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Petrobras wins tender for exploration and production in Turkey
Petrobras and TPAO will soon start negotiations on all relevant contractual documents thus ensuring the Brazilian participation in a 50-50 partnership with the Turkish company for the exploration and production of blocks 3920 (Kirklarelli) and 3922 (Sinop).
The two blocks acquired by Petrobras, according to the companys technical evaluation, are the ones presenting the best geological perspectives. The Kirklarelli block, located in the west part of the Turkish sector of the Black Sea, has an average water depth of 1,200 meters. The Sinop block, located in the eastern part, has an average water depth of 2,200 meters.
The Turkish region of the Black Sea is still largely unexplored, presenting high risk but equally high potential return. Turkey is a country surrounded by important oil producing basins and crossed by major pipelines to supplying Europe.
Petrobras entrance in Turkey is in line with the companys Strategic Plan to work as an integrated energy company with selective expansion of international activities.
http: //www.petrobras.com.br/ri/english
Petróleo Brasileiro S.A PETROBRAS
Investor Relations Department
Raul Adalberto de Campos Executive Manager
E-mail: petroinvest@petrobras.com.br
Av. República do Chile, 65 - 22 th floor
20031-912 Rio de Janeiro, RJ
(55-21) 3224-1510 / 9947
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 oc cur. 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.