Rio de Janeiro, October 08, 2015 - Petróleo Brasileiro S.A. - Petrobras complies with Official Letter 397/2015/CVM/SEP/GEA-1 which requests clarifications as transcribed below:

OFFICIAL LETTER 397/2015/CVM/SEP/GEA-1

'We present clarifications about the news published today on the O Globo newspaper, Economy Section, under the title: 'Seeking a foreign partner', which included, among other matters, the following affirmations:

In search of a foreign strategic partner to complete the works of the Rio de Janeiro Petrochemical Complex (Comperj), in Itaboraí, Rio de Janeiro, Petrobras has already identified at least four potential partners in Asia and Europe, according to government sources familiar with the negotiations. In August, a mission of the government-owned company went to China, and, in September, another group went to Europe to talk with investors who have expressed interest and meet the profile sought by the company. Lacking funds to pay for the remaining 13% of the first refinery (train 1), Petrobras wants a partner with experience in the area to finance the completion of the work and, subsequently, participate in the refinery's operation and benefit from the returns, proportionally to said partner's interest in the business.

[...]

- Petrobras has already been trying to find a partner for some time. It is not easy, especially in view of the current scenario - declared Haroldo Lima, former Director General of the National Petroleum, Natural Gas and Biofuel Agency (ANP).

Petrobras' evaluation is that past losses will not be recovered, but it would not be wise to abandon a project with 87% of the works completed.

The pursuit of a foreign investor began from the assessment that there are no national entrepreneurs capable of taking over the completion of the Comperj, as major contractors are in crisis since Operação Lava Jato (Carwash Operation) began and not even Petrobras is capable of financing the works with its own resources.

Given the abovementioned, we request you to clarify if the news is true, and, if so, please explain the reasons you understood this was not a material fact.'

Clarification

Petrobras reiterates the information disclosed to the market on 08.28.2015 that, as released in 2015-2019 Business and Management Plan, the Company envisages investments of US$12.8 billion in the Refining, Transportation and Marketing area.

This total includes investments in Comperj for the works related to natural gas reception and treatment and equipment maintenance, among others.

The Plan also deals with business restructuring, including the pursuit of partners for the conclusion of certain projects, including Comperj.

Facts deemed material concerning this matter will be disclosed to the market in a timely manner.

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