Rio de Janeiro, September 15, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 354/2015/CVM/SEP/GEA-1, which requests the following clarifications:

Official Letter 354/2015/CVM/SEP/GEA-1

“We report hereby to the to the above Official Letter, we request that you verify about the news that appeared in September 6, 2015 edition of the newspaper Folha de São Paulo, entitled “PASADENA 2.0”, which contained statements about the possibility of rental contract of 19 rigs for 15 years, for about US$ 40 billion, higher price than the market for more modern material.

In this regard, we consider that the information provided by you, in a notice to market on 09.09.2015, do not meet the made questions for this area technique, as they do not confirm or refute, a clear and objective manner, truthfulness of the statements in question.

(…)

For these reasons, we reiterate the determination of compliance with the terms of the Letter No.347/2015/CVM/SEP/GEA-1 from 09.08.2015.”

Clarification

Petrobras has not confirmed that it is ready to sign a rental contract of 19 rigs for 15 years, with the amount of US$ 40 billion.

As disclosed to the market on September 9, 2015, Petrobras has currently 28 drilling rigs charter contracts with Sete Brazil. The value of these contracts, signed in June, 2011 (7 rigs) and in August, 2012 (21 rigs), is US$ 89 billion dollars for a period of 10 years (5 rigs), 15 years (21 rigs) and 20 years (2 rigs).

There are ongoing negotiations for a possible number adapting of drilling rigs already hired, as requested by Sete Brasil.

The Company refutes the claim that it was “trampling technical areas and even part of its Executive Board”and reiterates that possible approval of the revision of the contracts will be subject to compliance with Petrobras’ corporate governance and conformity regulations, as well as the approval by its competent bodies.

Facts deemed material concerning this matter will be disclosed to the market in a timely manner.