Rio de Janeiro, Sep 11 (EFE).- Brazilian oil giant Petrobras said it planned to invest $15 billion over the 2008-2012 period in priority areas abroad, such as the Gulf of Mexico, the United States and Argentina.

The state-controlled company's five-year business plan calls for putting $10.5 billion into exploration and production projects, Petrobras foreign operations chief Nestor Cervero said.

"Priority will be given to projects in Latin America, West Africa and the Gulf of Mexico," Cervero said during a press conference held to unveil the new business plan.

Petrobras plans total investment in its operations of $112 billion over the five-year period and wants to become one of the top five energy companies in the world.

The business plan sets a goal of increasing production to 3.05 million barrels per day equivalent (bpde) of oil by 2012, or about 50 percent more than the 2.05 million bpde output achieved in 2006.

By 2015, Petrobras projects total output of 3.45 million bpde of oil, with foreign production reaching 436,000 bpde of crude, liquefied natural gas and natural gas in 2012 and rising to 698,000 bpde of oil three years later.

Petrobras plans to invest $3.7 billion, or 25 percent of the total, in foreign refining, transportation, marketing and petrochemical operations, Cervero said.

Some $4.9 billion, or nearly one-third of the total planned foreign investment, will go into projects in the United States, with ventures in Argentina, Nigeria and Angola following in order of importance.

Petrobras, whose shares are listed on the Sao Paulo, Buenos Aires, Madrid and New York stock exchanges, has some 52,000 employees and posted revenues of $74 billion last year, making it one of the largest oil companies in the world. EFE

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