Carlos Alberto Oliveira takes over from Solange Guedes in the operational management of the state-owned company's Exploration and Production department

Petrobras CEO Roberto Castello Branco has appointed experienced production manager Carlos Alberto Oliveira as exploration and production director, replacing Solange Guedes. The appointment surprised the market, as Castello Branco had announced several changes to the board of directors shortly after taking up his position last week.

Guedes, whose performance as a top executive has been considered solid and uninspiring, will move to the second floor and take a seat on Petrobras' supervisory board.

Oliveira, whose appointment must still go through an internal approval process, is highly respected both within Petrobras and among international oil companies.

he was a leading figure in the rise of brazilian major to become one of the main producers in deep waters, with award-winning projects in the Campos Basin.

Carlos Alberto Oliveira's profile

Oliveira has a background in mechanical engineering, but is also qualified for graduate studies in finance and investment analysis.

He served as Petrobras' general manager for E&P from 1999 to 2002, but was transferred to Argentina when the new Workers' Party government opted for broad managerial changes at the company.

He was brought back into the heart of Petrobras management in 2012, becoming responsible for production development, then moving on to assume responsibility for strategy and, more recently, portfolio management.

He is likely to increase the focus on investment efficiency, as proposed by Castello Branco.