About the Company

Barra Energia do Brasil Petróleo e Gás Ltda. (“Barra Energia”) is a newly established independent oil and gas exploration, development and production company based in Rio de Janeiro, Brazil. The company’s main competitive edge is its technical and commercial expertise and local knowledge, which will be used to find, develop and produce hydrocarbon resources with a primary focus in the 3 most important Brazilian proven petroleum basins: offshore Santos, Campos and Espírito Santo.

The company will target high growth opportunities either in shallow or deep water, in both the post-salt play and in the new high potential pre-salt play.

The management team of Barra Energia has extensive experience in building and developing E&P portfolios both in Brazil and abroad. They intend to leverage their skill sets and knowledge of the local geology and operational environment to build a leading independent Brazilian oil and gas company and contribute to the further growth of the Brazilian petroleum sector.

In May 2010, Barra Energia announced an agreement with First Reserve Corporation, the world’s leading energy-focused private equity investor to commit US$ 500 million of equity capital to fund acquisitions and operations of the company.

In April 2011, the private equity firm Riverstone Holdings LLC has joined Barra Energia, to provide another US$ 500 million for the company's investments. Riverstone is a private equity firm focused on the energy sector, and has approximately US$ 17 billion under its management, across six investment funds, being one of them the largest investment fund in the world in the area of renewable energy.

In May 2011, other private investment funds has committed around US$ 200 million, raising the capacity of the company's investment to nearly US$ 1.2 billion.