Petrobras Postpones Bid Offer for Mature Fields

Petrobras advises that the Public Act for the submittal of offers related the Call for Bid E&P-CORP # 001/2002, concerning the full assignment of the exploration rights, development and production of oil and natural gas and related assets, of the BA2A, BA3A, BA4, BA5, BA6 and SE1A mature field groups, original scheduled for February 18, 2003, has been transferred to April 8, 2003.

The postponement resulted from the need to analyze the effect on minimum prices of the new criteria for the full assignment of rights related to the mature fields, as recently defined by ANP.

Petrobras will inform the bidding companies if any alteration will be required in the Bid, particularly related to the minimum prices disclosed.