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Petrobras

Investor Relations

Plataform P-52 kicks off production in the roncador field

(Rio de Janeiro, November 28, 2007). – PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that platform P-52, designed to produce 180,000 barrels of oil per day at full capacity, will start production today in the Roncador field, in the Campos Basin (RJ).

Initially, the new platform will start by lifting 20,000 barrels per day (bpd). Production is expected to peak in the second half of 2008. When in full operation, this unit will be interconnected to 18 producer and to 11 water injector wells. Roncador field is located 125 kilometers off the Rio de Janeiro coast.

The oil that will be lifted will be sent to an autonomous re-pumping platform (PRA-1) and then transferred to a floating production storage unit (FSO Cidade de Macaé), which will also concentrate production coming from four other platforms that will kick off operation in that region in the upcoming years. From the FSO Cidade de Macaé the oil destined to domestic consumption will be transferred through off-loading ships to the São Sebastião terminal, in the coast of São Paulo. The oil to be exported will be directly dispatched through off-loading ships.

The gas will flow through a gas pipeline to a distribution unit and, from there go to the Garoupa platform and on to the mainland. The peak of the gas flow will be 3.2 million m3 per day and will probably be reached at the end of 2008.

P-52 characteristics:

•   Oil production capacity: 180,000 bpd
•   Gas treatment capacity: 7.5 million m3/d
•   Water injection capacity: 300,000 bpd
•   Interconnected wells: 18 producers and 11 injectors
•   Depth: 1,800 m
•   Distance from the coast: 125 km
•   API gravity of the oil to be produced: 28º (light)
•   Length: 125 m
•   Width: 110 m
•   Height: 150 m (including the flare)
•    Brazilian content: 75% for the topside, 85% for the generation modules, and 89% for the compression modules (excluding the motocompressors)

Platform P-52 start up is an important step in order for Petrobras to achieve the production goals its Strategic Plan calls for.

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