Shell, Petrobras sign MoU develop pre-salt fields in Brazil

Shell, Petrobras sign MoU to develop pre-salt fields in Brazil

7:03 AM, 13th September 2017
Shell logo
Logo of the company Shell seen at a retail site in US. (File photo)

THE HAGUE, NETHERLANDS: Royal Dutch Shell plc and Petroleo Brasileiro SA (Petrobras) has signed a memorandum of understanding (MoU) to establish a long-term mutual collaboration in developing pre-salt fields in Brazil. 

In true partnership spirit between two of the world’s largest energy companies, Shell will benefit from technical solutions, contract management expertise and cost-efficient initiatives Petrobras applies to Brazil’s pre-and post-salt projects. Shell will share with Petrobras its global deep-water experience, especially on cost efficiency efforts and use of technology. 

The document was signed by Shell CEO Ben Van Beurden and Petrobras CEO Pedro Parente.

The MoU also involves sharing best practices and learnings on safety and governance management, technical and operational solutions, contract management, logistics, wells construction and air transportation safety.  

The agreement is valid for five years and can be renewed. Shell is a strategic partner of Petrobras in the pre-salt, with minority interests in the Libra and Lula fields and other important areas such as Sapinhoa, Lapa, and Iara, all of which are in Santos Basin.

“Competitive growth of deep-water resources remains key to our company’s strategy for decades to come, and we’re very pleased to advance the technical and operational benefits of our joint-ventures with Petrobras in Brazil,” said Wael Sawan, executive vice-president, deep water for Shell.

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