Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. 

Form 20-F ___X___ Form 40-F _______

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes _______ No___X____

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Petrobras approves the hiring of Vessels

Rio de Janeiro, December 04, 2009 – Petróleo Brasileiro S.A. - Petrobras announces that during a meeting held on 12/03, it approved the chartering of twelve of the nineteen vessels foreseen in the program called EBN (Empresas Brasileiras de Navegação, or Brazilian Shipping Companies).

The EBN involves the chartering for fifteen years of vessels to be built by Brazilian companies in shipyards located in Brazil. The program also establishes that the vessel must sail under the Brazilian flag and remain as such throughout the term of the contract.

The twelve vessels to be contracted will be granted to the tender winners in lots, as follows:

A- Three vessels for light oil products of approximately 45,000 DWT (Dry Weight Tons), with Global;
B- Three vessels for bunker of approximately 2,500 DWT, with Delima;
C- Three vessels for bunker of approximately 4,500 DWT, with São Miguel;
D- Three pressurized gas vessels of 7,000 m3, with the Elcano.

The contracting of the remaining seven vessels foreseen under the program, four of 30,000 DWT and three of 45,000 DWT, was not approved yet.

This program is part of a set of initiatives Petrobras has undertaken to drive naval construction in Brazil. The initiative aims to reduce dependence on international maritime freights, generating jobs in Brazil and uses international cost and quality parameters as reference.

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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 – 22^nd 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.

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This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that are not based on historical facts and are not assurances of future results.  These forward-looking statements are based on management's current view and estimates of future 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 o f 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. 
All forward-looking statements are expressly qualified in their entirety by this cautionary statement, and you should not place reliance on any forward-looking statement contained in this press release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.

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