In 2009, facing the changes in the international scenario and the impacts generated by the discovery of the Brazilian pre-salt in the previous year, a new strategic positioning was designed for the PETROBRAS International Business Area. This new positioning is grounded in the concepts of profitability, integration and complementarity with the company national activities. In this sense, to ensure a greater strategic alignment, integration and complementarity within its activities, the International Area started the development of Business Models for each of its axis of action. The Business Models are a tool that aims to assist in the planning of the company and describes the way the company operates through the definition / identification of its customers, the statement of the value that is delivered to them, the definition of the form in which this value is delivered and the quantification of the costs and benefits expected. The goal of this dissertation is to show how these Business Models are being implemented and to verify whether they are appropriate to analyze the strategies of the company. The methodology adopted was action research, in which the author is part of the project, and is involved both in its execution while develops knowledge.