Petrobras to Replace Equipment at Tupi Test Well

Petrobras has detected a manufacturing issue with the fixation bolts used in the Wet Christmas Tree (a submarine well flow control device) at well 3-RJS-646, which had been performing the Extended Well Test (EWT) in the Tupi Area, in the Santos Basin's Pre-Salt Cluster, operated by Petrobras (65%) in partnership with BG Group (25%) and Galp-Energia (10%).

A submarine inspection did not detect any oil leak or damage to the equipment. Preventively, pursuant to its Safety, Environment and Health policy, the Company decided to immediately replace the Wet Christmas Tree and Adaptor Base.

The well was closed for the operation to be carried out, and the EWT will be continued after the replacement has been completed.

The results obtained via the EWT thus far, have been in line with the expectations of the Company and will be valuable to define the development plan for the area and, particularly, to provide information about the long-term behavior of the reservoirs in production, about fluid
movement and drainage during production, and about submarine outflow.

Petrobras emphasizes that the issue in question is unrelated to aspects concerning field production or the technology and does not have impact in the development of the Santos Basin's Pre-Salt Cluster.

Tupi is in the Santos Basin's BM-S-11 block, which is also home to the Iara finds. The two fields are estimated to hold recoverable reserves of between 8 billion and 12 billion barrels of oil equivalent.