Brazil’s Petrobras signs agreement for oil exploration in Mozambique

31 October 2006

Rio de Janeiro, Brazil, 31 Oct – Brazilian oil giant, Petrobras said Monday it had signed an agreement with Mozambican state oil company, ENH, for joint exploration of oil and natural gas in Mozambique.

The agreement, signed Friday in Rio de Janeiro by the boards of both companies, included joint research to produce biodiesel in Mozambique.

Currently, Petrobras is involved in an oil bloc in Mozambique together with Malaysia’s Petronas, in the Zambezi delta.

The Petrobras statement also said that ENH was a company with “experience in developing oil activities and has a broad knowledge of the geophysics and geology of Mozambique’s sedimentary basins.”

The memorandum was signed by the executive manager for international business development of Petrobras, Luís Carlos Moreira, and by the chairman of the board of ENH, Issufo Anuar Daúfo Abdula. (macauhub)