Brazilian oil giant Petrobras has signed a memorandum of understanding (MoU) with Royal Dutch Shell to establish a long-term mutual collaboration in assets already operated in partnership by the two companies.
Petrobras said last Friday that the deal was signed with Shell Exploration Company (West) B.V., a subsidiary of Royal Dutch Shell, aiming to share best practices and lessons learned regarding cost reductions in well construction activities, logistics, and safety in air transportation.
Also, a committee of representatives of Shell and Petrobras will be set up to jointly assess activities, enabling the continuous development of operational processes.
The document was signed by Petrobras president Pedro Parente and Shell CEO Ben Van Beurden during a visit to Shell’s facilities in the Netherlands by the Brazilian oil company’s executives.
Currently, Petrobras and Shell are partners in ten exploration and production consortia, each one operating in five blocks.