Petrobras, Shell in E&P tie-up

Brazilian oil giant Petrobras has signed a memorandum of understanding (MoU) with Royal Dutch Shell to establish a long-term mutual collaboration in developing pre-salt fields in Brazil. 

Petrobras said last Friday that the deal was signed with Shell Exploration Company (West) B.V., a subsidiary of Royal Dutch Shell, aiming to share best practices and lessons learned regarding cost reductions in well construction activities, logistics, and safety in air transportation.

Also, a committee of representatives of Shell and Petrobras will be set up to jointly assess activities, enabling the continuous development of operational processes.

The document was signed by Petrobras president Pedro Parente and Shell CEO Ben Van Beurden during a visit to Shell’s facilities in the Netherlands by the Brazilian oil company’s executives.

Currently, Petrobras and Shell are partners in ten exploration and production consortia, each one operating in five blocks. The agreement is valid for five years and can be renewed. Shell is a strategic partner of Petrobras in the pre-salt, with minority interests in the Libra and Lula fields and other important areas such as Sapinhoá, Lapa, and Iara, all of which are in Santos Basin.

“Competitive growth of deep-water resources remains key to our company’s strategy for decades to come, and we’re very pleased to advance the technical and operational benefits of our joint-ventures with Petrobras in Brazil,” said Wael Sawan, Executive Vice-President, Deep Water for Shell. “We’ve seen cost, safety, innovative thinking, and production growth evolve in a very positive way.  Preferred partnerships and shared expertise are core to that success.”

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply