Petrobras Material Fact – Assignment of participation in 34 terrestrial fields in Rio Grande do Norte

Rio de Janeiro, November 28, 2018 – Petróleo Brasileiro SA – Petrobras informs that the Board of Directors approved, yesterday, the assignment of its total participation in 34 terrestrial production fields, located in the Potiguar Basin, in the state of Rio Grande do Norte , to the company 3R Petroleum.

The assets

The 34 concessions are mature fields in production for more than 40 years, with wide geographic dispersion, located about 40 km south of the city of Mossoró-RN. The fields were assembled in a single package called Polo Riacho da Forquilha, whose current production is about 6 thousand barrels of oil per day. The package list below follows:

Acauã (AC), Asa Branca (ASB), Baixa do Algodão (BAL), Boa Esperança (BE), Baixa do Juazeiro (BJZ), Brejinho (BR), Cachoeirinha (CAC), Cardeal (CDL), Colibri (CLB), Fazenda Curral (FC), Fazenda Junco (FJ), Fazenda Malaquias (FMQ), Jaçanã (JAN), Janduí (JD), Juazeiro (JZ), Lorena (LOR), Leste de Poço Xavier (LPX), Livramento (LV), Maçarico (MRC), Pardal (PAR), Patativa (PAT), Pajeú (PJ), Paturi (PTR), Poço Xavier (PX), Riacho da Forquilha (RFQ), Rio Mossoró (RMO), Sabiá (SAB), Sabiá Bico de Osso (SBO), Sabiá da Mata (SDM), Sibite (SIB), Três Marias (TM), Trinca Ferro (TRF), Upanema (UPN) and Varginha (VRG).

All concessions are 100% Petrobras, with the exception of the Cardeal and Colibri fields, where Petrobras holds a 50% stake, with Partex as operator with a 50% stake, and Sabiá da Mata and Sabiá Bico-de-Osso fields where Petrobras has a 70% interest, with Sonangol as a partner and operator with a 30% stake.

The transaction

The value of the transaction is US $ 453.1 million, of which 7.5% (US $ 34 million) to be paid upon signature, scheduled for 07/12, and the balance at the close of the transaction, considering the adjustments due.

3R Petroleum will start to operate the assets as of the closing of the transaction, which is subject to the signing of the contracts, to the fulfillment of the conditions precedent provided in the contract of sale, such as the approval of the National Agency of Petroleum, Natural Gas and Biofuels (ANP) and eventual preemptive rights.

This project was the result of a competitive process and is part of Petrobras’ Partnerships and Divestments Program, in line with the Business and Management Plan 2018-2022, which provides for the continuous portfolio management, focusing on deepwater investments in Brazil.

The present disclosure to the market is in line with Petrobras’ Disinvestment System and in line with the provisions of the special procedure for the assignment of rights to explore, develop and produce oil, natural gas and other fluid hydrocarbons, provided for in Decree 9.355 / 2018.

About 3R Petroleum

3R Petroleum is a Brazilian oil and gas company focused in Latin America. This will be the first operation of 3R Petroleum and the company meets the requirements to be a C Operator in Brazil according to ANP criteria.

In its staff, 3R Petroleum has executives with extensive experience in mature field operations and increased production and reserves in countries such as Venezuela, Argentina, Brazil, Peru, Ecuador and Bolivia. It also has, in its financial structuring, the partnership of large global companies, such as a world-class trading company, an international oil services company and an independent operator.

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