Sale process of transfer of rights for Baúna and Tartaruga Verde


Rio de Janeiro, March 29, 2017 – Petróleo Brasileiro S.A. – Petrobras, in
continuation to the material facts of 10/6/2016, 12/20/2016, and 3/15/2017 and
to the press release of 11/21/2016, clarifies that it has notified the Federal
Supreme Court of the impossibility to proceed with the divestment process for
the transfer of rights relating to the fields of Baúna and Tartaruga Verde.
Furthermore on today's date the company submitted the same information to the
Federal Court of Aracaju, requesting the termination of court proceedings.

On March 15, as disclosed by Petrobras, TCU revoked the preventive order and,
among other measures, upheld the permission to proceed with this sale process
for being in advanced stage of negotiation, with the determination of compliance
with the Court´s rules. In the face of this decision, the lack of conditions
presented in the acquisition proposal and the maintenance of the effects of the
judicial injunction, the continuation of this divestment process proved to be
unfeasible, given the negotiation or procedural impossibility of resuming
negotiations.

For this reason, the company waived the appeal before the Federal Supreme Court,
which aimed to reverse the Court injunction.

Finally, Petrobras informs that requested in all judicial instances for granting
judicial secrecy, considering the need to preserve its own interests and third
parties interests.





_____________________________________________________________________________
www.petrobras.com.br/ir
Contacts:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations Department I e-mail:
petroinvest@petrobras.com.br
Av. República do Chile, 65 – 10th floor, 1002 – B – 20031-912 – Rio de Janeiro,
RJ | Phone: 55 (21) 3224-1510 / 3224-9947

FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, that are subject to risks and uncertainties.
The forward-looking statements, which address the Company’s expected business
and financial performance, among other matters, contain words such as “believe,”
“expect,” “estimate,” “anticipate,” “optimistic,” “intend,” “plan,” “aim,”
“will,” “may,” “should,” “could,” “would,” “likely,” and similar expressions.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date on which they are made. There is no
assurance that the expected events, trends or results will actually occur. We
undertake no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information or future events or for any
other reason.

The Company’s actual results could differ materially from those expressed or
forecast in any forward-looking statements as a result of a variety of
assumptions and factors. These factors include, but are not limited to, the
following: (i) failure to comply with laws or regulations, including fraudulent
activity, corruption, and bribery; (ii) the outcome of ongoing corruption
investigations and any new facts or information that may arise in relation to
the “Lava Jato Operation”; (iii) the effectiveness of the Company’s risk
management policies and procedures, including operational risk; and (iv)
litigation, such as class actions or proceedings brought by governmental and
regulatory agencies.  A description of other factors can be found in the
Company’s Annual Report on Form 20-F for the year ended December 31, 2015, and
the Company’s other filings with the U.S. Securities and Exchange Commission.