As one of the world's largest energy companies, we are set into motion by the challenge of providing energy to drive development and ensure the future of society. These are the pillars that marked our history and guide our future.
Our 2011-2015 Business Plan, approved on Friday, July 22, was drafted in a context of growing global demand for energy, notably oil, and of new - and promising - discoveries made in Brazilian fields. With total investments of $224.7 billion (R$389 billion), the Plan encompasses a total of 688 projects. With the completion of several projects already foreseen under the previous plan, we will continue emphasizing organic growth based on our knowledge of our oil basins.
Faced with a backdrop of significant deepwater discoveries in Brazil, we know that our investments cannot be small. Thus, we increased investment focus on exploration and production to 57% in the current Plan, up from 53% in the previous one. In this segment, the limelight is on the inclusion of the Transfer of Rights and new pre-salt projects, mainly in the field of Lula. Seeking more flexible cash management to enable our investments, we have included a divestment program worth $13.6 billion in the Plan for the first time.
Aiming at attaining a sustainable, realistic structure, we will maintain two assumptions in the Plan: there will be no new capitalization process, and the additional resources needed to fund the Plan do not envisage an issuance of shares - they will be raised from the various sources of funding that we have access to in Brazil and abroad.
Our Plan also foresees strong growth in demand for oil products on the Brazilian market. We will heighten our production development activities and expect to double our proven reserves by 2020. Today, we see the growth in pre-salt as the main vector for our future growth. Our production curve is still strongly on the rise on account of production getting underway at larger, more productive fields.
In the course of our history, we began onshore, expanded our areas to shallow waters, and then we ventured into the deep water. To conquer new established frontiers, we foresee the development of new vessels and equipment, with the receipt of 24 more drilling rigs, over and beyond new ships and platforms.
This challenge is our energy.
For more details about the Business Plan, see the slideshare below and visit our Investor Relations site.