Petrobras Signs Seven Vessel Contracts

Petrobras signed, through its wholly owned subsidiary Petrobras Transporte SA - Transpetro, seven contracts for the build of new vessels to be chartered for the Company for 15 years. The contracts are part of the program called Brazilian Shipping Companies (BSC), and are added to the other 12 vessels hired last year, as announced on December 4, 2009.

Kingfish do Brasil Navegação Ltda. will build three vessels of 45,000 deadweight tons (DWT) for dark petroleum products, while Pancoast Navegação Ltda. will build four 30,000-DWT vessels, two for light and two for dark products.