Petrobras and ExxonMobil establish strategic alliance

The MoU, signed recently in Rio de Janeiro by Pedro Parente, Petrobras president, Brad Corson, president of ExxonMobil Upstream Ventures, and Stephen Greenlee, president of ExxonMobil Exploration Company, sets out how the energy companies can work together across all areas of the oil and gas value chain, including exploration, production, gas and chemicals.
For Petrobras, the formation of alliances is an important element in its Business and Management Plan 2017-2021 because strategic tie-ups bring benefits in areas including risk sharing, greater investment capacity, technology sharing, and strengthening of corporate governance, the companies said.
In September, Petrobras and ExxonMobil jointly acquired six offshore blocks in the Campos Basin in the Brazil National Agency of Petroleum’s 14th tender round. The Brazilian energy company currently produces close to 2.8m barrels of oil equivalent a day.