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Petrobras wins Petroleum Economist Award in two categories

Awards received by Petrobras

In the 2007 edition of the Petroleum Economist Awards, sponsored by Petroleum Economist, one of the most reputable magazines in the Oil and Gas sector, Petrobras received two awards. The president of the company, José Sergio Gabrielli de Azevedo, received the award “Energy Executive of the Year 2007,” while Petrobras received the “Energy Company of the Year 2007” award. Petrobras was also a finalist in the category “Shareholder Communication Award,” in which the winner was Sasol Chevron. The ceremony took place in London on September 18.

Company celebrates new discovery of oil in Angola

Aerial view of Luanda

Petrobras and its partners in Angola have discovered oil in Block 15/06, in deep water, located 350 kilometers from Luanda. The discovery was made in the N’Goma-1 well at a total depth of 3,383 meters, drilled at a water depth of 1,421 meters. In this block, Petrobras holds a 5% stake, while the stakes of the other partners are: ENI, which will be the operator, 35%; Sonangol P&P, 15%; SSI Fifteen Limited, 20%; Total, 15%; Falcon Oil Holding Angola AS, 5%; and Statoil Angola Block 15/06 AS, 5%. The oil found is rated 22.5º API. As a result of the discovery, new wells will be drilled in neighboring structures, for the purpose of evaluating their potential and finding synergies to better develop the western part of the block. Petrobras has operated in Angola since 1979. Currently, the company holds a 27.5% stake in Block 2/85, which will provide it with production of around 2,900 bpd; it is developing exploratory activities in Block 34, where it has a 30% stake; and it has signed agreements with partners to explore blocks 6/06, 18/06, and 26 (as operator), in which it holds stakes of 40%, 30%, and 80%, respectively.