Declaration of Natural Gas Volume in Peru

Petrobras announces that 3 wells (Urubamba, Picha and Taini) drilled in Lot 58, at the Madre de Dios Basin, Peru, contain natural gas and condensate totaling a volume of contingent resources (recoverable) of 2 Tcf (56.6 billion cubic meters) of natural gas and 113.7 million barrels of condensate. The Paratori well, which is being drilled in the same lot and is expected to be completed in December 2012, along with other exploratory studies focused on the southern area may reveal additional volumes.
A 3D seismic survey was conducted to support the Delimitation and Development Plans, whose processing was completed recently and is under analysis.
Petrobras Energia Peru S.A. (PEP), a wholly subsidiary of Petrobras is the operator of the Lot, with a stake of 100%.