Petrobras Approves Acquisition of Petrobras Energia Peru

Petrobras has approved the acquisition of 60% of the capital stock of Petrobras de Valores Internacional de Espana S.L ("PVIE") from Petrobras Energia S.A. ("PESA"), through its Dutch subsidiary, Petrobras International Braspetro ("PIBBV"), in the amount of US $619 million. After the execution of the transaction, PVIE will be a wholly owned subsidiary of PIBBV.

PVIE owns 99,97% of Petrobras Energía Perú S.A., that has the concession in the Block X in the Talara Basin with a production of 16 thousand boe/day. Petrobras Energía Perú S.A. is also exploring other five blocks.