Petrobras – Clarification on News: Divestments in Pre-Salt areas

Petrobras – Clarification on News: Divestments in Pre-Salt areas

Rio de Janeiro, May 5th, 2015 – Petróleo Brasileiro S.A. – Petrobras´ response to Official Letter BM&FBovespa 1.634/2015-SAE that requests clarification as follows:

OFFICIAL LETTER 1.634/2015-SAE

“An article published by Agência Estado – Broadcast, on May 5th, 2015,  states, among other information, that Petrobras has plans to divest in some Pre-Salt areas and that the company has in its portfolio  at least 12 areas that are being targeted by international oil companies by 2016.

We request clarification regarding the news’ content as soon as possible, as well as other relevant information.”

Clarification

As announced in the Material Fact disclosed on 03/02/15, Petrobras approved a divestment plan of US$ 13.7 billion for 2015 and 2016.

The divestment portfolio is dynamic, as development of the transactions is subject to negotiating and market conditions.  Therefore, the list of opportunities for sale may change due to market conditions and ongoing analysis of the company’s business.

As announced in the Material Fact disclosed on 04/17/2015, Pre-salt assets in production are not included among the upstream assets of this divestment plan.

Petrobras is unware that “12 areas are being targeted by international oil companies by 2016 “.