Petróleo Brasileiro S A Petrobras : Petrobras on FPSO Mero 4 November 29, 2021

Petrobras on FPSO Mero 4

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Rio de Janeiro, November 29, 2021 - Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 08/02/2021, informs that it signed today contracts with the company SBM Offshore for the chartering and provision of services of the FPSO Alexandre de Gusmão, the fourth definitive system to be installed in the Mero field, located in the pre-salt of the Santos Basin. The contracts follow the same parameters of the letter of intent signed in August of this year. The unit is expected to start production in 2025.

The FPSO, which stands for floating production, storage, and oil transfer unit, will be installed approximately 160 kilometers from Arraial do Cabo, in Rio de Janeiro, and will be capable of processing 180 thousand barrels of oil and 12 million cubic meters of gas per day. The contracts will last for 22 years and 6 months from the unit's final acceptance.

The project foresees the interconnection of 15 wells to the FPSO, 8 of which are oil producers, 6 water and gas injectors, 1 convertible well from producer to gas injector, through a subsea infrastructure composed of rigid production and injection pipelines and flexible service pipelines. To date, the project has had 4 wells drilled and 2 completed.

The contracts reinforce Petrobras' performance in partnership in the E&P area with a focus on deep and ultradeep waters. The company continues to operate efficiently and competitively, maximizing the potential of its assets and promoting more return for the company and the society.

About Mero Field

The Mero field is the third largest in the pre-salt and is located in the Libra area, operated by Petrobras (40%) in partnership with Shell Brasil Petróleo Ltda. (20%), TotalEnergies EP Brasil Ltda. (20%), CNODC Brasil Petróleo e Gás Ltda. (10%), CNOOC Petroleum Brasil Ltda. (10%) and Pré-Sal Petróleo S.A. (PPSA), which is the manager of this contract.

Production of the first definitive Mero system (Mero 1) is scheduled to start in 2022, through FPSO Guanabara, followed by Mero 2 (FPSO Sepetiba), in 2023, and Mero 3 (FPSO Marechal Duque de Caxias), in 2024.

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For more information:

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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.