Petrobras, Pemex Move to Sign Early Accords for Joint Gulf Oil Campaign
Petrobras and Pemex aim to sign non-disclosure agreements and memorandums of understanding that would open joint studies covering exploration on Mexico's side of the Gulf, oil production and refining, Petrobras chief Magda Chambriard said, according to Rigzone.
Those early documents would set the technical terms for cooperation between the two state-run companies before any binding deal, Chambriard said.
Chambriard spoke after a Wednesday video conference between Brazilian President Luiz Inacio Lula da Silva and Mexican President Claudia Sheinbaum, who discussed energy cooperation that included a possible tie-up between their national oil companies.
Pemex has been courting private partners for joint ventures to lift slumping oil output and ease a debt load of roughly USD 80 billion, according to Rigzone. A deal with Petrobras would bring deepwater capability to Pemex as it works to reverse production declines and repair its balance sheet.
For Petrobras, the talks match its drive to grow its international upstream portfolio and prolong the Brazilian oil boom that began with the 2006 discovery of the pre-salt offshore basin.
The studies would cover exploration, production and refining, Chambriard said.
The Wednesday call between Lula and Sheinbaum placed energy cooperation among the two governments' bilateral priorities, which could clear the way for the oil companies to convert preliminary talks into formal documents.
Source: rigzone.com (opens in a new tab)1 sourcePermalink