Rio de Janeiro, October 28, 2016 – Petróleo Brasileiro S.A. – Petrobras, pursuant to the material fact published on July 27, 2016, hereby announces that it has concluded all the steps of the transaction for the sale of the 67.19% interest in Petrobras Argentina (PESA), held through Petrobras Participaciones S.L. (PPSL), to Pampa Energía, with the acquisition of 33.6% of the Rio Neuquen concession, in Argentina, and 100% of the Colpa Caranda asset, in Bolivia, for the amount of US$ 56 million, after adjustments.

The Rio Neuquen and Colpa Caranda assets are strategic for Petrobras