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A New Brazilian-Norwegian Agreement; Petro Bras and Statoil Partnership
The two great and famous Brazilian and Norwegian oil companies, Petróleo Brasileiro SA and Statoil have signed a new agreement in order to complement the partnership they already have in Brazil, looking forward to increase and enhance natural gas operations, due to a securities filing on Friday.
As PetroBras, the Brazilian part says, this new agreement is related to and acknowledging the plan to increase oil recovery rates at mature fields in the Campos basin and has the aim to optimize natural gas production, particularly in the BM-C-33 area in Campos. Due to this fact, the agreement includes a provision for Statoil to share Petrobras gas infrastructure at that basin.