Petrobras, CNPC in talks on alliance

Petrobras and CNPC have signed a memorandum of understanding in Beijing to structure a strategic partnership.

Offshore staff

RIO DE JANEIRO – Petrobras and CNPC have signed a memorandum of understanding in Beijing to structure a strategic partnership.

They plan to jointly evaluate opportunities in Brazil and abroad in areas of mutual interest, applying their respective strengths across all segments of the oil and gas supply chain, including potential financing structuring.

ForPetrobras, forming partnerships is central to company’s 2017-2021 Business and Management Plan.

Strategic partnerships, it points out, bring benefits in terms of sharing risks, increasing its investment capacity in the oil and gas supply chain, technological exchanges, and the enhancement of corporate governance.

For CNPC, the partnership with Petrobras reinforces its goal of continued investment in Brazil.

Since 2013, the two companies have been partners in theSantos basin presalt Libra area, the first contract under the production-sharing agreement regime.

07/05/2017

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