Petrobras, the Brazilian national oil company, is pushing ahead with plans to invest in Brazil’s newly discovered pre-salt oil deposits in spite of market conditions that have raised doubts over its ability to secure finance.

The company’s strategic plan for 2009-2013 – revealed on Friday after months of delays caused by the global credit crisis and volatile oil prices – calls for investment of $174.4bn, a substantial increase on the $112.4bn stated in its 2008-2012 plan.