Petrobras and the China National Petroleum Corporation (CNPC) have signed a memorandum of understanding to set up a strategic partnership, the Brazilian group said in a statement on Tuesday.

“From now on, the two groups are committed to jointly assessing opportunities in Brazil and abroad in key areas of mutual interest, leveraging capabilities in all segments of the oil and gas chain, including financing,” the statement said.

Petrobras’ business plan for 2017/2021 favours the creation of partnerships as a way to share risks, increase investment capacity and promote technological exchange, as well as to strengthen business capacity.

The Brazilian group recalls in the statement that the China National Petroleum Corporation group in 2013, specifically in the Libra region, was awarded the first contract established under the production sharing regime, located in the pre-salt layer of the Santos basin. (macauhub)