Established in 1953, Petrobras is a publicly traded company with a presence in 25 countries. The company's business interests focus on integrated and specialized energy exploration and production, refining, marketing, transportation, petrochemicals, oil distribution, natural gas, electric power and biofuels. With a fully developed operational infrastructure, the company currently operates most of Brazil's oil and gas fields, and has a large base of proven reserves. In 44 years of developing Brazil's offshore basins, Petrobras has developed special expertise in deepwater exploration and production, holding a substantial share of Brazil's total refining capacity. As the largest deepwater operator worldwide, the company's oil and gas discoveries in the Pre-Salt layer opened a new frontier in the sector, with the potential to put Brazil among the countries with the highest oil and gas reserves.