Petrobras and partners start production in Libra


Rio de Janeiro, November 27, 2017 – Petróleo Brasileiro S.A. – Petrobras and its
partners inform that this Sunday (11/26/2017) they started oil production in
Libra block, in the Pre-salt of Santos Basin, with the beginning of operation of
Pioneiro de Libra FPSO (Floating Production Storage and Offloading unit),
dedicated to Extended Well Tests and Early Production Systems. This is the first
Petrobras unit equipped to reinject all the gas produced during the tests.

Pioneiro de Libra has a daily operational capacity rate up to 50,000 barrels of
oil and 4 million cubic meters of associated gas. With an expected one-year
term, the goal of this production test is to evaluate the dynamic behavior of
the oil reservoir and deepen the knowledge on the characteristics of the
deposit.

Upon the completion of this first test, the Pioneiro de Libra FPSO will be moved
to operate Early Production Systems in other Libra wells. The objective will be
to increase the knowledge of the reservoir and also to support the development
and optimization of all subsequent production units to be installed in the area.

Until now, 12 wells were drilled in Libra block. Because of its extension, high
production potential, good quality of its oil and high commercial value, Libra
opens a new business opportunity to the offshore industry.

Libra Consortium is led by Petrobras – with a 40% interest – in partnership with
Shell (20%); Total (20%), CNPC (10%) and CNOOC Limited (10%). The consortium
also has the participation of the state-owned company Pré-Sal Petróleo SA (PPSA)
as manager of the Production Sharing Agreement.


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www.petrobras.com.br/ir
Contacts:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations Department | e-mail:
petroinvest@petrobras.com.br
Av. República do Chile, 65 – 10th floor, 1002 – B – 20031-912 – Rio de Janeiro,
RJ | Phone: 55 (21) 3224-1510 / 3224-9947

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