ImportImportImportImport

ACTION ROUTESGOODS AND SERVICES SUPPLY

Current Demand Future Demand

National National National National

IndustryIndustryIndustryIndustry

ImportImportImportImport

Expansion of

Capacity of National

Supply of Goods

and Services

1. Expand production capacity of high competitiveness sectors

2. Developing the competitiveness of middle competitiveness sectors

3. Encourage the development of new national entrants

4. Encourage association of domestic and foreign companies

5. Encourage the installation of foreign companies in Brazil

National Competitive Supply of Goods & Services

Adequacy of National Supplier Estate

Agenda

PROMINP: O&G Brazilian Industry Mobilization Program

PETROBRAS' Local Content Policy

Offshore and Maritime Equipment Demand

Brazilian Main Shipyards

PETROBRAS' Local Content Policy

PETROBRAS' Local Content Policy

The projects and acquisitions for Petrobras must support the challenges of Company’s Strategic Plan and

therefore maximize local content based on competitive and sustainable basis, accelerating the development of

markets where it operates, guided by ethics and

generating continued innovation.

December 22nd, 2011

� Ensure adherence to capital discipline, assuring the competitiveness of procurement and reducing financial and logistical risks in implementation and operation of projects.

Capital Discipline

� Execute procurement in a coordinated manner for the items of common use.

Integration of Supply

� Uniform criteria for measuring and requiring local content in Petrobras acquisitions.

Local Content Standardization

in Petrobras

� Encourage the development of local markets in a sustainable manner.Local Suppliers

� Prioritize supplies with local engineering development.National

Engineering

� Encourage the development of the local market to overcome technology gaps.

Technology Gaps

DR

IVE

RS

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PETROBRAS' Local Content PolicyApproved by the Board on December 22nd, 2011

PETROBRAS' Local Content PolicyLocal Content Requirements

Minimum Local Content requirement for financing concession (BNDES)Minimum Local Content requirement for financing concession (BNDES)

Agenda

PROMINP: O&G Brazilian Industry Mobilization Program

PETROBRAS' Local Content Policy

Offshore and Maritime Equipment Demand

Brazilian Main Shipyards

Major Shipyards and Gantries w/ Trade Relations with Petrobras

Rio Grande Shipyard – ERG1 - RS

Aerial View of the Estaleiro Rio Grande ERG1 - RS (09/03/12).

(1) Ecovix's Sheets Yard; (2) Sub-blocks Yard of Ecovix's replicating hooves; (3) QUIP's modules gantry for topside and integration of the P-55; (4 ) IESA's modules gantry; (5) Pre-construction

area, with detail to the yellow blocks of Konecranes Goliath type portico (largest crane in the world: 210m span and capacity of 2,000 tons) delivered in Aug/12; (6) Integration work of the P-55;

(7) Construction work of Estaleiro ERG 2, where it will be built 3 Setebrasil's Drillships (NS Cassino, NS Curumim and NS Salinas)

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Rio Grande Shipyard – ERG 1 - RS

Aerial View of the Estaleiro Rio Grande ERG1 - RS (09/03/12).

P-55 (Hull built in EAS - PE): (1) Water treatment module; (2) Electrostatic treater, (3) Amine drive's Module; (4) High pressure separator, (5) Flare tower, ( 6)Portico with 2,000 tons capacity; (7)

Workshops, (8) Shipyard's utility central.

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Estaleiro Rio Grande – ERG 1 - RSRio Grande Shipyard – ERG2 - RS

Works' Aerial View of Estaleiro Rio Grande 2 (ERG2) – RS (09/03/12).

Construction work of the Estaleiro ERG 2 where it will be built 3 Setebrasil's Vessels (NS Cassino, NS Curumim and NSSalinas).

(1) Hull's blocks of 8 FPSOs replicating (P-66, P-67, P-68, P-69, P-70, P-71, P-72, P-73), which it will mounted in the ERG1 by Ecovix; (2) ERG2's workshops civil construction

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BrasFels Shipyard - RJ

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Overview of Estaleiro BrasFels in Angra dos Reis - RJ (31/08/12).

(1) P-61 (CL:65%): HULL'S Construction of TOPSIDE's TLWP and integration (deckbox and built modules in Singapore).

(2) São Paulo City FPSO (CL: 65%): HULL's Conversion in China and integration of the 16 mod., Built in Brasfels (5 mod), Enaval (1 mod), Thailand (8 mod) and China (2 mod).

(3) Paraty City FPSO (CL: 65%): HULL's Conversion in Singapore and integration of 15 modules built in the Brasfels (5), Nuclep (4), Enaval (2), and Singapore (4).

BrasFels Shipyard - RJ

Overview of Estaleiro BrasFels in Angra dos Reis - RJ (08/31/12).

(1) Hull of P-61, (2) São Paulo City FPSO, (3) Paraty City FPSO;

Paraty City FPSO's Modules: (4) TS072 - Main Gas Compressor B; (5) TS062 - Oil Treatment A; (6) TS063 - Oil Treatment B; (7) TS071 - Main Gas Compressor A; (8) TS075 - Gas Treatment

B; (9) TS073 - Compressor CO2; (CL: It was contracted full package of modules with 65% local content).

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