OREANDA-NEWS. During a formal ceremony held in Lima, we completed the sale of 100% of the shares of our wholly-owned subsidiary Petrobras Energia Peru (PEP) to the China National Petroleum Corporation - CNPC for the sum of USD 2.6 billion. The sale was finalized with a cash payment of USD 2.2 billion to Petrobras, after the deduction of the due tax and the meeting of all of the conditions set down in the contract that was signed on November 13, 2013.

The transaction included: 100% of Lot X, a mature field that produced 13,000 barrels of oil equivalent per day in 2013; a 46.16% stake in Lot 57, an operational field producing natural gas and condensate, operated by partner Repsol; and 100% of Lot 58, an exploration block close to Lot 57, where significant discoveries of natural gas and condensate have recently been made.

We had operations in Peru for 10 years, with notable performance in exploration and production, having applied our technical knowledge and experience to discovery, development and production in Lots X, 57 and 58, thereby contributing to the growth of the oil and gas industry in that country.