Divestment project of shallow water assets


Rio de Janeiro, January 23, 2017 – Petróleo Brasileiro S.A. – Petrobras informs
that a Regional Federal Court issued a decision on January 18, 2017 to grant
suspensive effect to Petrobras' appeal in the divestment project regarding the
transfer of rights in a set of shallow water fields, located in the states of
Sergipe and Ceará, as announced on July 04, 2016.

With the favorable decision of the Court, Petrobras may continue with this
divestment project. The company, however, will only be able to sign an agreement
after the Brazilian Federal Accounting Court (TCU) merit decision regarding the
required adjustments requested by this authority over Petrobras’ divestment
process.

Petrobras reiterates that is working on improving its divestment processes with
the purpose of adjusting them to TCU's determinations and expects to conclude
this reformulation, in the shortest time possible, with the appreciation of that
Court, without changing Petrobras’ divestments and partnerships targets included
in the Strategic Plan/ 2017-2021 Business and Management Plan.

Other facts deemed relevant will be timely communicated to the market.



_________________________________________________________________________________
www.petrobras.com.br/ir
Contacts:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations Department I 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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