Petroleo Brasileiro SA Petrobras Investor Day - London Transcript

Dec 06, 2019 / 12:00PM GMT
Roberto da Cunha Castello Branco - Petróleo Brasileiro S.A. - Petrobras - CEO, President & Director

We are delighted to have you here with us for the Petrobras Day in London. We welcome you. We have a short film before initiating the presentations.

(presentation)

Roberto da Cunha Castello Branco - Petróleo Brasileiro S.A. - Petrobras - CEO, President & Director

Well, let's start our presentations today. Since the early days of this year, we put in place a transformation agenda underpinned by 5 strategic pillars. Why 5? Because it's a small number, it's easy to remember, and it becomes on the mind of everybody in the company.

First is to maximize return on capital employed. The idea is to focus only on the assets in which we are the national owners, those assets we can extract the maximum return possible. This means to focus on exploration and production of oil and natural gas in deep and ultra-deep waters. Petrobras has all the competitive advantage in these activities. We have some of the best oil engineers and geologists in the

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