Brazil: Petrobras CEO, UK Prime Minister Discuss Cooperation Opportunities

This Thursday Petrobras’ CEO, Maria das Graças Silva Foster, welcomed United Kingdom Prime Minister, David Cameron, to the Company’s main office building in Rio de Janeiro. The aim of the visit, which also included a delegation of British businessmen, was to discuss possible opportunities for business and cooperative projects between UK industry and Petrobras.

During the event, Graça Foster presented Petrobras’ 2012-2016 Business Plan, which covers total investments of $236.5 billion. The Prime Minister and UK executives spoke about trade relations between the United Kingdom and Brazil.

David Cameron highlighted the Brazilian oil and gas industry’s enormous capacity and opportunities for British companies to work with Petrobras and help develop the sector. Graça Foster stressed the importance of the local content policy being pursued in Brazil, but affirmed that, with so many projects under way, there was ample space for British Industry. “We have huge potential in oil and gas, an enormous challenge ahead of us and a national sourcing policy, but we are still open to British goods and services,” she affirmed.

The British delegation included the British Ambassador to Brazil Alan Charlton, the Minister of State for Trade and Investment Lord Green, the Minister of State for Latin America Hugo Swire, chief of staff John Casson and National Security Advisor Kim Darroch, in addition to representatives of corporations with links to the oil and gas industry.

Attending the meeting on behalf of Petrobras were Engineering, Technology, and Materials Director José Antônio de Figueiredo, Exploration and Production Director José Formigli, CFO and Investor Relations Officer Almir Barbassa, Gas and Energy Director Alcides Santoro and the advisor to the Cabinet of the President André Ghirardi. Brazilian Ambassador to Great Britain Roberto Jaguaribe and Itamaraty Liaison diplomat Flávio Mello also participated.

Press Release, September 28, 2012

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