Petrobras Restarts Extended Well Test at Tupi

Petrobras announced that oil and natural gas production has been resumed for the Extended Well Test (EWT) for the Tupi Area, in the Santos Basin's Pre-Salt Pole, on September 5. Well 3-RJS-646 was closed in early July 2009 for the replacement of the Wet Christmas Tree (a submarine well flow control device) and went back into normal production. The device was replaced successfully in less than two months, in full compliance with the Company's strict health, safety and environmental policies (HSE). The return was much faster than the initial estimates of up to 4 months.

With the resumption of the EWT, the Company will continue collecting important data in order to get to know the long-term behavior of the reservoirs that are in production, to learn how fluid will move and drain during production, and it will gather information about submarine outflow, fundamental knowledge to prepare the development plan for the Santos Basin's Pre-Salt Pole area.

The Tupi area is operated by Petrobras (65%) in partnership with BG Group (25%) and Galp Energia (10%).