Petróleo Brasileiro S A Petrobras : Petrobras acquires one block in the 6th PSC bidding round

Petrobras acquires one block in the 6th PSC bidding round

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Rio de Janeiro, November 7, 2019 - Petróleo Brasileiro S.A. - Petrobras reports that the consortium in which will be the operator, holding 80% of work interest, in partnership with CNODC Brasil Petróleo e Gás Ltda. has acquired one offshore block in the 6th bidding round under the Production Sharing Contract (PSC), held today by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

The consortium offered the minimum profit oil of 29.96%. The total amount of the signature bonus to be paid by the company still in 2019 is R$ 4.04 billion. The table below summarizes the result of Petrobras' participation in the 6th ANP bidding round under the PSC, in which Petrobras is the operator:

Sedimentary

Consortium

Governments'

Bonus

Block

Petrobras' Share

Basin

Composition

Profit Oil Share

(R$)

Santos

Aram

Petrobras 80%

29.96%

4,040,000,000.00

CNODC 20%

The company is maintaining its selective strategy in bid rounds, focusing in world class deep and ultra-deep water exploration and production assets.

The acquisitions materialized in the Transfer of Rights Surplus bidding round yesterday and in the 6th PSC bidding round today significantly enhanced the Company reserves' replacement.

www.petrobras.com.br/ri

For more information:

PETRÓLEO BRASILEIRO S.A. - PETROBRAS | Investors Relations email: [e-mail]/[e-mail] Av. República do Chile, 65 - 1002 - 20031-912 - Rio de Janeiro, RJ. Tel.: [phone]/9947 | 0800-282-1540

This document may contain forecasts within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Trading Act of 1934, as amended (Trading Act) that reflect the expectations of the Company's officers. The terms: "anticipates", "believes", "expects", "predicts", "intends", "plans", "projects", "aims", "should," and similar terms, aim to identify such forecasts, which evidently involve risks or uncertainties, predicted or not by the Company. Therefore, future results of the Company's operations may differ from current expectations, and the reader should not rely solely on the information included herein.