Pursuant to Rule 13a-16 or 15d-16 of the
20035-900 - Rio de Janeiro, RJ
Federative Republic of Brazil
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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Public Company
PRESS RELEASE
Petrobras announces new oil field discoveries in the Campos Basin, offshore Espírito Santo
(Rio de Janeiro, June 04, 2003) - PETRÓLEO BRASILEIRO S.A. - PETROBRAS, [BOVESPA: PETR3/PETR4, NYSE: PBR/PBRA, LATIBEX: XPBR/XPBRA], Brazil's biggest oil & gas, petrochemicals and energy company announces today four (4) new important oil field discoveries in the BC-60 Concession, northern Campos Basin, offshore the State of Espírito Santo. Besides the 1-ESS-121 oil discovery, announced last May, with estimated oil reserves of about 630 Million barrels, other three wells were concluded in the area.
These new oil accumulations are located nearby the recently discovered Jubarte and Cachalote fields, in water depths between 1,473 and 1,535 meters. Preliminary studies allow the calculation of 500 million barrels of oil reserves.
The productivity of these four oil bearing discoveries will be appraised in the near future following the
evaluation plans to be submitted to the Brazilian regulatory agency (ANP).
These new discoveries will sum up with the Jubarte and Cachalote fields, under development, about 2.1
Billions of barrels of oil reserves, and confirms the existence of a new oil province northern of the
Campos Basin, offshore the State of Espírito Santo.
Rio de Janeiro, June 04, 2003.
PETRÓLEO BRASILEIRO S.A. - PETROBRAS
Almir Guilherme Barbassa
Interim CFO and Investor Relations Director
Contacts:
Investor Relations Department
Luciana Bastos de Freitas Rachid - Executive Manager
E-mail: petroinvest@petrobras.com.br
Av. República do Chile, 65 - 4th floor
20031-912 - Rio de Janeiro, RJ
(55-21) 2534-1510 / 2534-9947
This document may contain forecasts that 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.
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PETRÓLEO BRASILEIRO
S.A--PETROBRAS | ||
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By: |
/S/ José Sergio Gabrielli de Azevedo
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José Sergio Gabrielli de Azevedo
Chief Financial
Officer and Investor Relations Director
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This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.