Petrobras & BP Started Negotiations for Strategic Alliance

Source: www.gulfoilandgas.com 10/31/2017, Location: South America

Petrobras have signed a letter of intent (LOI) with BP to jointly identify and evaluate business opportunities involving assets or ventures in Brazil and abroad. The document provides for cooperation in the areas of exploration & production, refining, transportation and commercialization of gas, LNG, oil trading, lubricants, aviation fuel, energy generation and distribution, renewable energy, technology and low carbon initiatives. development of a potential strategic alliance between the companies.

LOI was signed in London on October 18, 2017 by our Executive Director of Refining and Natural Gas Jorge Celestino and BP Upstream President Bernard Looney.

As an important step, we participated with BP in the third round of ANP biddingunder the production sharing regime, having acquired exploration and production rights for the Alto de Cabo Frio Central block in a 50% -50% consortium; and for the Peroba block, together with CNODC, a subsidiary of CNPC, in a consortium of 40% Petrobras, 40% BP and 20% CNODC.

Petrobras also signed a Memorandum of Understanding with CNPC on July 4, 2017 to form a comprehensive strategic alliance.

For Petrobras, the realization of partnerships is an important strategy of the 2017-2021 Business and Management Plan . Strategic partnerships have the potential benefits of sharing risks, increasing the capacity of investments in the oil and gas chain, technological exchange and strengthening of corporate governance.


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Related Articles: Consultancy  Engineering  FEED  General  Maintenance and Repair  Process Technology Licensing  Production Engineering  Project & Resource Management 


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