Petrobras intends to invest US$56 billion over next five years

21/08/2005 - 10h40

Nielmar de Oliveira
Reporter Agência Brasil

Rio - Petrobras, Brazil's state-run oil giant, has just released a five-year investment plan, for the period 2006-2010, in which it says it intends to invest a total of US$56.4 billion, of which 65% will be in Brazil, and create 419,000 direct and indirect jobs.

The new plan also maintains the previously established goal of achieving production levels of the equivalent of over 2.8 million barrels of petroleum and natural gas daily by 2010.

Brazil is scheduled to balance its domestic demand and supply of petroleum, making the country self-sufficient, next year (in 2006).

Translator: Allen Bennett