Rio de Janeiro, October 23, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that, continuing the operation announced on September 22, 2015, its Board of Directors, in a meeting held today, approved the sale to Mitsui Gás e Energia do Brasil Ltda of 49% of Petrobras Gás S.A. (Gaspetro), holding company that consolidates the interests of Petrobras in the Brazilian state-owned natural gas distributors.

The total amount of the transaction is R$ 1.9 billion, which represents the value in the transaction closure date, scheduled for December 2015.

Mitsui Gás e Energia do Brasil is a wholly-owned subsidiary of Mitsui & Co., Ltd. (Japan) and has already equity interests in eight Brazilian state-owned natural gas distributors.

This transaction, performed through a competitive process, is part of the Divestment Program envisaged in the 2015-2019 Business and Management Program.

The conclusion of the transaction is subject to the usual conditions precedent, including approval by the competent authorities.