BPCL

• Petrobras 30%
• IBV Brasil 20%
• Petrogal 20%
• BP 30%

Barra, Barra#1, Farfan & Cumbe Discoveries, Sergipe Alagos Basin

• Petrobras 60%
• IBV Brasil 40%

• Discovery of Hydrocarbons opened up a new frontier oil & gas province in the Sergipe Alagoas Basin.
• Appraisal activities in progress for Farfan, Barra and Cumbe discoveries.
• First oil is expected by 2018/2019 and first Gas by 2020/2021.

Wahoo Discovery – Campos Basin

• Petrobras 20%
• IBV Brasil 25%
• BP 25%
• Maersk 20%

• Discovery of Light Oil in the prolific Campos Basin.
• ANP has approved appraisal plan.
• Potential First Oil expected in 2018.