Petrobras has signed a heads of agreement (HoA) with Norway's Statoil to commit to assessing cooperation opportunities aligned with their business strategies relating to deepwater mature fields.
The agreement is in continuity with a memorandum of understanding signed in August 2016.
Under the HoA, the two companies reaffirm the intention to work in partnership to increase reserves in deepwater mature fields, with initial focus on the post-salt area of Campos Basin. The aim is to increase the oil production and recovery rates of the fields involved in the partnership.
In addition, the two companies, which already are partners in 10 blocks in exploration phase in Brazil, intend to optimize the use of natural gas, including the area of BM-C-33, in which Statoil is the operator. As such, the HoA also covers the general principles for sharing gas infrastructure in Campos Basin.
All contracts related to the partnership are expected to be signed by the end of this year.