Petrobras informs it has submitted a declaration of interest for exploratory blocks on the offshore areas of the Ivory Coast, a country located on the west coast of Africa.

The Ivory Coast government, through its Council of Ministers, approved Petrobras' declaration of interest for nine blocks. This is the first phase in the acquisition process for exploratory areas in the Ivory Coast, which is then followed by contractual negotiations of the exploratory blocks. The purpose of the declaration is to ensure exclusivity in the contractual negotiation phase.

Petrobras highlights that the decision to submit the declaration of interest to the Ivory Coast government complied with all of the company's internal governance procedures, in line with its long-term strategy, which is aimed at replenishing oil and gas reserves by exploring new frontiers, both in Brazil and internationally. The evaluation of new areas is targeted at diversifying the Company’s exploratory portfolio and generating value.

About Petrobras

Petrobras has 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.