Portugal’s Galp Energia and Brazil’s Petrobras studying partnership for Africa and Venezuela

19 October 2009

Porto, Portugal, 19 Oct – Brazilian oil company Petrobrás and Galp Energia are negotiating “the expansion of a partnership” for prospecting and extraction of oil in Brazil to projects in Africa and Venezuela, the president of the state-owned Brazilian company said in the Portuguese city of Porto Friday.

“We are studying partnerships for Africa and Venezuela,” said José Sérgio Gabrielli, on the sidelines of a ceremony to give an honorary doctorate to geologist Guilherme de Oliveira Esrella, the current Exploration and Production director for the Brazilian oil company.

The president of Petrobrás added that, negotiations with Galp Energia included project that the Brazilian company had in Africa countries such as Angola, Senegal, Nigeria, Namibia, Libya and Tanzania.

After a meeting with the chairman of Galp, Ferreira de Oliveira, the president of Petrobrás noted that the two companies would continue with a partnership for the area of biofuels, which would be in place by the end of the year.

The idea is to produce in both countries, but first we have to plant,” said Gabrielli, declining to give further details about this business area.

The chairman of Galp Energia, Ferreira de Oliveira declined to comment on the meeting with the company’s Brazilian partner. (macauhub)