Petrobras – Investor Relations

Petrobras

Investor Relations

Releases - P-52 Begins Production Tes

(Rio de Janeiro, November 23, 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 kicked production operating tests off in the Roncador Field, in the Campos Basin, today (11/23). While the initial volume will be 20,000 barrels per day, its total capacity, 180,000 barrels per day, is expected to be reached in mid-2008.

A semi-submersible-type unit, the P-52 is installed 125 km off the coast, at a water depth of 1,800 meters, a Brazilian record. In addition to the excellent-quality light oil (28o API), the platform will also produce 7.5 million cubic meters of natural gas per day.

The platform’s hull was built in Singapore, and its operating modules were made in Brazil. When in full operation, the platform will be interconnected to 18 production and 11 water injector wells.

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