New discovery in the Transfer of Rights Area

Petrobras announces the discovery of good quality oil in the fourth well drilled in the Transfer of Rights area, located in the pre-salt of the Santos Basin. The well, 3-BRSA-1053-RJS (3-RJS-699), known as Franco SW, is located in water depths of 2,024 meters, 210 km off the coast of the city of Rio de Janeiro and 17 km southern of the discovery well 2-ANP-1-RJS (Franco).
The discovery was confirmed by good quality oil samples (28º API), obtained by cable tests. The samples were collected in carbonate rocks reservoirs and thicknesses similar to those found in the discovery well. The discovery further confirms the extension of the oil reservoirs in southern Franco area. The carbonate column verified up to this present moment is 295 meters long.
The well is still undergoing the drilling stage in water depths of 5,656 meters and will continue until it reaches the stratigraphic level estimated in the Transfer of Rights Agreement, in water depths of approximately 6,175 metros.
Upon completion of this stage, Petrobras will proceed with the activities and investments provided in the Minimum Exploratory Program (PEO) of the Transfer of Rights Agreement, which also includes the acquisition of 3D seismic data of the area.