We are negotiating the sale of the Baúna and Tartaruga Verde fields

We have started negotiations with Karoon Gas Australia Ltd for the sale of stakes in the Baúna and Tartaruga Verde fields. The potential transaction considers the sale of 100 percent of our stakes in the Baúna field, located in shallow waters in the Santos Basin post-salt region, and of half of our interests in the Tartaruga Verde field, which is in deep waters in the Campos Basin post-salt area. We will continue as the operator of this field.

The Baúna field has been in operation since February 2013, and currently produces about 45,000 bbl/day. The Tartaruga Verde field is at its early stages of development, with significant investments yet to be made.

Karoon Gas Australia Ltd is an Australian energy company holding interests on the global Oil and Gas market. Its main assets are located in Australia, Brazil, and Peru. Karoon currently holds five E&P concessions in Brazil.

The transaction is still subject to the negotiation of its final terms and conditions, to the approval of the competent Petrobras and Karoon bodies, and to approval of the Administrative Council for Economic Defense (CADE) and of the National Petroleum Agency (ANP).

The Baúna and Tartaruga Verde field sale project, carried out through a bidding process, is part of our 2015-2016 Divestment Plan.

Facts deemed material to the subject will be disclosed to the market in a timely manner.


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