Petrobras' Board of Directors (BOD) approved today the revision of the project portfolio for the 2011-2014 period, with total investments of up to R$250 billion (US $138.8 billion), instead of the R$265 billion approved during a previous meeting and announced in a statement on March 19, 2010.
The Board also approved a set of projects that total investments of about R$462 billion for the post-2014 period. These projects were appraised based on a preliminary view, and in line with Petrobras' Vision for 2020. It should be noted that part of the post-2014 investments represent the development of projects that are already included in the 2010-2014 portfolio but have maturity time longer than the 5-year Business Plan, most of them on exploration and production segment.
In the Exploration & Production (E&P) area, the investments aim to increase oil and natural gas production, taking advantage of the success that was achieved in the post- and pre-salt and also the exploratory activities. The E&P project portfolio includes the construction of production platforms and drilling rigs, support vessels, and investments in infrastructure for transportation.
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