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Petrobras and Statoil sign MOU on co-operation offshore Brazil

Petrobras and Statoil have signed a Memorandum of Understanding (MOU) to facilitate more co-operation and joint ventures between the two energy giants.

Statoil is a multinational in which the Norwegian government has a controlling interest, while Petrobras is Brazil’s state-run oil firm.

The MOU, agreed in Stavanger, Norway, at the Offshore Northern Seas (ONS) Conference, pertains to potential team-ups on projects in the pre-salt polygon of the Santos and Campos basins offshore Brazil.

It is seen as mutually beneficial, with Petrobras’ local knowledge and technical know-how balancing Statoil’s proven record at maximizing production from oilfields.

The deal comes after last month’s (July’s) transaction whereby Statoil bought Petrobras’ 66% stake in the Carcara field offshore Brazil for $2.5bn.

And in April Statoil and Petrobras struck a big find in the Campos basin, in a joint operation with Spanish and Chinese JV Repsol Sinopec Brasil.

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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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