Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. 

Form 20-F ___X___ Form 40-F _______

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes _______ No___X____

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Partnership with ExxonMobil for exploration in Turkey

Rio de Janeiro, January 13, 2010 – Petróleo Brasileiro S.A. - Petrobras announces its wholly-owned subsidiary Petrobras Oil & Gas B.V., signed an agreement with ExxonMobil Exploration and Production Turkey B.V., on January 11, to transfer 25% of its stakes in the farm-in agreement for Block 3922 (Sinop), located in deep Black Sea waters, in Turkey. With the signature of the agreement, ExxonMobil will now hold 25% equity stakes in the Block's concession license. Petrobras, which previously held 50% of the stakes, now holds 25% and continues as the operator for the project. Meanwhile, the Turkish national oil company, Turkish Petroleum Corporation (TPAO), holds the remaining 50% of the stakes.

The drilling rig to be used in this project - the Leiv Eiriksson - arrived in Turkey on December 31. Drilling operations are expected to begin in the first quarter of 2010 in the Sinop-1 well, located some 145 kilometers from the city of Sinop, nestled in ultra-deep Black Sea waters.

With this transaction, Petrobras seeks a new partnership to develop its exploratory activities in Turkey, but maintains its performance strategy in the country, which is part of the investments planned for the international segment.

 

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www.petrobras.com.br/ri For more information: PETRÓLEO BRASILEIRO S. A. – PETROBRAS
Relacionamento com Investidores | E-mail: petroinvest@petrobras.com.br / acionistas@petrobras.com.br
Av. República do Chile, 65 - 2202 - B - 20031-912 - Rio de Janeiro, RJ | Tel.: 55 (21) 3224-1510 / 9947 | 0800-282-1540

This document may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that merely reflect the expectations of the Company’s management. Such terms as “anticipate”, “believe”, “expect”, “forecast”, “intend”, “plan”, “project”, “seek”, “should”, along with similar or analogous expressions, are used to identify such forward-looking statements. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.

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This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that are not based on historical facts and are not assurances of future results.  These forward-looking statements are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results o f operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. 
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