil Brasil. He has previously worked às Micro e Pequenas Empresas) at Shell and Enterprise Oil in the UK, USA, Singapore, National Coordinator, Oil, Gas and Qatar and Brasil in various senior project, corporate Energy Project Portfolio and operational roles. Jake graduated as a Mechanical National coordinator of the project Engineer, specialised in Energy Technology (1980) and portfolio of oil, gas and energy in the Brazilian Service has a Masters Degree in Risk Management and Safety to Support Micro and Small Enterprises - Sebrae. Technology from Aston University (1999). He is a Coordinates, in partnership with Petrobras, a portfolio Chartered Fellow of IOSH. Jake is resident in Brasil and of projects aimed at the inclusion of micro and small envisages signifi cant contributions from IOCs towards enterprises in the production chain of oil, gas and the health, safety and environmental performance of energy. Has promoted cooperation between large and the future upstream oil and gas industry in Brasil. small businesses since 1996. Prior to joining Sebrae in 1994, she worked in the steel industry. A Metallurgical JOÃO LUIS ROSSI and Industrial Engineer at PUC-Rio, specialising in Ministry of Development, Industry & Trade Business Administration at the University of Brasilia, she Trade Analyst has a post-graduate degree in Small Business Consulting, João Luis Rossi is a Trade Analyst at the FIA-USP, Negotiation of Technology Transfer by EBAP- Ministry of Development, Industry and Trade FGV and Engineering Production from COPPE / UFRJ. of Brazil, MDIC. A graduated in International Relations from the University of Brasilia, with an MBA in Trade, Foreign Exchange and Trade Negotiations from Fundação Getúlio Vargas, João Rossi, joined MDIC in 2001, having occupied several positions in the international affairs area, such as Chief of the Minister’s International Advisory and General-Coordinator of Extra-regional

46 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM SPEAKERS

Negotiations. Currently in charge of O&G affairs at MDIC, JÚLIO CÉSAR CARMO BUENO João Rossi is responsible for developing public policies Government of the State of Rio de Janeiro aiming at the promotion of the national O&G supply chain. Secretary of State for Economic Development, Energy, Industry & Services JOSÉ RAMOS DUARTE JUNIOR Julius Caesar Carmo Bueno graduated in RRC Robótica Metallurgical Engineering from UFRJ and Director and President holds a certifi cate of qualifi cation in Quality Engineering José Ramos has been with RRC Robótica from the American Society, USA and Master’s Degree for over seven years acting as Director. in Production Engineering from the University of Since the creation of the company by Birmingham. Formerly a director and President of himself, José Ramos has always contributed for the Inmetro, he also worked for Petrobras Distribution, continued satisfaction of all customers, with a where he held executive positions including the background that makes him ideal for this position. With Presidency. He was Secretary of State for Economic a long and strong dedication, he managed to lead Development and Tourism for Espírito Santo and now RRC Robótica to a new position in the market of Oil & holds the position of Secretary of State for Economic Gas in Brazil, more specifi cally in subsea business. In Development, Energy, Industry & Services for the State December, 2011, RRC was incorporated into the of Rio de Janeiro. portfolio of Brasbunker Group, which allowed a greater market share in subsea offshore operations to the MÁRCIO FÉLIX CARVALHO BEZERRA company with an expected revenue of around $ 50 State of Espírito Santo million (USA dollar) annually from 2013. After joining Secretary of State for Development Brasbunker, Jose Ramos continued responsible for Nowadays works as Secretary of the RRC’s operations in Brazil as Director and President. State Development of the Espírito Santo His main responsibility is ensuring an outstanding since February 2010, having been customer experience through high standards that are seconded from Petrobras. Graduated in Electronic aligned with the strategy of Brasbunker for the market. Engineering from the University of Brasilia, with a Education & Certifi cations: specialization in Petroleum Engineering from the Jose Ramos has a bachelor’s degree in Administration and University Petrobras and MBA in Business Administration postgraduate in Business Management as well as from Universidade Federal do Rio de Janeiro. From specialized courses in technical tools and subsea vehicles 1981 to 1982 he worked at Flopetrol-Schlumberger as in the United States and United Kingdom. He also has an engineer and manager in the area of electronic training in project management from the Center Kelloggs registers. He joined Petrobras in 1983, where he University, California, United States. He has training course served as a fi eld engineer and operations manager for in Project Management by PMI methodology, held in Brazil. formation evaluation in the Campos Basin, in Macae. Career and Professional Experience: He was also manager of Strategic Planning and Strong experience based on work done offshore and Business Development General Manager Exploration onshore, passing through several countries and continents, and Production. In Espírito Santo, he served as manager and 6 Years of experience in work carried out abroad of onshore production in São Mateus, Manager of (North Sea, Africa, Norway and Asia). He worked as ROV project implementation Peroá, Gas Treatment Unit manager in multinational companies, attending several Cacimbas, Jubarte, among others, and general specialized training in ROV systems, as well as taught manager of Business Unit Exploration and Production various training courses in the last 10 years in the subsea of the Espírito Santo for 6 years. robotics, forming and qualifying about 600 new trainees for the ROV operators and global market.

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 47 ACCELERATEOIL&GAS

Speakers

MARCIO MARQUES MARCOS PANASSOL GE Global Research Center PwC Business Development Director – Partner: Industrial Products and Energy Energy Oil & Gas Industries Responsible for working with GE Energy’s Partner responsible for Industrial Products main customers in Brazil to identify and Energy Oil & Gas Industries at PwC technology development needs and to drive research Brazil. Responsible for the Oil & Gas expansion programs within GE’s Global Research Center to activities in Brazil and for the Energy Service Center in address the customers’ needs and to advance GE’s Rio de Janeiro. Has 29 years of experience in auditing products offerings. GE Energy business is comprised of and consulting services. Joined PwC Brazil in 1982 Power & Water, Energy Management, and Oil & Gas. and is a partner since 1997. Has a Bachelor degree in Before joining the GE Global Research Center, led GE Accountancy, Post graduate studies in Executive Oil & Gas Advanced Technology Organization in Management at COOPEAD – UFRJ and participated in Brazil. Areas of responsibility included New Product the Advanced Management Program – AMP at INSEAD Introduction (NPI) and New Technology Introduction – France in 2010. Certifi ed Public Accountant in Ohio (NTI) for Oil & Gas Subsea Drilling & Production – USA and Member of the Brazilian Institute of Equipment, Tests and Qualifi cations for NPI programs, Accountants – IBRACON. identifi cations of customer requirements and Technology Sessions (Session T) to generate Multi-Generation MARCIO R MELLO Program Plans, and also close work with key customers HRT Participações em Petróleo S.A. for identifi cation of mutually developed/funded CEO programs. Prior to joining GE Oil & Gas, led the GE Bachelor’s degree in Geology from the Aviation Repair Technology Center of Excellence team University of Brasília, 1976, and PhD in at the GE Celma site in Petropolis, Brazil. Areas of Molecular Geochemistry applied to responsibility included developing repair solutions to Petroleum Exploration from the University of Bristol, reduce cost of ownership, GE’s and external repair England, 1989. Mello had a 24-year career at shops’ support on repair procedures, scrap review, Petrobras, where he developed highly specialized parts’ salvage, and shop productivity. Have also studies about petroleum systems for most of the worked as a 6-Sigma Black Belt, supporting productivity sedimentary basins in Brazil, Africa and Latin America. projects at the GE Celma’s Overhaul shop. Prior to At Petrobras he held several managerial and technical becoming the Repair Development Manager, worked positions such as Head of the Organic Geochemistry at the GE Celma’s repair shop as a process engineer Section of Petrobras Research Center (1982-1995) and for 5 years, then moving to work as a repair development Head of the Geochemistry Center of Excellence (1996- engineer for 2 years. In 1999, earned a Bachelor of 1999). He founded and headed the fi rst Petrobras Science degree in Metallurgical and Materials Center of Excellence (CEGEQ), considered to be one of Engineering from the University of Rio de Janeiro, and the best laboratories of petroleum geochemistry in 2007 an MBA degree in Business and People worldwide. In 2000, he left Petrobras and founded Management. Analytical Solutions (AS) and Petroleum and Environment Geosciences (PEG) in Rio de Janeiro, both considered to be the leading G&G service and laboratory companies with more than 500 professionals. In 2004, both companies were sold. Also in 2004, he founded High Resolution Technology & Petroleum Ltda. The

48 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM SPEAKERS

company became leader in G&G consulting and RAUL EDUARDO DAVID DE SANSON laboratory services in the southern hemisphere. Mello FIRJAN has published over 300 papers, including books on Coordinator of Metal-Mechanical geology and geochemistry related to petroleum Business Council exploration around the world. In 1998, he received the Raul Eduardo David de Sanson graduated Distinguished AAPG Achievement Award and, in from Pontifícia Universidade Católica do 2000, the Robert H. Dott Sr. Memorial Award for the Rio de Janeiro (PUC-RJ) (1965) with a degree in publication of Petroleum System of South Atlantic Mechanical Engineering. He began his career in Margins, considered by AAGP as the best publication SANVAS Metal-Mechanical Industry (1963) within the of that year. Mello is the former president of the oil and gas sector as a supplier and a representative for American Association of Petroleum Geologists (AAPG), the domestic industry. He was the founding partner of Latin America Section, and founder and current PWR Mission of Mechanical Industry (1969), Vice- president of the Brazilian Association of Petroleum President of FIRJAN System (1997) where his Geologists (ABGP). At HRT he is the Chief Executive performance stands out in defending the greater Offi cer and a member of the board. participation of the National Industry through the launch of Movimento Compete Brasil (1998) and also through MAURICIO SYRIO the mobilisation in favour of the creation of ONIP - FINEP National Organization of the Petroleum Industry (1999) Head of Oil, Gas and Shipbuilding and his active participation in PROMINP - Mobilization Dept. Program of the National Industry of Petroleum and Mechanical Engineer, graduated in 1998 Natural Gas (2003). He is also Director of the Board of at Federal University of Rio de Janeiro - the Commercial Association of Rio de Janeiro (2004), UFRJ. He began his career in the offi ce of head of Coordinator of the Metal-Mechanical Business Council project facilities and lift systems in the international for the FIRJAN System (2005), member of the Board division of Thyssen Krupp Group in Madrid, where he for Oil and Gas ABIMAQ (2007) and Vice-President of coordinated projects implemented in Brazil and the Regional Offi ce in Rio de Janeiro ABIMAQ (2010). Argentina. Then he worked in the Division of Economic Research and Market in Furnas Centrais Elétricas S.A. REEVE WOLFORD in Rio de Janeiro. He joined FINEP in April 2002, Altrius Group LLC where he worked in the planning area and in three Managing Director different operating departments. From September 2009 Reeve Wolford is Managing Director for to April 2011 he served as Head of Monitoring, whose Latin America at Altrius Group LLC, a mission was to promote the strategic information business advisory and government affairs management of the project portfolio of the companies consultancy that provides services in Washington, DC supported by the different instruments available in and various Latin American countries for clients in the FINEP, defi ne, monitor and disseminate indicators of U.S., Latin America and Europe. In this capacity, Mr. development projects, programs, companies and Wolford manages a portfolio of projects delivered by supply chains supported within the Innovation Directory. the Altrius team, ranging from business consulting -- Since April 2011 is responsible for leadership of the detailed market studies, custom marketing and strategic Department of Oil, Gas and Shipbuilding, where he planning, establishment of corporate presence in- coordinates the activities of promotion, evaluation and country and mergers & acquisitions advisory services monitoring of projects. -- to public policy assessment, monitoring, public relations and advocacy via the government relations

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 49 ACCELERATEOIL&GAS

Speakers

division. Prior to his work at Altrius Group, Reeve ROBERTO ALFRADIQUE served for eight years as Director of Marketing at the Petrobras Brazil-U.S. Business Council. He currently serves as General Manager of Contracting senior advisor at the Brazil-U.S. Business Council, Strategies for Goods and Services representing the Council frequently in public speaking Graduated in Naval Engineering from the engagements and providing strategic guidance to Federal University of Rio de Janeiro in many of the Council’s sectoral committees, including 1979 and in Law from Federal University of Fluminense the Brazil Council’s Oil & Gas Working Group, which in 1991, he received a Masters degree in Petroleum represents the interests of the largest U.S. investors in Engineering from the Federal University of Ouro Preto in the Brazilian oil and gas space. 1987 and a post-graduate degree in Management from the London Business School in 1998. Roberto has worked RENATO BERTANI at Petrobras since 1980, beginning in the role of World Petroleum Council Operations Supervisor for completion and production of President oil in the Campos Basin. For seven years he was Renato T. Bertani holds a PH. D. in responsible for coordinating studies into the technical Sedimentary Geology and Geochemistry and economic feasibility of new oil and natural gas from the University of Illinois, USA. He production projects, including development of the Marlin has over 35 years of international experience in fi eld. He led Petrobras’ Tactical Planning Division for two exploration and production projects, acquisitions and years and served as advisor to the Director of Exploration divestments in several Latin American countries, and Production and the offi ce of the President for seven (particularly Brazil, Colombia, Bolivia, Peru, Ecuador years. He was Manager of Petrobras’ Register of and Argentina), West Africa, UK, and the USA Gulf of Suppliers of Goods and Services and Strategies for Mexico. Mr. Bertani took over as the CEO of Barra Hiring of Goods and Services. Since 2010 he has Energia, a new E&P company with focus in oil and gas worked in the Financial District, where he is General industry of Brazil in May 2010 and has since then Manager of Financial Management of Special Projects, developed the company’s strategy, assembled a team managing all initiatives aimed at developing the supply of high quality and experienced industry professionals chain of goods and services within the Petrobras System. and implemented an aggressive program of business development. Under his leadership Barra Energia RODRIGO BACELLAR established a signifi cant position in the new pre-salt BNDES exploration play offshore Brazil. Prior to his current Superintendent for Essential Goods position he served as President and CEO of Thompson Production Engineer, graduated from the & Knight Global Energy Services, LLC, a subsidiary of Federal University of Rio de Janeiro - UFRJ Thompson & Knight dedicated to render business in 1998. Began his career as a fi nancial development and portfolio management services to the analyst at Banco BBM Investimentos in Rio de Janeiro, energy industry. joining BNDES by tender in March 2000. Since then he has managed fi xed income for the steel and mining, oil, gas and alternative energy sources sectors, and from August 2007, assumed responsibility for the BNDES Card as Chief of Operations for the Internet. In June 2011, he was appointed Head of the Industrial Commodities Division, responsible for lending to the Oil & Gas, Custom Made Capital Goods, Steel, Mining & Cement, Chemical and Petrochemical, Paper, Pulp and Wood Panel sectors.

50 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM SPEAKERS

SERGIO MACHADO TOMMY BJORNSEN Transpetro - Petrobras DNV South America CEO Director of Operations Sergio Machado é presidente da Transpetro He has been on several different - subsidiária de transporte e logística da managerial positions in different Petrobras - desde junho de 2003. A geographies. Before coming to Brazil, he Companhia é responsável pelas operações de 48 was Head of the Technology and Services Department terminais de armazenamento de petróleo e derivados, in Oslo. He has 28 years background on the Maritime mais de 14 mil quilômetros de oleodutos e gasodutos e and Oil&Gas markets – 22 of them working for DNV. uma frota de 54 navios. Em 2004, lançou o Programa de Modernização e Expansão da Frota da companhia (Promef), que revitalizou a indústria naval brasileira em bases modernas e competitivas, com a encomenda de 49 navios junto a estaleiros nacionais. Formado em administração de empresas pela Fundação Getúlio Vargas (FGV), no Rio de Janeiro, foi Secretário do Governo do Ceará (entre 1987 e 1990) e foi deputado federal entre 1991 e 1995 e senador entre 1995 e 2001. Foi líder de seu partido no Senado, tendo relatado matérias como o Orçamento da União e a Reforma Política.

TED HELMS Petrobras Executive Manager, Investor Relations Ted Helms graduated from Columbia College in the City of New York in 1981 with a degree in Philosophy/Economics. Following graduation, he worked for Manufacturers Hanover Trust Co. (now merged with JP Morgan) from 1981 to 1991, as an international banking offi cer for the Caribbean and Andean regions. His tenure at the bank, included Representative positions in Peru and Venezuela. Mr. Helms worked in the New York offi ce of Petroleos de Venezuela S.A. from 1991 to 1999, where he assisted the company in raising corporate and project fi nance debt to support the company´s signifi cant expansion plan throughout the decade. He joined Petrobras in 1999 as the General Manager of the New York offi ce of Petrobras, actively participating in the company’s efforts to access the international debt and equity capital markets, including working with the ratings agencies to obtain an investment grade rating for Petrobras. In August of 2007, he was named as the Executive Manager of investor relations for the Petrobras, where in 2010 he assisted in the planning and execution of the company’s historic $70 billion equity offering.

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 51 ACCELERATEOIL&GAS

Floor plan

Room guide

Rio de Janeiro I/II – Plenery sessions

Rio de Janeiro III – Press/Media room

Salão Botafoga – Reading materials

Salão Flamengo – Pre-arranged meetings

Salão Copacabana – VIP lunches

52 THE BRAZILIAN OIL & GAS DEVELOPMENT & INVESTMENT EXPO-FORUM FLOOR PLAN/EXHIBITOR LIST

Exhibitor list

Company/Organisation Stand No. Alatur Aiagens e Tourismo...... 8 Caixa Economica Federal...... 4b Cotema...... 29 ElectroProject aandrijftechniek...... 19a Essencis Solucoes Ambientais...... 21 Falcon Oil...... 20 Ferroil...... 11 FINEP...... 4a Firjan...... 4 Gaia Oil & Gas...... 24 Gefco Brasil...... 13 Geosol...... 27 Grupo Ambipar...... 1 Hytorc do Brasil Import e Export Ltda...... 15 IMC Saste Construções Serviços e Comercio Ltda...... 12 Irmalex...... 18 MPG...... 16 Multialloy Metais e Ligas Especias Ltda...... 26 Naville Iluminação Ltda...... 22 Pipeline Moçambique – Zimbabwe Lda...... 14 Regus...... 17 RRC Robotica / Brasbunker...... 23 Sebrae...... 19 Tecnaço Indústria e Comércio Ltda...... 10 Tradefer...... 7 Wellcon Treinamento e Consultoria Ltda...... 28

SOFITEL COPACABANA, RIO DE JANEIRO 15-16 MAY 2012 Inovação só sai do papel com investimento.

Conheça o Inova Brasil, o programa de crédito para empresas inovadoras com taxas e prazos competitivos. A FINEP ajuda a viabilizar o seu projeto de inovação tecnológica, estimulando o crescimento de sua empresa e do País.

Projetos inovadores merecem crédito. www.finep.gov.br/programas/inovabrasil.asp