Oil and natural gas production in January

Rio de Janeiro, February 15, 2017 – Petróleo Brasileiro S.A. – Petrobras informs
that its total oil and natural gas production in January was 2.86 million
barrels of oil equivalent per day (boed), of which 2.74 million boed were
produced in Brazil and 0.12 million boed abroad.

The average oil production in the country was 2.23 million barrels per day
(bpd), 3% lower than December, 2016. This result was mainly due to the scheduled
stoppage of platform P-40, located in the Marlim Sul field, and to maintenance
in one of the producing wells in FPSO Cidade de Anchieta, located in Parque das
Baleias, both in Campos Basin.

In January, the natural gas production in Brazil, excluding the liquefied
volume, was 81.4 million m³/d, in line with the production of December, 2016.



Pre-salt production reaches new daily and monthly records

In January, oil production operated by Petrobras (wholly-owned and partner
shares) at the pre-salt layer achieved two new records, namely, the
1.28-million-bpd monthly production record and the 1.34-million-barrel daily
production record achieved on Jan. 4. It is also worth noting that oil and
natural gas production operated by Petrobras reached a new record of 1.59
million boed.

Those results are mainly due to production increase in the new wells
interconnected to the FPSOs Cidade de Caraguatatuba (in the Lapa field); Cidade
de Saquarema, Cidade de Mangaratiba, and Cidade de Itaguaí (located in the Lula
field); and Cidade de São Paulo (in the Sapinhoá field); all in Santos Basin.
Another highlight was the higher operating performance at platform P-58, located
in Parque das Baleias, in Campos Basin.



Oil and gas production abroad

In January, oil production in fields abroad reached 69 thousand bpd, a volume
13% higher than in the previous month. This increase was particularly due to
resumed operations in the Agbami field, in Nigeria, after a scheduled stoppage
that took place in December.

Natural gas production was 8.6 million m³/d, 16% lower than the volume produced
in the previous month. This decrease occurred mostly because of the demand
reduction for the gas from Bolivia.


_________________________________________________________________________________
www.petrobras.com.br/ir
Contacts:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations Department I 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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