Petrobras and Shell talking for partnership

Jul 23, 1997 02:00 AM

July 5, 1997 Brazil's Petrobras is actively negotiating with Shell a partnership for crude exploration and exploitation in Brazil and world-wide. The guidelines for the association in Brazil are being negotiated by executives of both companies. Petrobras has released a list of 140 exploration and production projects worth $ 3 bn, for which it would seek partnership to develop. One of them, at Campos basin, Rio de Janeiro state, is estimated at $ 1 bn.
Petrobras wants to develop associations abroad, following the strategy adopted by the South American oil majors YPF and PDVSA.

Source: not available
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