27-10-98 Petrobras has signed a letter of intent with a group of foreign banks to secure financing for oil production in the key offshore Campos Basin.
The banks, ABN-Amro, Australian New Zealand (ANZ), Chase Manhattan, Credit Suisse First Boston (CSFB) , Fuji Bank and Bank of Tokio-Mitsubishi, are partners with Petrobras.
The total investment needed for the project was $ 1.60 bn, it said.

The project relates to oil and natural gas in three fields of the Campos Basin, Brazil's most important reserve area located north of Rio de Janeiro.
Oil production from the fields -- Espadarte, Voador and Marimba -- was expected to reach 72,500 bpd by the year 2000 from total reserves of 428 mm barrels.
The partnership "project finance" is one of dozens Petrobras has been setting up to step up domestic production and position itself to compete in the newly opened oil sector.
Last month, Petrobras sealed a $ 2.3 bn partnership with Itochu and Mitsubishi to finance expansion of its offshore Barracuda oil field.