Petrobras, Statoil sign HoA on Brazil partnership

Petrobras has signed a heads of agreement with Statoil, further to the memorandum of understanding the two parties agreed to in August of last year.

Offshore staff

RIO DE JANEIROPetrobras has signed a heads of agreement (HoA) with Statoil, further to the memorandum of understanding the two parties agreed to in August of last year.

Under the agreement, they have reaffirmed their intention to work jointly to increase reserves at Brazilian deepwater mature fields, with an initial focus on the post-salt area of the Campos basin.

The HoA defines the general principles of the technical cooperation agreement, aimed at increasing oil production and the recovery factor from their jointly held fields.

The two companies, which are partners in 10 blocks in the exploration phase, also plan to optimize the use of natural gas, including the BM-C-33 concession where Statoil is the operator, and to share gas infrastructure in the Campos basin.

They aim to secure approvals for their strategic partnership by year-end.

10/02/2017

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