Petrobras has signed a memorandum of understanding with HRT O&G Exploração e Produção de Petróleo Ltda. (HRT) and TNK-Brasil Exploração e Produção de Óleo e Gás Natural Ltda. (TNK) to conduct studies in the companies' concession areas in Solimões basin in the state of Amazonas, a news release said.

The objective of the memorandum is to conduct joint analysis to assess the feasibility of monetizing natural gas in concessions areas adjacent to Juruá field in Solimões basin. According to the terms of the memorandum, after the studies have been completed, there is no obligation for the parties to sign any commercial or operational agreement related to their results, according to the release.