Petrobras – Investor Relations


Investor Relations

Entrada em produção da P-34 - Campo Jubarte

Rio de Janeiro, December 18, 2006 – PETRÓLEO BRASILEIRO S/A - PETROBRAS,
[Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that the P-34 platform has started operations, beginning the Phase 1 of production at the Jubarte field.

The Jubarte-4 horizontal well will produce approximately 15 thousand barrels per day (bpd) of
heavy oil, with API gravity of 17 degrees. Three other wells will constitute a contribution to P-34 to achieve its nominal capacity of 60 thousand bpd in the coming months. The second producer well, ESS-110, is estimated to start producing by the end of 2006. When the P-34 production eaches its peak, the Espírito Santo Business Unit (UN-ES) is expected to attain a production of 135 thousand bpd, contributing more significantly to the increase of the national oil production.


The start of production of the P-34 platform represents another important step towards the achievement of Petrobras’ petroleum production goals set forth in its Strategic Plan.

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