Petrobras Downstream Executive Officer, Paulo Roberto Costa, participated this Thursday, June 23, in the World Oil Companies Congress, in London. In the morning, he delivered the “Petrobras: growth, investment and a model NOC?” keynote address, in which he discussed the company’s international strategy, the outlook for the next five to ten years, and the role of governance in decision-making and planning, among other issues.
The director presented the main figures of the 2010-2014 Business Plan, highlighting the Company’s integrated business management model. He emphasized Petrobras’ capacity to grow production and reserves, and spoke about the plans to develop the pre-salt reserves. “ Production growth averaged 4.5% in the last eight years. In the next ten years, we expect output to increase at average rates of 7.6%,” he said. In 2020, the production planned for the pre-salt cluster alone is 1 million barrels per day.
The executive also mentioned the growing demand for oil products in the Brazilian market and addressed the importance of investing in downstream. Costa highlighted the projects under development to improve processing capacity, which are needed in order to keep pace with the increase in production over the next decade. “We have a challenging portfolio of opportunities for the coming years in exploration and production and in refining. We have focused attention on the new frontier of the pre-salt to be developed in Brazil and on the challenge to meet the Brazilian demand, which is growing rapidly,” he said.
In the afternoon, Costa took part in the panel discussion on “New and emerging downstream trends, strategies and investment outlook.”
Andrew Jupiter, President of the National Energy Corporation of Trinidad and Tobago, Johannes Benigni, Managing Director of JBC Energy, Sumayya Athmani, Managing Director of the National Oil Corporation of Kenya, and Dawood Nassif, General Manager for Strategy & Business Development of Bahrain Petroleum Company, also participated in the panel.
[mappress] Source: Petrobras, June 24, 2011;