Petrobas CEO Parente Sees Oil Between $50, $55 in 2017

The transcript discusses oil price forecasts for 2017 and 2020-2021, focusing on deepwater drilling costs and break-even points. It highlights productivity improvements and cost reductions in oil production, emphasizing the impact of currency fluctuations and equipment cost management. The discussion also covers future cost projections and initiatives aimed at further reducing costs, such as the '35 initiative'.

What was the expected oil price range for 2017 according to the forecast?

• Between $70 and $75

• Between $60 and $65

• Between $50 and $55

• Between $40 and $45

What is the current break-even cost for deepwater drilling compared to a few years ago?

• Below $40

• Above $80

• Around $70

• Exactly $50

How has the productivity of wells changed over time?

• It has decreased to 15,000 barrels a day

• It has remained constant at 20,000 barrels a day

• It has increased to 26,000 barrels a day

• It has increased to 50,000 barrels a day

What is one of the strategies mentioned for reducing costs?

• Increasing the number of platforms

• Renegotiating daily rates of equipment

• Hiring more staff

• Expanding to new markets

What is the goal of the '35 initiative' mentioned in the transcript?

• To increase production to 35,000 barrels a day

• To explore 35 new oil fields

• To reduce the break-even cost to below $35

• To maintain the current break-even cost