Rio de Janeiro, July 22, 2016 – Petróleo Brasileiro S.A. (Petrobras) announces that at a meeting held today, its Board of Directors approved a reassessment of its Rio de Janeiro Petrochemical Complex (COMPERJ) project. This decision will enable the continuation of activities to implement COMPERJ units associated with its natural gas processing unit.

The natural gas processing unit is part of the Route 3 Integrated Project, which also includes Gas Pipeline Route 3, a supplementary gas treatment plant at Cabiúnas Terminal, and the Route 3 Northern Pipeline segment. Together, these facilities will be part of the infrastructure needed to transport and process natural gas from the pre-salt layer of Santos Basin.

The Board of Directors also approved the postponement of investments and the preservation of equipment at other units of Refinery Section 1 until December 2020, and it called for continued efforts to seek partners to proceed with these investments. The Refinery Section 2 and Lubricant Unit projects at COMPERJ have been cancelled.

COMPERJ is located in the municipality of Itaboraí, in the state of Rio de Janeiro.

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