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Petrobras begins test phase production in deep waters of the Espírito Santo basin

The Seillean will operate in the pilot phase of production from the Golfinho Field where the FPSO’s Capixaba and Cidade de Vitória are to be sited in the first half of 2006 and the first half of 2007, respectively. Both units have capacities to process 100,000 bpd.

Initial output in the Golfinho Field produces 28.5º API light oil. Start-up of these operations is particularly significant since it represents the first production of oil in deep waters outside the Campos Basin.

http: //www.petrobras.com.br/ri/english

Petróleo Brasileiro S.A – PETROBRAS
Investor Relations Department
Raul Adalberto de Campos– Executive Manager
E-mail: petroinvest@petrobras.com.br
Av. República do Chile, 65 - 22^nd floor
20031-912 – Rio de Janeiro, RJ
(55-21) 3224-1510 / 9947

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