Looking for a specific product?

Make a search for products & suppliers, articles & news.

Statoil and Petrobras strengthen strategic partnership

Statoil reports that they have strengthened their cooperation in Brazil by signing a Memorandum of Understanding (MoU) with Petrobras.

MoU Statoil Petrobras
Statoil CEO Eldar Sætre and Petrobras CEO Pedro Parente signed an MoU. Photo: Olje Jørgen Bratland

 

According to a Statoil press release, the intention of the MoU is to evaluate joint participation in future tenders for exploration areas and to increase upstream collaboration in producing fields in the Santos and Campos offshore basins.

 

VALUE CREATING OPPORTUNITIES

The agreement also sets out a potential framework for cooperation on value creating opportunities in the gas value chain.

The agreement was signed by Petrobras’ president and CEO Pedro Parente and Statoil’s CEO Eldar Sætre during the ONS 2016 conference in Stavanger.

It follows the agreement in July 2016 whereby Statoil acquired Petrobras’ 66% operated interest of the BM-S-8 offshore license in the Santos basin, subject to government approval.

"This MoU reflects our long-term commitment to Brazil and is a result of our strong and long-standing relationship with Petrobras. Collaboration with partners like Petrobras, a company well-known for its technical expertise and profound knowledge about one of our core strategic areas, represents an excellent opportunity for us. We hope that this will result in significant value creation potential for both parties”, says Statoil CEO, Eldar Sætre.

 

EXPLORATION STRATEGIC ALLIANCE

Petrobras and Statoil through this agreement will continue their exploration strategic alliance. The intent is to define opportunities in the pre-salt polygon of the Santos and Campos basin.

The companies aim to capture value through application of technology and simplification of operational activities. Currently, Petrobras and Statoil are partners in 13 blocks in either exploration or production; 10 in Brazil and three abroad.

"We are moving into a strategic partnership that will be beneficial for both companies. Statoil has very high levels of oil recovery in their producing fields, for example, and we will have access to this experience and know-how through a partner, with obvious benefits for both sides", says Petrobras CEO, Pedro Parente.

The agreement has a horizon of two years, and the joint activities undertaken will depend on negotiations following the signing of the document.

Associated companies:


Related news

Latest news

Introducing SAL R1a Easy Tank

Innovation up to speed – Introducing SAL R1a Easy Tank.

Speed logs for 100 years

This is the story of the Consilium speed logs, helping you navigate for more than 100 years.

IAEA Mission says Research Reactor Operator in Norway is Committed to Safety

A team of eight reactor experts from the International Atomic Energy Agency (IAEA) has for one week undergone the safety of the JEEP II research reactor at Kjeller. The expert group concludes that IFE strongly emphasizes s...

New Research Center for Environment-friendly Energy

The new FME center is dedicated to development of materials, components and technology for use of batteries and hydrogen in zero emission transport systems. It will be a special focus on the maritime sector.

The Netherlands re-join the Halden Reactor Project

The Netherlands signed the Halden Agreement on December 1st and will formally become the 20th member country in the Halden Reactor Project (HRP) after the formal acceptance from the Halden Board during their Paris meeting ...

First phase of DNV GL led offshore cable and pipeline operations equipment joint industry project completed

The data analysed during phase 1 has identified and recorded various processes...

The end of the paper chase: DNV GL to roll out electronic certificates across entire fleet

Certificates are published on DNV GL’s customer portal immediately after an onboard survey is completed,

New Integrated Solution Set to Redefine DP Reference Systems

DPS i2 and DPS i4 utilise KONGSBERG's unique motion gyro compass (MGCTM) and motion reference unit (MRUTM) technology.

Servogear service hub in Asia

September 2017, Servogear announce the strengthening of our presence in Asia with the establishment of a service hub in Singapore.