the company’s proved reserves. With this addition, the Reserve Replacement Index (RRI) was 152%, which means that for each barrel of oil equivalent produced during 2011, we added 1.52 barrel of oil equivalent to the reserves. These figures show that Petrobras’ Reserve/ Production (R/P) indicator rose to 19.2 years, resulting in the 19th consecutive year of positive reserve replacement rates. @
PROVED RESERVES
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The prospects generated from the Pre-Salt layer exploration helped Petrobras close 2011 with proved reserves of 15.706 billion boe (according to the NPA/Society of Petroleum Engineers - SPE criterion), 2.8% more than the previous year. During the period, 1.242 billion boe in reserves were appropriated and 819 million boe produced, incorporating 423 million boe to
PROVED OIL, NGLS, CONDENSATE AND GAS RESERVES NPA/SPE BILLION BOED
2007 2008 2009 2010 2011
Oil, NGL and condensate
12.4
2.6
12.5
2.6
12.6
2.3 13.4
13.2
Among the main appropriations in 2011 are the discoveries of Sapinhoá, in the Santos Basin Pre-Salt region; of Tiziu and Patativa, in Rio Grande do Norte and Ceará; Tapiranga Norte, in Bahia; and in the Albacora field, in the Campos Basin, in addition to reservoir management actions. The drilling of the second extension well in the Guará discovery assessment plan (DAP), in December, confirmed the continuity of the accumulation in the Pre-Salt. Moreover, the completion of the EWTs at the discovery well allowed the area to be declared commercial, giving rise to the field now called Sapinhoá. Of the new fields that were discovered, besides those mentioned, the highlights are two exploratory wells in the Forno and Guanabara accumulations, the former in the Pre-Salt Albacora field region, while the latter in the Post-Sal area, 70 kilometers southwest of the
2011 SUSTAINABILITY REPORT
15.1 14.9 2.6 2.5
16 15.7
Natural gas
NEW DISCOVERIES
38
15
Jubarte field. Drilling in the Gávea prospect, located 110 kilometers from the Maromba and Papa Terra fields, in the Southern portion of the basin, in 2,700-meter deep waters, resulted in another discovery in the Pre-Salt layer. Drilling in the Brigadeiro, Pé de Moleque and Quindim prospects, in a water depth of 1,900 meters, afforded the discoveries of three accumulations in the Post-Salt layer. Made between May and August, they are located about 45 kilometers east of the Golfinho field – together with the Cocada area – and consolidate the frontier called Parque dos Doces, in which Petrobras holds 65% of the concession’s equity stakes. Abroad, for example, Petrobras announced recent discoveries in the United States, in the Hadrian and Logan projects, both in the Gulf of Mexico. The company also continues developing the production assets in St. Malo, Tiber, Stones and Cascade & Chinook, and exploration projects.