Petrobras and CNPC have signed a memorandum of understanding (MoU) in Beijing to structure a strategic partnership.
The MoU was signed by Petrobras CEO Pedro Parente, and Wang Dongjin, VP of CNPC and CEO of PetroChina.
The MoU will see the companies jointly evaluate opportunities in Brazil and abroad in key areas of mutual interest, benefiting from their skills and experiences in all segments of the oil and gas supply chain, including potential financing structuring.
For Petrobras, the achievement of partnerships is an important strategy of the 2017-2021 Business and Management Plan. Strategic partnerships have the potential benefits of sharing risks, increasing investment capacity in the oil and gas supply chain, technological exchanges, and the enhancement of corporate governance.
For CNPC, the partnership with Petrobras reinforces its interest in investing and increasing its activities in Brazil.
Since 2013, Petrobras and CNPC have been partners in the Libra area, the first contract under the production sharing agreement regime, located in the Santos Basin pre-salt layer.