Guarantees for Concession Agreements for Petroleum Exploration
Derivative Financial Instruments, HEDGE and Risk Management Activities
Pronouncements, Interpretations and Orientations That Will Come Into Force in 2010
Petrobras gave guarantees to the National Petroleum Agency (ANP) in the total amount of R$ 4,100,403 for the Minimum Exploration Programs established in the concession agreements for exploration areas, with R$ 3,555,688, net of commitments already undertaken, remaining in force. Of this amount, R$ 2,975,888 corresponds to a lien on the oil from previously identified fields already in production, and R$ 579,800 refers to bank guarantees.