Read our announcement:
This Wednesday (March 30th) the Petrobras Board of Directors approved the names put forward for executive posts at the company, in line with the new administrative structure that was outlined in January. With the company’s new governance and organizational management model, there will be a 43% cut in the approximately 5,300 administrative posts in non-operational areas, well over the initial target of 30%.
In 2015, we posted a 25 percent increase in adjusted EBITDA; however, due to the write-offs we had a loss. Read the announcement we disclosed on Monday (Mar. 21).
We have started the Sépia Anticipated Production System, previously the Northeastern area of Tupi, in the pre-salt cluster of the Santos Basin. The operation got underway with vessel platform FPSO Cidade de São Vicente, the output of which will be about 20,000 barrels of oil per day during the test period.
We announced to the market on Wednesday (Mar. 02) that insofar as the sale of stakes in Petrobras Argentina is concerned, announced through a Material Fact on 01/20/2016, our Executive Board approved the conducting of negotiations with Pampa Energia, on an exclusive basis, for 30 days - a term that may be extended for an equal period.