Petrobras planning to form more new joint ventures

Oct 06, 1999 02:00 AM

Petrobras will form new joint ventures to develop oil & gas projects in Brazil. The company has already signed 21 R&D agreements with 26 oil companies, and these projects will demand investments of $ 2.5 bn Petrobras still has not defined the number of areas that will be offered for joint ventures.
Petrobras sources informed that the areas that arouse more interest are located in Campos (State of Rio de Janeiro), Espirito Santo and Santos (Sao Paulo), where the company has recently discovered a big oilfield. One of Petrobras' future strategies is to sell (farm out) oilfields that provide low profitability.

Source: Sabi via Newspage
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