Petrobras Sale of Concessions in the Deepwater Sergipe Basin: Opportunity Disclosure – Teaser

Rio de Janeiro, May 23, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that it has started the opportunity disclosure stage (“Teaser”) of the process related to the partial sale, without transfer of operatorship, of its exploration, development and production rights in four concessions located in the Deepwater Sergipe-Alagoas Basin, as per table below:

Petrobras is the operator of all these concessions in which, to date, there have been six discoveries of light oil and gas: Barra, Farfan, Muriú, Moita Bonita, Poço Verde and Cumbe. The expectation of Declaration of Commerciality is for the second semester of 2020.

The Teaser containing key information about the opportunities, as well as the objective criteria for the selection of prospective purchasers, is available on Petrobras’ website: http://www.investidorpetrobras.com.br/en/press-releases.

Besides the Teaser, the main subsequent phases of each divestment project will be disclosed, as detailed below:

•    Start of the non-binding phase (if applicable);
•    Start of the binding phase;
•    Granting of exclusive negotiation (if applicable);
•    Transaction approval by Senior Management (Executive Board and Board of Directors) and signature of contracts;
•    Closing.

The disclosure to the market herein is in compliance with Petrobras’ divestment methodology and is aligned with the provisions of the special procedure for the sale of exploration, development and production of petroleum, natural gas and other fluid hydrocarbons rights, provided for in Decree 9.355/2018.

This material is being provided pursuant to Brazilian regulatory requirements, does not constitute an offering, under the U.S. securities laws, and is not a solicitation, invitation or offer to buy or sell any securities. The information on our website, which is accessible through hyperlink resulting from this URL, is not and shall not be deemed part of this report on Form 6-K.

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