- Petrobras (NYSE:PBR) signs a partnership deal with Norway's Statoil (STO) to co-operate on opportunities in producing Brazilian oil fields.
- The companies say the agreement allows for the evaluation of joint participation in future tenders for exploration areas and to increase upstream collaboration in producing fields in the Santos and Campos offshore basins.
- PBR CEO Pedro Parente points out that STO boasts high levels of oil recovery in its producing fields; STO CEO Eldar Saetre says the agreement reflects the company's long-term commitment to Brazil and PBR.