Pursuant to Rule 13a-16 or 15d-16 of the
20031-912 - Rio de Janeiro, RJ
Federative Republic of Brazil
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
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Clarifications on the unification of the Pre-salt areas
Rio de Janeiro, August 20, 2008 – PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, in response to written notice CVM/SEP/GEA-2/No. 195/08, regarding the report “To make this area unification viable (...) Petrobras is suggesting the oil company’s capital be increased by some 100 billion,” published by the O Globo newspaper, on 08/20/2008, clarifies that:
| a) |
The company does not know who the source of the article was. |
| b) |
In the regulatory framework in effect in Brazil, unification is foreseen in art. 27 of Law No. 9478, of 08/06/1997 (Oil Law), and mandatory when an oil or natural gas field extends itself over two or more contiguous blocks, the exploratory and
production rights for which belong to different concessionaires. The unification of the areas described by the article does not require any additional capital contribution to Petrobras. |
| c) |
In order for the unification to be carried out, there must be previous agreement among the concessionaires, the ANP must approve the procedure, the concessionaries must prepare a Development Plan, the stakes each one will have in the common field
must be determined, and a decision must be made regarding which company will be the operator for the unified area’s development and production activities, among other contractual matters. |
| d) |
The Company does not have enough data that indicates the Pre-salt Region in the Santos Basin will require unification. |
www.petrobras.com.br/ri/english
Contacts: PETRÓLEO BRASILEIRO S. A. – PETROBRAS
Investor Relations Department I E-mail: petroinvest@petrobras.com.br / acionistas@petrobras.com.br
Av. República do Chile, 65 – 22nd floor - 20031-912 - Rio de Janeiro, RJ I Tel.: 55 (21) 3224-1510 / 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.
PETRÓLEO BRASILEIRO S.A--PETROBRAS |
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By: |
/S/ Almir Guilherme Barbassa
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Almir Guilherme Barbassa
Chief Financial Officer and Investor Relations Officer |
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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.