Brazil’s Petrobras signs agreements with Chinese groups Sinopec and Sinochem

18 April 2011

Beijing, China, 18 April – The chairman of Petrobras, Sérgio Gabrielli de Azevedo, and the Brazilian oil company’s director for Exploration and Production, Guilherme Estrella, Friday in Beijing signed two agreements with Chinese groups Sinopec (China Petrochemical Corporation) and Sinochem (Sinochem Corporation), as pat of an official visit to China by Brazilian President Dilma Rousseff.

With Sinopec Petrobras signed a technological cooperation agreement to share information in the areas of geophysics, geology and engineering of oil tanks and with Sinochem it signed a memorandum of understanding to identify deals in the areas of production and exploration sale of oil and renewal of mature oil fields, the company said in a statement.

Petrobras and Sinopec said that they were available to find business opportunities in several areas, thus expanding the commercial relationship between the two companies. (macauhub)