Petrobras and BP confirm alliance with MOU

Brazil’s state oil firm Petrobras and British supermajor BP have signed a memorandum of understanding (MOU), committing both parties to exploring potential areas of commercial co-operation.

It builds on commitments the two companies made in a Letter of Intent (LOI) in October last year.

In confirming the alliance through the new MOU, the parties also plan to share technology and do joint training and research.

BP has a 61-year history of involvement in Brazil and recently has stepped up its partnership with Petrobras.

It is now teamed up with the Rio de Janeiro-based company in 16 exploration blocks in Brazilian territory.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.
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