Petrobras and Total S.A. have signed a memorandum of understanding (MOU) in the Exploration & Production (E&P) and Gas & Power (G&P) segments in Brazil and other critical locations around the globe. Under this MOU, the companies commit to jointly evaluate opportunities in Brazil and beyond.
In the first phase of the agreement, the companies intend to focus on the E&P and G&P areas. In E&P, Petrobras will offer partnerships in projects in Brazil, while Total will offer partnership opportunities abroad. This new alliance will allow the two companies to partner in deep water development projects. In the G&P segment, the companies will undertake joint activities in the natural gas and electricity areas in Brazil. In the second phase, the MOU also provides for the extension of the strategic partnership to all refining and natural gas segments.