Empresas do Grupo

Aurizônia Petróleo was established in 2004 and has two branches, in Rio de Janeiro (RJ) and in Mossoró (RN). The company's objective is the exploration, production, importation and exportation of oil and natural gas.

The company's management and technical teams are composed of highly-qualified professionals with vast operational experience in geology, geophysics, oil engineering and other disciplines that are needed for efficient oil production.

Strategy

Aurizônia Petróleo’s strategy is based on the following basic objectives:

1. To operate at reduced costs and according to the best practices of the oil industry;
2. To build a solid reputation as an independent operator in Brazil's onshore oil and gas sector;
3. To efficiently use modern E&P technologies in its operations.

Since its inception, Aurizônia Petróleo has been highly successful in building a balanced and successful E&P portfolio in mature land basins in Brazil. Among the areas in which Aurizônia Petróleo operates, the most important are a group of areas with small and medium exploration risk in the Potiguar (RN) and Sergipe-Alagoas Basins.

Auctions and Concessions of Oil Blocks

The following table shows Aurizônia Petróleo’s participation in the different rounds of auctions conducted by Brazil’s National Petroleum Agency (ANP) for oil blocks.

At present, the company has E&P concessions for six blocks covering a total area of 158.3 km², which are:

• four blocks in the Potiguar Basin, covering an area of 98.1 km²;
• two blocks in the Sergipe-Alagoas Basin, covering an area of 60.2 km².

The concession areas are in different stages of exploration or development, as the table shows:

The most important among these concessions are the João de Barro and Periquito oil fields.

João de Barro Oil Field

In 2004, while drilling the oil well 1-AURI-2-RN in Block BT-POT-302, Aurizônia Petróleo confirmed the discovery of the João de Barro oil field in the emerged part of the Potiguar Basin between the municipalities of Areia Branca and Serra do Mel in Rio Grande do Norte. Five more wells were drilled in 2005, of which four have started oil production.

In November 2007, Aurizônia Petróleo successfully drilled a new well in the South Area of Block BT-POT-302, proving the existence of new production sites in this area, which was merged with the João de Barro oil field in January 2008.

In the North Area of the field, oil of 42 API is extracted from a depth of 1,800 to 1,850 meters. Total oil production from January 2006 to April 2008 has already reached the mark of 130,800 barrels. The South Area will be developed in 2009-2010 to produce oil of 37 API.

The oil produced is sold to Petrobras S/A. It is taken by trucks to the Guamaré Terminal from where it is transported by oil tankers to the Landulfo Alves Refinery in Bahia.

Periquito Oil Field

In February 2008, Aurizônia Petróleo drilled a new well in the Block BT-POT-790, which resulted in the discovery of new oil reserves.

The area evaluated for concession, which included the erstwhile Alecrim oil field developed by Petrobras, received ANP’s approval for the declaration of commerciality in April 2008, after which the Periquito oil field was constructed.

The Periquito oil field currently produces oil of 28 API from the discovery well, and oil of 35 API from an earlier well that was reactivated. The field will be fully developed in 2009 and will include the drilling of new development wells at depths of up to 550 meters as well as the construction of the production facilities.

Exploration Blocks

Aurizônia Petróleo still operates four concessions of exploration blocks acquired in the 7th round of auctions conducted by ANP in 2005, of which two are in the Potiguar Basin and two in the Sergipe-Alagoas Basin.

The ANP exploration program stipulates the drilling of at least one well in each block by January 2009. Given their exploration potential, these blocks were selected for the second period of exploration from among the 11 blocks initially obtained in the 7th round of auctions.