Petrobras and Statoil have signed a memorandum of understanding that aims to evaluate their joint participation in future tenders and upstream collaboration in producing fields in the Campos and Santos basins.
The two companies are already partners in 13 exploration or production blocks, mostly in Brazil.
The agreement, signed during ONS 2016, also sets out a potential framework for cooperation on value creating opportunities in the gas value chain, Statoil said in a news release. With technology and simplified operations, the two aim to capture value.
“Statoil has very high levels of oil recovery in their producing fields, for example, and we will have access to this experience and know-how through a partner, with obvious benefits for both sides,” Petrobras CEO Pedro Parente said.
The agreement is for two years, and joint activities undertaken will depend on negotiations following the signing of the document, Statoil said.
—Staff Reports
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