Petroleo Brasileiro Petrobras : Petrobras releases teaser for sale of E&P assets in the Recôncavo Basin

Petrobras releases teaser for sale of E&P assets in the Recôncavo Basin

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Rio de Janeiro, September 30, 2019 - Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (Teaser) regarding the sale of the totality of its interests in eight onshore exploratory blocks located in the Recôncavo Basin, State of Bahia.

The Teaser, which contains key asset information and eligibility criteria for selection of potential participants, is available on Petrobras website: https://investidorpetrobras.com.br/en/results-and-notices/teasers

Subsequent stages of the project will be reported to the market in due course.

This release complies with Petrobras' divestment methodology and is in line with the provisions of the special procedure for the sale of the rights to exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.

This operation is in line with the company's portfolio optimization and improvement of capital allocation.

About the exploratory blocks

The eight onshore exploration blocks comprise the concessions REC-T-32_R12,REC-T-40_R12,REC-T-50_R12,REC-T-51_R12,REC-T-52_R12,REC-T-60_R12,REC-T-61_R12 and REC-T- 70_R12. The blocks are located in an area with deployed infrastructure and a proven oil system, close to fields in production. Petrobras holds 100% interest in these eight concessions. Offers must be submitted by block.

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 is not and shall not be deemed part of this report on Form 6-K.

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.