Brazil’s state-owned energy giant Petrobras has signed on the dotted line to consider establishing cooperation with Mexico’s state-owned heavy oil company Petroleos Mexicanos (Pemex) in the hydrocarbon field.
Petrobras signed a memorandum of understanding with Pemex for strategic and technical cooperation to evaluate, develop and jointly implement projects in the hydrocarbon industry, including developing opportunities in the areas of exploration, production and industrial operations, in addition to exchanging experiences on the regulatory and institutional aspects of the sector.
The Brazilian giant confirmed: “The Agreement does not constitute a binding investment commitment, nor does it create a partnership, consortium or joint venture between the parties.
“Any opportunities identified may be subject to future negotiations and will depend on the implementation of specific instruments, and are subject to feasibility analyses, approvals of relevant bodies and governance rules applicable to each party.”
In the exploration and production sector, the two parties will evaluate initiatives aimed at revitalizing mature fields, seismic reprocessing and exploration and development opportunities in deepwater and ultra-deepwater areas, including assets in the Gulf of Mexico.
The partnership involves exchanging technical knowledge, techniques and best practices, and benefiting from the Brazilian company’s experience in highly complex maritime operations. The memorandum of understanding is valid for two years and can be renewed.
The agreement covers cooperation opportunities in the fields of refining, petrochemicals, fertilizers, gas processing, liquid extraction, energy efficiency, emissions reduction, carbon capture and low-carbon intensity fuel production in the industrial zone, in addition to exchanging best practices related to safety, operational reliability and environmental protection.
This memorandum of understanding comes after Petrobras 427 million requests With the Estaleiro Rio Grande shipyard for four medium range oil tankers.
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