Statoil and Petrobras sign long-term deal
September 4, 2007
BY Michael Shirek
Posted Sept. 17, 2007, at 1:20 p.m. CDT
Norwegian oil and gas company Statoil and Brazilian oil company Petrobras signed a memorandum of understanding that brings the companies together to study business development opportunities in Brazil and internationally. Statoil CEO Helge Lund and Petrobras CEO Jose Sergio Gabrielli de Azevedo signed the agreement in Oslo, Norway, Sept. 14.
According to a Petrobras news release, the agreement will include biofuels production and development with a focus on research and development in cellulosic ethanol and biodiesel production.
The companies already have several partnership agreements governing exploration and production in Brazil, Angola, Nigeria and the Gulf of Mexico. The partners are also joined in a technology partnership involving drilling, exploration and undersea operations.
Norwegian oil and gas company Statoil and Brazilian oil company Petrobras signed a memorandum of understanding that brings the companies together to study business development opportunities in Brazil and internationally. Statoil CEO Helge Lund and Petrobras CEO Jose Sergio Gabrielli de Azevedo signed the agreement in Oslo, Norway, Sept. 14.
According to a Petrobras news release, the agreement will include biofuels production and development with a focus on research and development in cellulosic ethanol and biodiesel production.
The companies already have several partnership agreements governing exploration and production in Brazil, Angola, Nigeria and the Gulf of Mexico. The partners are also joined in a technology partnership involving drilling, exploration and undersea operations.
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