Offshore Activity

Petrobras – Clarifications on the discovery in Albacora, at the Campos Basin

10/03/2016

Rio de Janeiro, October 3, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby clarifies that the discovery of a pre-salt reservoir in the Albacora concession of the Campos Basin, as was reported by the newspaper O Globo on October 3, 2016, occurred in April 2011 with the drilling of the well 6-BRSA-899D-RJS (6-AB-119D).  The ANP was notified of the discovery on April 27, 2011, and the market was notified April 28, 2011 (see the company’s website for a copy of the release).

On August 2012, a Discovery Assessment Plan (PAD) was submitted to the Agência Nacional de Petróleo, with the prevision of a Long Term Test for the year of 2017 as a commitment of the PAD.

The assessments will continue until there is sufficient information to determine whether or not the company will submit a Declaration of Commercial Viability.

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