Petrobras signs a protocol of intent with CNCEC

Petrobras signs a protocol of intent with CNCEC

Petrobras (PETR3; PETR4) recently announced the signing of a Protocol of Intent with China National Chemical Energy Corporation (CNCEC), which took place yesterday. The Protocol covers several areas, with a particular focus on renewable energy and energy transition.

According to the state-owned company, the partnership also includes evaluating potential commercial agreements in the field of oil exploration, fertilizer production from natural gas and other sources, production development, refining, biorefining and petrochemicals, engineering, construction and services, in addition to research, development and innovation. The statement stated that the agreement will last for two years and will begin immediately with the joint analysis of fertilizer and petrochemical assets.

Petrobras (PETR3; PETR4)

Also yesterday, the state-owned company and BP signed a memorandum of understanding to explore cooperation and business opportunities in areas such as sustainable fuels, carbon credits, biorefining, exploration and production, the Brazilian oil company announced in a statement on Thursday.

The statement added: “In addition, the two companies aim to cooperate in research, development and innovation projects.”

Petrobras and BP are partners in exploration blocks, including Alto de Cabo Frio Central, in the Campos Basin, and the Barreirinhas Basin, all of which are operated by Petrobras.

Platforms

Furthermore, Petrobras executives said Thursday that construction of modules for two of the company's platforms, which would be some of the largest platforms the company has ever built, could take place in Brazil. This is happening as the oil company seeks to be a pillar in the recovery of the Brazilian maritime sector.

The P-84 and P-85 platforms, which have a capacity to produce about 225,000 barrels of oil per day, are scheduled to become operational at the beginning of 2029, in the Atapu and Sibia fields, both in the Santos Basin, according to Bloomberg News. With executives.

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Currently, Brazil has the capacity to manufacture equipment and parts for oil production platforms, as well as integrate units made abroad, but it still does not have the technology and infrastructure needed to build a complete platform.

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About the Author: Camelia Kirk

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