Petrobras Names New CEO

Petrobras Energia announces Decio Fabricio Oddone da Costa has been appointed the company's new Chief Executive Officer, a position he will take over on February 1, 2008. He had been serving as the International Executive Manager for the Southern Cone, and as the President of the Board of Directors of Petrobras Energia and Petrobras Energia Participaciones S.A.

Oddone was hired by Petrobras in 1985, and since then he has developed a distinguished professional career at the company. He will replace Carlos Fontes, who performed as Petrobras Energia's CEO last year, will now hold a new senior management position in Brazil.

Oddone, who is 47 years old, is an electronic engineering graduate from the Federal University of Rio Grande do Sul. He later went on to study oil engineering at Petrobras, and took the Advanced Management Program at Harvard Business School, in the United States, and the Advanced Management Programme, at INSEAD, in France. He was awarded an honorary Master's Degree in Business Administration from the Alta Escuela de Direccion y Administration de Empresas, of Madrid, and, also, an honorary doctorate in Education from the University of Aquino, in Bolivia.

Oddone was a member of the pioneering deepwater exploration team in Brazil and held several managerial positions at Petrobras in Brazil, Argentina, Angola, Libya and in Bolivia, where he served as Petrobras Bolivia's president between 1999 and 2004.

In 2000, Petrobras Energia's new CEO was chosen the executive of the year by the Camara de Comercio Boliviano-Brasilena, an entity he presided over from 2001 to 2004. Additionally, he was decorated with the Rio Branco order as a "Comendador" by the Brazilian Government, and with the Peacekeeper Medal by the Brazilian Army.