Petrobras: Pedro Parente highlights the improvements in our safety and financial indicators at the OTC

Pedro Parente highlights the improvements in our safety and financial indicators at the OTC

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Our CEO, Pedro Parente, delivered on Tuesday, May 02, the lecture “Petrobras’ Opportunities in a new oil and gas scenario” at the Offshore Technology Conference (OTC), in Houston (USA). He highlighted the company’s gradual financial recovery after the implementation of the 2017-2021 Strategic and Business Plan. The OTC is the world’s largest event dedicated to offshore exploration and production.

“We came out of an extremely high debt, more than five times our cash generation, and reached 3.5x in 2016. It is still a high debt, thus our efforts to achieve the target of 2.5x in 2018, pursuant to our BMP,” remarked Parente. He also spoke about the drop in the Reportable Accident Rate (RAR), from 2.2, in 2015, to 1.6 in 2016.

In addition to outlining a panorama since his arrival at the company, last May, the executive discussed the prospects for Petrobras, which has adopted a robust partner program. “We are adopting a new strategy, creating opportunities for both industry operators and suppliers, and expanding partnerships with universities and research institutions,” pointed out Parente. The executive says that the agreements enable cutting-edge technological development with lower costs and higher growth in production.

The CEO noted that we expect to soon introduce a new divestment portfolio. Parente reaffirmed the $21 billion target for divestments and partnerships in 2017 and 2018.

“Our initiatives are moving towards increased company efficiency and competitiveness in the global oil and gas market,” he added.

*Photo: Pedro Amorim / Petrobras