Petrobras (PBR)

Petrobras approves the hiring of Vessels

Rio de Janeiro, December 04, 2009 – Petróleo Brasileiro S.A. - Petrobras announces that during a meeting held on 12/03, it approved the chartering of twelve of the nineteen vessels foreseen in the program called EBN (Empresas Brasileiras de Navegação, or Brazilian Shipping Companies).

The EBN involves the chartering for fifteen years of vessels to be built by Brazilian companies in shipyards located in Brazil. The program also establishes that the vessel must sail under the Brazilian flag and remain as such throughout the term of the contract.

The twelve vessels to be contracted will be granted to the tender winners in lots, as follows:

A- Three vessels for light oil products of approximately 45,000 DWT (Dry Weight Tons), with Global;
B- Three vessels for bunker of approximately 2,500 DWT, with Delima;
C- Three vessels for bunker of approximately 4,500 DWT, with São Miguel;
D- Three pressurized gas vessels of 7,000 m3, with the Elcano.

The contracting of the remaining seven vessels foreseen under the program, four of 30,000 DWT and three of 45,000 DWT, was not approved yet.

This program is part of a set of initiatives Petrobras has undertaken to drive naval construction in Brazil. The initiative aims to reduce dependence on international maritime freights, generating jobs in Brazil and uses international cost and quality parameters as reference.

www.petrobras.com.br/ri/english
Contacts: PETRÓLEO BRASILEIRO S. A. – PETROBRAS
Investor Relations Department I E-mail: petroinvest@petrobras.com.br / acionistas@petrobras.com.br
Av. República do Chile, 65 – 22^nd floor - 20031-912 - Rio de Janeiro, RJ I Tel.: 55 (21) 3224-1510 / 9947

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