Petrobras, ExxonMobil take first step toward E&P alliance

Petrobras has signed a memorandum of understanding with ExxonMobil on a strategic alliance to jointly identify and assess potential business opportunities.

Offshore staff

RIO DE JANEIROPetrobras has signed a memorandum of understanding with ExxonMobil on a strategic alliance to jointly identify and assess potential business opportunities.

The two companies aim to combine their experience across all sectors of the oil and gas production value chain, including exploration, production, gas and chemicals inside and outside Brazil.

Petrobras, which is pursuing alliances as part of its 2017-2021 Business and Management Plan 2017-2021, sees benefits such as risk sharing, greater capacity for investment, and sharing of technology.

In September, the duo jointly acquired six offshore blocks in the Campos basin under the National Agency of Petroleum’s 14th tender round.

12/15/2017

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