2011-06-28-2011-06-17

To acquire 50% WI in 2 contracts covering Mbeli and Ntsina blocks offshore Gabon.

A subsidiary of Petroleo Brasileiro SA (Petrobras), Rio de Janiero, Brazil, (NYSE: PBR) plans to acquire a 50% interest in two production-sharing contracts covering the Mbeli and Ntsina blocks offshore Gabon from London-based Ophir Energy Plc for an undisclosed price.

Petrobras has committed to participate in an initial work program that includes the acquisition of at least 2,000 square kilometers of 3-D seismic data. The acquisition and processing parameters will be specifically designed to image deep pre-salt potential that has not been the focus of previous exploration in the area.

After completing the initial work program, Petrobras may elect to continue and make a promoted contribution towards the first and second exploration wells to complete its earning obligations or withdraw from the contracts. Petrobras has the right to assume operatorship of both contracts.