Exercise of Pre-emption Right in the Fourth Bidding Round of areas under
Production Sharing Regime

Rio de Janeiro, December 14, 2017 - Petróleo Brasileiro SA - Petrobras reports
that today it submitted to the National Energy Policy Council (CNPE) an
expression of interest to exercise the pre-emption right for the 4th Bid Round
of Exploration Block under the production sharing regime, pursuant to Law
12,351/2010 and Federal Decree 9,041/2017.

Considering the parameters disclosed in CNPE Resolution no. 21 of 2017, after
technical analysis, approval by the Executive Board and resolution within the
Board of Directors, Petrobras decided to express interest in exercising the
pre-emption rights in the following areas, with the minimum percentage of 30% in
each area, focusing on maximizing the value of its portfolio: Dois Irmãos, Três
Marias and Uirapuru.

The amount corresponding to the signature bonus to be paid by the company,
considering the auction results confirm the minimum stake indicated above in
each block, is R$ 945 million.

Petrobras' position in these bidding processes is in line with the fundamentals
of its Strategic Plan, which provides for the sustainability of oil and gas
production, with the continuation of the exploration portfolio strengthening and
partnerships.

It is important to note that Petrobras may increase the percentage of 30%
indicated for the areas where it is exercising its pre-emption rights, forming
consortiums to participate in the bidding processes.

In relation to the areas in which Petrobras has not exercised its pre-emption
right, the company may participate on an equal basis with other bidders, whether
acting as operator or non-operator.

With the conclusion of this round, which might take place in June 2018, the
company will timely communicate to the market the results of its participation,
in compliance with current legislation.


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www.petrobras.com.br/ir
Contacts:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations Department | e-mail:
petroinvest@petrobras.com.br
Av. República do Chile, 65 – 10th floor, 1002 – B – 20031-912 – Rio de Janeiro,
RJ | Phone: 55 (21) 3224-1510 / 3224-9947

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