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Preventive stoppage at Platform P-25
(Rio de Janeiro, October 24, 2007). PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that the platform P-25, installed in the Albacora field located in the Campos Basin, producing approximately 65 thousand barrels of oil/day (bpd), were halted on a preventive basis as from October 16 due to problems in the drill pipe riser ,a flexible duct that connects the platform to the sub-sea reservoirs. The operation should return to normal on October 29. The stoppage at P-25 will reduce daily production for October by about 25 thousand bpd.
Flexible ducts have substituted rigid pipes, the installation of which is difficult and a lengthy process, and have traditionally been used by the industry worldwide until now. This riser has the largest diameter in the Campos Basin and is at the cutting edge of technology for this kind of equipment. Petrobras uses a special monitoring system that has proven to be efficient in ensuring the risers operating safety. This system allowed the identification of a change in the ducts surface, a fact that determined the production stoppage at P-25.
This document may contain forecasts that merely reflect the expectations of the Companys 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 |
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.