Petro Rio S.A. HRTPF

Coninued Two

[Debora]

HRT operates the Polvo field seven months ago and, thanks to him, produced 10,093 barrels of oil per day in June, which guaranteed a net income of R $ 138 million in the second quarter. The company made ​​a profit of £ 11 million in the interval when the same quarter last year posted a loss of £ 645.2 million.This removed some of the pressure of being an exploitative company much risk, high costs and no production.The company is awaiting approval from the National Petroleum Agency (ANP) to complete the acquisition of 40% of Maersk in Polvo field, which will make the owner of 100%. The purchase price has not been disclosed, but will be known when the deal is completed, according to Chief Financial Officer Ricardo Dourado Bottas. For comparison, 60% of bought cost BP $ 135 million in December last year.With an almost zen style compared to the exuberance of his predecessor, Franke explains the projects that, in his words, are making the HRT a company more "hands on" lean and "pacified", since he assumed the presidency on 13 May 2013 Since then, the shares were up 71%.

One of economies Franke mention is the removal of the car and driver for the company's president. The luxurious floor in a building now occupied high standard of beachfront on Atlantic Avenue in Copacabana, will be exchanged for a new office in Botafogo, also in the South Zone of Rio, but that can be considered a more modest neighborhood compared with the current site. Meetings there came to be in Portuguese, another change.