Rio de Janeiro, February 2nd, 2015 – Petróleo Brasileiro S.A.

– Petrobras announces that it has confirmed the extension of the light oil and gas discovery, as announced to the market on August 9, 2013, by drilling the third extension well in ultra-deep waters of Sergipe Basin’s Farfan area.

Drilling activities have also detected the presence of a new, shallower, 68-meter thick light oil-bearing reservoir.

Well 3-SES-186 (Petrobras nomenclature) / 3-BRSA-1286-SES (ANP nomenclature) is located 103 km from the city of Aracaju and 10 km from discovery well, at a water depth of 2,467 meters.

Well drilling is set to continue until reaching the total depth of 6,060 meters.

This accumulation is part of the Sergipe-Alagoas Basin ultra-deep water exploratory project, as provided for in the 2014-2018 Business and Management Plan.

Petrobras, consortium operator (60%) in partnership with IBV-BRASIL (40%), will proceed with the activities outlined in the Discovery Evaluation Plan (DEP), as approved by Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP).

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The forward-looking statements, which address the Company’s expected business and financial performance, among other matters, contain words such as “believe,” “expect,” “estimate,” “anticipate,” “optimistic,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,” and similar expressions.

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The Company’s actual results could differ materially from those expressed or forecast in any forward-looking statements as a result of a variety of assumptions and factors.

These factors include, but are not limited to, the following: (i) failure to comply with laws or regulations, including fraudulent activity, corruption, and bribery; (ii) the outcome of ongoing corruption investigations and any new facts or information that may arise in relation to the “Lava Jato Operation”; (iii) the effectiveness of the Company’s risk management policies and procedures, including operational risk; and (iv) litigation, such as class actions or proceedings brought by governmental and regulatory agencies.  A description of other factors can be found in the Company’s Annual Report on Form 20-F for the year ended December 31, 2013, and the Company’s other filings with the U.S.

Securities and Exchange Commission.