Brasília, September 5, 2003 (Agência Brasil - ABr) - Petrobras's director of Exploration and Production, Guilherme Estrella, admitted yesterday (4) that it should take between eight and ten years for the 419 billion cubic meters of natural gas discovered in the Campos Basin to reach the final consumers, "although the company will endeavor for consumers to receive the benefits of the discovery as quickly as possible."

He recalled that the large volumes of gas discovered in the Santos Basin - which still cannot be considered reserves, since this only occurs when they come to be considered commercially viable - can indeed, in the medium-run, alter the profile of Brazil's energy matrix, which is currently poor in gas.

"It is important, however, to remember that these volumes lie near the large petroleum consumption centers - the Rio-São Paulo circuit, which consumes a large part of Brazil's diesel fuel. As we know, a good part of this diesel fuel, especially in the areas of urban transportation and industry, can be substituted by natural gas."

Estrella also recalled that the company is investing US$ 1.1 billion to improve the Northeast/Southeast gas pipeline network, which will also contribute to a speedier commercialization of the new reserves. Petrobras's director of Exploration and Production guaranteed that the company intends to drill some more wells in the Santos Basin, since it believes in the possibility that more gas exists in the locale. (DAS)