Pedro Parente of Petrobras and the vice president of CNPC and president of PetroChina, Wang Dongjin, signed a Memorandum of Understanding in Beijing today to begin negotiations on a strategic partnership.

Based on this Memorandum of Understanding, the companies undertake to jointly evaluate opportunities in Brazil and abroad in key areas of mutual interest, benefiting from their capabilities and experiences in all segments of the oil and gas chain, including Potential structuring of financing.

For Petrobras, the realization of partnerships is an important strategy of the 2017-2021 Business and Management Plan. Strategic partnerships have the potential benefits of sharing risks, increasing the capacity of investments in the oil and gas chain, technological exchange and strengthening of corporate governance.

For CNPC, the partnership with Petrobras reinforces its interest in investing and increasing its activities in Brazil.

Petrobras and CNPC: Since 2013, Petrobras and CNPC are partners in the Libra area, the first contract for the production sharing regime, located in the Santos Basin pre-salt.

About Petrobras:

Petrobras is an integrated energy company with a focus on oil and gas, recognized as a leader in exploration and production in deep and ultra deep waters, operating mainly in Brazil. Currently, Petrobras produces 2.8 million barrels of oil equivalent per day and operates a refining capacity of 2.4 million barrels per day. The company values respect for life, people and the environment; Ethics and transparency; Market orientation; Overcoming and confidence; And results.

Www.petrobras.com.br

About CNPC:

CNPC is China's largest integrated O & G corporation, with activities in the upstream, midstream, downstream, marketing and marketing sectors, petroleum services, engineering, construction and equipment manufacturing. CNPC has a presence in more than 70 countries.

Http://www.cnpc.com.cn