Prepayment of bank debt and new financing


Rio de Janeiro, November 17, 2017 – Petróleo Brasileiro S.A. – Petrobras reports
that it has raised yesterday funds with a syndicate of commercial banks led by
Standard Chartered, in the amount of US$ 1 billion.

In addition to Standard Chartered, the syndicate consists of China Construction
Bank, ABN AMRO Bank, Industrial and Commercial Bank of China, Banco
Latinoamericano de Exportações and Commerzbank. The funding is guaranteed by
P-56 platform.

Simultaneously, Petrobras made the prepayment of a funding with Standard
Chartered, in the amount of US$ 500 million, which would mature in December
2018. The remaining funds will be used to prepay existing debts.

The company will continue to evaluate new prepayment and new financing
opportunities, in accordance with its liabilities management strategy, which
aims to improve the amortization profile, taking into account the deleveraging
target set forth in its 2017-2021 Business and Management Plan.


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www.petrobras.com.br/ir
Contacts:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations Department | 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,”
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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, 2016, and
the Company’s other filings with the U.S. Securities and Exchange Commission.