THE HAGUE, the Netherlands – Shell and Petrobras have signed a memorandum of understanding (MoU) to enter into a long-term collaboration on developing presalt fields offshore Brazil.
In Shell’s case, the company will be able to access the technical solutions, contract management experience, and cost-efficient initiatives that Petrobras already applies to its Brazilian presalt and postsalt projects.
In turn, Shell will share with Petrobras its global deepwater experience, in particular its use of technology and cost-efficiency efforts.
The MoU extends to sharing best practices and lessons learned on safety and governance management, technical and operational solutions, contract management, logistics, wells construction, and air transportation safety.
Wael Sawan, Shell’s Deep Water executive vice president, said: “Competitive growth of deepwater resources remains key to our company’s strategy for decades to come, and we’re very pleased to advance the technical and operational benefits of our joint-ventures with Petrobras in Brazil.”
The agreement runs for five years and can be renewed. Shell currently partners with Petrobras in thepresalt Libra and Lula fields and other fields such as Sapinhoá, Lapa, and Iara, all in the Santos basin.