Petrobras, further to the Press Release disclosed on 1/25/2018, reports that its Board of Directors has approved, at a meeting held today, the company’s participation in the Oil and Gas Climate Initiative (OGCI). This is one of the main initiatives of the oil and gas sector to reduce and capture greenhouse gas emissions.

The initiative gathers ten of the world’s largest oil and gas companies, which together represent more than 25% of the global production. The main objective of the OGCI, a group led by the CEOs of BP, Petrobras, CNPC, Eni, Pemex, Repsol, Saudi Aramco, Shell, Statoil and Total, is leading the industry response to climate change.

The commitment provided by OGCI Climate Investments, the initiative’s investment arm, to support the development, deployment and expansion of low-emission technologies is US$ 1 billion over the next ten years, with the disbursement distributed equally among all OGCI members during this period.

The participation in OGCI is aligned to Petrobras’ strategy to prepare the company for a future based on a low carbon economy, as disclosed in its 2018-2022 Business and Management Plan, and reinforces the company's commitment to reduce emissions and to a more efficient energy matrix.)

About Petrobras

We have upwards of 100 production platforms, 16 refineries, 30,000 kilometers of pipelines and more than 6,000 service stations. Our proved reserves are around 14 billion barrels of oil, a figure expected to double in the next few years. With the discovery of oil and gas in the pre-salt region, Brazil may become the world's fourth biggest oil producer in 2030.

We have built a track record of overcoming challenges since 1953, when the company was created. The main one was developing technology to explore and produce oil in deep and ultra-deep waters, where upwards of 90% of our reserves are nestled. With innovation and daringness, we are now the Brazilian company that makes the applies for the most patents in Brazil and abroad.