First Oil Flows from 7-SPH-04-SPS Well in Sapinhoa Field in Santos Basin

Two Other Buoys will be Installed in the First Half of the Year

Operations to interconnect the third buoy in Sapinhoa field are ahead of schedule. The buoy is already submerged and attached to its foundations. Installation work will be completed this quarter.

The fourth and last buoy, designed for Lula field, is already on site and is currently in the initial installation phase, according to schedule. Installation is also expected to be completed this quarter.

Sapinhoa field is operated by Petrobras (45 percent), in partnership with BG E&P Brasil Ltda (30 percent) and Repsol Sinopec Brasil S.A. (25 percent).

Lula field is operated by Petrobras (65 percent), in partnership with BG E&P Brasil Ltda (25 percent) and Petrogal Brasil S.A. (10 percent).

New Monthly Production Record in the Pre-Salt

Petrobras also announces that its pre-salt oil production (including Petrobras’ share and that of its partners) averaged 387,000 bopd in March, a new monthly output record. With this volume, Petrobras has surpassed the previous record of 385,000 bopd set in February.