Brazil’s Petrobras and Norway’s Statoil ASA have signed an agreement to expand co-operation in oil and gas exploration and in other activities, which may include natural gas commercialisation in foreign markets. Statoil wants to make South America’s largest country its most important foreign production area, executives said.
“We want production of 100,000 barrels in Brazil in the long term,” said Ottar Rekdal, executive vice president of Statoil’s international exploration and production division. “We can see Brazil developing into one of the most important areas outside of Norway.”
Rekdal said one possibility would be to participate in a new liquefying plant in Rio de Janeiro state to process natural gas from Brazil’s prolific Santos Basin, which would then be exported to the United States. “We are looking at co-operating with Petrobras in the commercialisation of the gas discoveries made in Brazil,” he said.
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