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Main Petrobras Projects in the Growth Acceleration Plan

Feb '07
The Brazilian Growth Acceleration Plan (GAP) launched by the Federal Government It includes 183 Strategic Plan projects to be developed by Petrobras and its partners.

This 183 of Petrobras' Strategic Plan projects, representing investments in the order of R$171.7 billion in oil and gas and in renewable fuel programs to be made by Petrobras and its partners through 2010.

Underpinned by socio-environmental responsibility and profitability principles, the Strategic Plan is in line with the GAP's goals. In consonance with the company's goals, the GAP's premises for the sector include:

- Ensuring Brazil's long-term oil self-sufficiency, with a minimum production 20% above Brazilian internal consumption, with a minimum 15-year reserve/production ratio, and heightened light oil production;
- Boosting and modernizing the refining park, increasing Brazilian oil participation in the processed load and bettering byproduct quality;
- Accelerating Brazilian gas production and offer;
- Ensuring Brazil's leadership in the biofuel area.

The wide-ranging project portfolio Petrobras' Business Plan encompasses for the 2007-2010 period also seeks to grow oil and gas reserves, to expand transportation and distribution infrastructure, and to augment alternate and renewable fuel and energy source research and development.

To maintain long-term growing production, Petrobras has been boosting its exploratory portfolio. It currently has, for future exploration, more than a hundred blocks purchased in National Petroleum, Natural Gas and Biofuel Agency (NPA) auctions. Additionally, it has exploration agreements in several other countries, allowing it to set a production goal of 4,556,000 barrels per day for 2015. For the end of the decade, the forecast is a total oil and gas production of 3,493,000 barrels per day, 2,925,000 of which from Brazilian fields.

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