Petrobras – Investor Relations

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Investor Relations

Acquisition of Baixada Santista Energia Ltda - BSE

Acquisition of Baixada Santista Energia Ltda - BSE
 

(Rio de Janeiro, March 09, 2005). – PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA], a Brazilian international energy company, announces that its Executive Board has approved the conditions agreed with Marubeni Corporation for the acquisition of all the quotas in Baixada Santista Energia Ltda - BSE, owner of Cubatão Thermoelectric Power Plant - UTE, located in the municipality of Cubatão, state of São Paulo. The plant will have a nominal capacity of 208 MW and 450 t/h of steam. Petrobras already holds 0.01% of the capital stock of Baixada Santista Energia Ltda and will reimburse Marubeni approximately R$ 47 million for its remaining 99.99%, which corresponds to the costs incurred by Marubeni in the project development up to the present time.

The Cubatão Thermoelectric Power Plant is scheduled to go into operation by October 2007 supplying 47 MW and 415 t/h of steam to Petrobras’ Presidente Bernardes Refinery, Cubatão (RPBC). Surplus energy will be sold to the market. Petrobras will benefit from the synergies between RPBC and the UTE as well as from the integration of the latter with other plants operated by Petrobras.

This acquisition is part of the Company’s corporate strategy of operating in the sector on an integrated basis in addition to the optimization of its position in the electric power market.
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