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Petrobras turns 60 years old with the target of doubling production

To celebrate the occasion, the company will launch five films to be shown in cinemas, on TV and online

Tomorrow, October 3, Petrobras turns 60 years old. The company aims to double current oil production by 2020 to reach 4.2 million barrels per day (bpd). In 2013 alone, nine platforms with a total production capacity of 1 million bpd will be delivered to Petrobras. The company has contracted 28 offshore drilling rigs for ultra deepwater. This equipment is being built in Brazil for the first time, and deliveries will commence in 2015. Forty-nine transport ships have been commissioned to carry the oil to shore, five already delivered.

Petrobras is also planning a big step forward in refining. The production of oil products, including diesel, gasoline and jet fuel, will increase from the 2.1 million barrels per day it currently produces to 3 million bpd in 2020. The Abreu e Lima refinery in Pernambuco, and the COMPERJ (Rio de Janeiro Petrochemical Complex) are largely responsible for the increase. The first train for the Abreu e Lima refinery is expected to start running in November 2014 and the second in May 2015. The first train for COMPERJ will start running in August 2016.

In the fertilizer segment, Petrobras is set to nearly double its current production capacity of urea, reaching 3.5 million tons in 2020. For this to happen, two fertilizer units are being built, one in Mato Grosso do Sul and the other in Espírito Santo. Capacity was 1.1 million tons/ year, but in July this year, it reached 1.8 million tons/year with the acquisition of the Fertilizer Plant in Paraná.

To double output, the company is developing cutting edge technology. The Petrobras Research Center (Cenpes) coordinates 49 thematic networks with 88 universities, as well as carrying out research in its own laboratories. This is one of the greatest collaborative projects between business and academia in Brazil. The themes of each network are related to the Company's technological targets. With the discovery of pre-salt reserves, the scale and complexity of Petrobras demands have increased, encouraging various suppliers, including multinationals, to build research centers in Brazil near Petrobras facilities or partner universities.

Film campaign to air tomorrow

To celebrate, Petrobras will launch the "Origem da Inspiração" (Source of Inspiration) series, with five cinematic films, each two minutes long. The first film, which airs tomorrow (Oct 3) on the main TV stations, is on the history of Petrobras, told in reverse, beginning with the pre-salt campaign that became known as "O Petróleo é Nosso” (The oil is ours). The film is directed by Paula Trabulsi and Katia Lund.

The other four episodes are also made by filmmakers (Juliana Rojas, Anna Azevedo, Álvaro Furloni and Aly Muritiba) and recount inspiring stories of overcoming setbacks through pure Brazilian passion and determination. The films will be shown in more than 400 cinemas to an estimated audience of over 1 million people and you can also watch them at petrobras.com.br/meinspira.

As well as television, cinema and the internet, the campaign appear in newspapers and magazines, on the radio and at subway stations.

Growth in production and reserves

Founded in 1953, Petrobras took over the remaining assets of the National Petroleum Council - CNP, responsible for activities in the oil sector: production of 2,700 barrels of oil per day in Bahia, oil reserves of 170 million barrels, as well as one refinery in operation and another under construction. Today, the Company's proven reserves in Brazil are 15.7 billion barrels of oil equivalent (oil and gas), and discoveries that could at least double over the coming years. The company has 12 refineries in operation in Brazil, two in the implementation phase and a further two still on the drawing board.

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