Settlement of the Second Installment of the Sale of Exploratory Block BM-S-8

03/21/2018

Rio de Janeiro, March 21, 2018 - Petróleo Brasileiro S.A. - Petrobras informs that it has received today the second installment, in the amount of US$ 300 million, related to the sale of its stake in the exploratory block BM-S-8 to Statoil Brasil Óleo e Gás Ltda., closed on November 22, 2016.

The settlement of this second installment was conditional on the execution of the Norte do Carcará block sharing agreement, awarded by the National Petroleum, Natural Gas and Biofuels Agency (ANP) in January 2018.

Petrobras had already received the first installment settled by Statoil, in the amount of US$ 1.25 billion, upon the closing of the transaction. Thus, the total amount received so far for the operation amounts to US$ 1.55 billion. The remaining amount, which will complement receipt of the US$ 2.5 billion total operation value, will be settled through a last contingent payment related to the execution of the Production Individualization Agreement (unitization).