INDUSTRY PERSPECTIVE PETROBRAS APPROACH TO ASPECTS OF ASSET INTEGRITY / PROCESS SAFETY



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INDUSTRY PERSPECTIVE PETROBRAS APPROACH TO ASPECTS OF ASSET INTEGRITY / PROCESS SAFETY International Regulators Forum Perth, Western Australia 21-23 October 2013 Solange da Silva Guedes E&P Executive Manager for Production Engineering

The presentation may contain forecasts about future events. Such forecasts merely reflect the expectations of the Company's management. Such terms as "anticipate", "believe", "expect", "forecast", "intend", "plan", "project", "seek", "should", along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein. The Company is not obliged to update the presentation/such forecasts in light of new information or future developments. All projects forecasted herein are subject to approval by the appropriate stakeholders. CAUTIONARY STATEMENT FOR US INVESTORS The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation, such as oil and gas resources, that the SEC s guidelines strictly prohibit us from including in filings with the SEC.

AGENDA PETROBRAS IN NUMBERS PROCESS SAFETY ASSET MANAGEMENT PROCESS SAFETY X INTEGRITY

AGENDA PETROBRAS IN NUMBERS PROCESS SAFETY ASSET MANAGEMENT PROCESS SAFETY X INTEGRITY

PETROBRAS IN NUMBERS Totally Integrated Company EUA Japan Mexico Colombia Venezuela Benin Nigeria Peru Bolivia Brazil Paraguay Gabon Angola Namibia Tanzania Chile Uruguay Argentina Exploration & Production Downstream Distribution Gas & Energy International Biofuels Oil and Gas Production: 2,4 million boe/d Oil Fields: 293 96% of Brazilian production 34% of total production in deep and ultra-deep water 12 refinery in Brazil Capacity: 2.0 million bpd Oil Production in Brazil: 1,997 thousand bpd 7.642 service stations 38,1% share in Brazilian market 20% of gas stations in Brazil 9,190 km of gas pipeline Natural Gas: 74,9 million m 3 /d 3 LNG plant of total capacity of 41 million m3/d 7,028 MW of Power Generation 17 countries Proven reserves: 0,7 Bi boe (SPE) Oil and Gas Production: 235 mil boed Refinery capacity: 231 mil bpd 3 Biodiesel plants Alcohol New markets Largest producer of biodiesel in Brazil 3rd largest producer of ethanol in Brazil

PETROBRAS BUSINESS AREAS Totally Integrated Company

PRODUCTION Long History of implementing offshore projects in Brazil Thousand bpd 2000 1600 1200 800 400 0 181 653 42 1,271 1,980 1,476 749 400 292 156 75 106 211 230 212 1980 1990 2000 2012 136 Onshore Shallow Water Deep Water Deep & Ultra Deep Water Pre-Salt 191 offshore units (45 floating) 68 offshore rigs 63 onshore rigs Onshore Rig Onshore Facilities Fixed Platform Shallow Water FPSO Deep Water FPSO Ultra Deep Water

PETROBRAS IN BRAZIL E&P information Manaus-AM (OU-AM) Natal-RN (OU-RN) Reserves Proven reserves 12.3 billion boe (SEC) Internal Reserve Replacement >100% in the last 21 years Aracaju-SE (OU-SEAL) Salvador-BA (OU-BA) Production 2,355 thousand boed Vitória-ES (OU-ES) Macaé-RJ (OU-BC) Rio de Janeiro-RJ (OU-RIO) Santos-SP (OU-BS) Itajaí-SC (OU-Sul) Exploratory Area 168 Exploration Blocks 21 sedimentary basins Human Resources 27.000

PETROBRAS IN BRAZIL E&P installations E&P Installations Manaus-AM (OU-AM) Natal-RN (OU-RN) Aracaju-SE (OU-SEAL) Salvador-BA (OU-BA) Vitória-ES (OU-ES) Macaé-RJ (OU-BC) Rio de Janeiro-RJ (OU-RIO) Santos-SP (OU-BS) Itajaí-SC (OU-Sul) 9 Operations Units 9,689 wells 262 Onshore Production Facilities 8 GPP (Gas Processing Plant 114 Platforms 28 FPSO

AGENDA PETROBRAS IN NUMBERS PROCESS SAFETY ASSET MANAGEMENT PROCESS SAFETY X INTEGRITY

PROCESS SAFETY Petrobras HSE Policy and 15 Guidelines Leadership and Accountability 1 8 Training, Education and Awareness Regulatory Compliance 2 9 Information Management Risk Evaluation and Management 3 10 Communication New Projects 4 11 Contingency Operation and Maintenance 5 12 Community Relations Management of Change 6 13 Accident and Incident Analysis Acquisition of Goods and Services 7 14 Product Stewardship 15 Assessment and Continuous Improvement

PROCESS SAFETY Petrobras HSE Results HSE New Projects Continuous Improvement Program HSE Results PSP Process Safety Program HSE Safety Manual HSE Excellence Project Process Safety PEGASO HSE Policy and 15 Guidelines PAG- HSE Management System Evaluation 2000-2001 2002-2003 2004-2005 2006-2007 2008-2009 2010-2011 2012-2013 Oil Spill Over one Barrel LTIF - Lost Time Injury Frequency

PROCESS SAFETY Petrobras risk management process PROCESS SAFETY MANAGEMENT HSE COMMIT Police and TO Management System and its PROCESS guidelines or elements SAFETY As built Documents Safety Studies Management of Recommendations RISKS from Studies UNDERSTAND HAZARDS & Safety Critical Elements operational Procedures equipment & Systems CONTINGENCY: Planning MANAGE and Management of Emergencies RISK TRAINING and Communication Management of Change (MOC) Accidents and incidents analysis Critical LEARN Analysis FROM Audits EXPERIENCE Assesment and continuous improvement Management of Change Source: www.aiche.org/cep

PROCESS SAFETY PROCESS PEOPLE PROCESS PLANT EQUIPMENT INSTALLATION TRANSPORT Engineering and Design Risk Analyzes Management of Change Maintenance and Inspection Alarms and Process Control Operational Procedures Human Factor Procedures Safety analyze of tasks Qualification/ Training Behavior Workplaces Organizational factor

PROCESS SAFETY Petrobras risk management process Process Safety Guidelines and Policies Safety Studies Hazards Identification Risk Evaluation Maintenance Plans Procedures Safety Critical Elements (SCE) Incidents /Accidents Extention Analysis 5 years Permanent Safety Critical Elements Temporary Management Operate safely Identify and Manage changes

PROCESS SAFETY Indicators FATALITY CATASTROPHE Lost time accident Leading Indicators Process accident Process Safety Accident Process Safety Incident Without lost time accident Loss Of Primary Containment Assessment and regulatory compliance indicators Maintenance of mechanical integrity indicators Incident Behavioral deviation Management Lagging Indicators Incident Deviations of risk control barriers (Project and Operation) Reliability indicators Process safety training and competency indicator OCCUPATIONAL HEALTH AND SAFETY PROCESS SAFETY

AGENDA PETROBRAS IN NUMBERS PROCESS SAFETY ASSET MANAGEMENT PROCESS SAFETY X INTEGRITY

ASSET INTEGRITY The Petrobras s Asset Integrity management strategy, for the present days and for the future, is supported by two initiatives: 1 2 E&P Asset Integrity Management GIOp (IO) Integrated Operations Program

E&P ASSET INTEGRITY E&P Asset Integrity Management Management and Technical Projects: Performance Strategy Governance Human Resources SAP Standardization New Projects Routine Monitoring and Control Cost Management Life Extension Material & Services Corrosion Management Learning Phase Turnaround Floatel Management Steady state Phase Aging Phase Installation's Life Time

GIOp (IO) Integrated Operations Program Reservoirs Monitoring Wells Surveillance Plant Surveillance Critical Equipment Monitoring Petrobras Integrated Operations Management Integrated Decisions Process Operational Support Integrated Planning Integrity Monitoring

AGENDA PETROBRAS IN NUMBERS PROCESS SAFETY ASSET MANAGEMENT PROCESS SAFETY X INTEGRITY

PROCESS SAFETY x ASSET INTEGRITY ACCEPTABLE NOT TOLERABLE EFFORT/TECHNOLOGY Plan PROEF Act Do Check DEGRADATION RISK

INDUSTRY PERSPECTIVE Thank you! Solange da Silva Guedes E&P Executive Manager for Production Engineering