Petrobras (PBR)

12.7 Return of exploration areas to ANP

During the third quarter of 2008, Petrobras returned to the National Agency for Petroleum, Natural Gas and Biofuels (ANP) the rights to:

• the exploration licenses for the Sergipe Terra Basin: BT-SEAL-4 (blocks SEAL-T-341 and SEAL-T-356), BT-SEAL-12 (block SEAL-T-367) - total return of the blocks.

12.7 Return of exploration areas to the ANP

During the second quarter of 2008, Petrobras returned to the National Agency for Oil, Natural Gas and Biofuels - ANP, the rights to Exploration licenses for Potiguar Terra Basin 42 - POT-T-575 (return of the entire block).

13.7 Return of exploration areas to the ANP

During the financial year of 2007, Petrobras returned to the National Agency for Oil, Natural Gas and Biofuels - ANP, the rights to:

- Exploration license BM-C-3 - return of the entire area retained for assessment purposes;

- Exploration licenses BFZ-2, BM-C-16, BM-C-4 and BM-C-27 (blocks C-M-97 and C-M-121) - return of the entire area of the blocks;

- Exploration licenses BT-ES-21, BT-ES-22, BT-ES-25, BT-ES-27, BT-REC-13, BC-2 and BT-REC-19 (blocks REC-T-221 and REC-T-236) - return of the blocks, except for the areas retained under a Declaration of Commercial Discovery, or for assessment or annexation purposes;

- Exploration licenses BM-S-36 (except block S-M-557) - and BM-S-40 (except blocks S-M-1288 and S-M-1289) - return of all the blocks.

(e) Return of exploration areas to the ANP

During 2005, PETROBRAS returned to the National Agency of Petroleum, Natural Gas and Biofuels - ANP the rights associated with:

- Exploratory concession ES-T-400.

- Areas for Well Discovery Assessments:

1-BRSA-18-ESS / completing total return for Block BC-600.

1-BRSA-213-RJS / completing total return for Block BC-100.

(g) Return of exploration areas to the ANP

During 2004, PETROBRAS returned to the National Petroleum Agency - ANP the rights associated with one exploratory concession – BM-ES-9 (fully returned) and 15 exploratory concessions referring to the completion of the first exploration phase (partially returned) as established in the agreements, all in connection with BID 3. Of the total sixteen concessions and exploratory areas, PETROBRAS had exclusive rights over 9 (nine) concessions, and the other 7 (seven) were operated in partnership with other companies.

The rights to POT-T-655 Block, referring to BT-POT-22 Exploratory Block, BID 5, in which PETROBRAS was the sole concession holder, were fully returned to ANP.

Three areas - BM-C-14/BM-S-14/BM-S-22 - explored by PETROBRAS in partnership with other companies, the concession of which was not operated by the Company, were partially returned to ANP.

The area relating to 1-RJS-144 well, originating in BC-200 block, maintained in connection with the assessment of the related discovery was returned. Considering that PETROBRAS was not interested in declaring its marketability, the area was fully returned.

Thus, total concessions returned are as follows: