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Petrobras and bp sign memorandum of intent for business and research

Published by , Editorial Assistant
Oilfield Technology,

Petrobras and bp signed a memorandum of understanding (MoU) with the purpose of promoting discussions and collaboration between the companies.

This non-binding agreement focuses on topics such as: business opportunities in sustainable fuels, carbon credits, refining and exploration and production. The companies will also seek to work together on research, development and innovation projects.

“We will deepen the conversations to exchange knowledge, synergy of assets and opportunities for developing products and businesses that serve an increasingly demanding society and market”, stated the president of Petrobras Jean Paul Prates.

“BP and Petrobras have built a strong relationship as partners in exploration blocks in Brazil. I am excited about this opportunity to bring together our skills, experiences and abilities to expand our cooperation in new areas in Brazil and potentially the world,” said William Lin, Executive Vice President of Regions, Corporations and Solutions at bp.

The memorandum lasts for two years. To monitor the progress of studies and discussions, committees will be formed with representatives from both companies.

The two companies are already partners in exploratory blocks in the Exploration & Production segment, including Alto de Cabo Frio Central, in the Campos Basin and in the Barreirinhas Basin, all operated by Petrobras.

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