Petrobras to Finalize 5-Year Investment Plan in 2009

Petrobras, a Brazilian international energy company, announces that during a meeting held Dec. 19, 2008, Petrobras' Board of Directors analyzed the company's 2009-2013 Business Plan and, due to the markets' uncertainties and volatility, it was unable to complete its assessment. 

The Board of Directors decided unanimously to resume the agenda in January when, depending on the final evaluations, it may approve the Plan. Additionally, the Board recommended the revision of the projects analysis based on new cost assumptions.
The Board of Directors reiterated the maintenance of Petrobras' investment policy and that the existing evaluations indicate the feasibility of the investments in the pre-salt area.