Petrobras reaffirms its partnership with PdVSA

Offshore staff

RIO DE JANEIRO -- Petrobras has reaffirmed its projects in partnership with Venezuelan national oil company Petróleos de Venezuela.

Negotiations involving the construction of the Abreu Lima Refinery, in the Suape Port in Pernambuco in northeastern Brazil in association with the development of the Carabobo field in Venezuela, are in progress, Petrobras says.

According to Petrobras , there is no threat that the negotiations kicked off nearly two years ago will be interrupted. The company also says that Nestor Cerveró, international area director and Paulo Roberto Costa, supply director, will be in Caracas, Venezuela, the week of May 7 to attend another scheduled meeting of the joint Petrobras/PdVSA committee.

Petrobras remains resolute in studying the viability of the projects that are currently under discussion with PdVSA and the Venezuelan government, Petrobras says. The projects include mature field revitalization and development of the Mariscal Sucre field, both of which are in Venezuela.

5/3/2007