Petroleo Brasileiro Petrobras : We have formed a strategic alliance with Total in Exploration & Production and Gas & Power

Our CEO, Pedro Parente, and the CEO of Total, Patrick Pouyanne, signed, on Monday, in Rio de Janeiro, a memorandum of understanding (MOU) to consolidate a strategic alliance in the Exploration & Production (E&P) and Gas & Power (G&P) segments in Brazil and for potential opportunities abroad.

Under this MOU, the companies commit to jointly evaluate opportunities in Brazil and abroad in key areas of mutual interest, leveraging their recognized experience in all segments of the oil and gas chain.

In the first phase of the agreement, the companies intend to focus on the E&P and G&P areas.

In E&P, we will offer partnerships in projects in Brazil, while Total will offer partnership opportunities abroad. This new alliance will allow the two companies to leverage their experience and expertise in deep water development aiming to optimize production and develop these activities in Brazil and in other promising oil and gas provinces, sharing costs and risks in highly complex projects and those demanding high investments.

In the G&P segment, the companies will undertake joint activities in the natural gas and electricity areas in Brazil.

In a second phase, the MOU also provides for the extension of the strategic partnership to all refining and natural gas segments.

We have currently partnered with Total in 15 exploration and production consortia, nine in Brazil and six abroad. In Brazil, we are partners in the Libra area, the first contract under the production sharing system, which is in the Santos Basin pre-salt region. Abroad, we are partners in the Chinook field, in the US Gulf of Mexico, in the Akpo deepwater field, in Nigeria, and in the San Alberto and San Antonio/Itau gas fields in Bolivia, besides being partners in the Bolivia-Brazil pipeline.

We are an integrated energy company focused on oil and gas, recognized as a leader in exploration and production in deep and ultradeep waters, operating mainly in Brazil. We currently produce 2.88 million barrels of oil equivalent per day. We have respect for life, people and the environment; ethics and transparency; market orientation; resilience and confidence, and results as values .

Total is an integrated energy company, one of the leading international companies in the oil and gas industry, and the second largest solar power operator in the world, with SunPower. Its 96,000 employees are committed to providing the safest, cleanest, most efficient, most innovative, and most cost-effective energy to as many people as possible. As a responsible corporate citizen, Total focuses on ensuring that its operations in more than 130 countries produce economic, social, and environmental benefits on a consistent basis.