About the Company

Barra Energia do Brasil Petróleo e Gás Ltda. (“Barra Energia”) was established in May 2010 as an 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 has been used to find, develop and produce hydrocarbon resources with a primary focus in the three most important Brazilian proven petroleum basins: offshore Santos, Campos and Espírito Santo.

The company targets 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, a major energy-focused private equity investor that committed 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 and committed to provide another US$500 million for the company's investments. Riverstone is also a major private equity firm engaged in the energy sector.

Finally, in May 2011, various other private investment funds have committed around US$ 200 million, raising the company's investment capacity to nearly US$ 1.2 billion.