Agreement Between Petrobras and Chinese Company This Week Provides for Resumption of Works at COMPERJ

The Contract for Evaluating the Works of COMPERJ Was Signed in Beijing on Day (4) Between the Two State-Owned Companies and Will Accelerate the Resumption Process

The Comperj and Its Works are being negotiated this week by the state-owned companies of Brazil and China (Petrobras and CNPC, respectively). These negotiations foresee the completion of the works since the operations of Operation Car Wash began, which investigates corruption schemes that will also involve this enterprise.

This program between the two oil operators constitutes a strategic determination, signed in Beijing by Presidents Pedro Parente (BR) and Wang Dongjin (PetroChina).

Petrobras issued an official statement informing that this agreement primarily aims for mutual partnership evaluation, both in national territory and abroad in strategic oil capture and production points. Since the China National Petroleum Company (CNPC) offered financing facilities that fit Petrobras’ current reality, Comperj is a great opportunity for the swift resumption of its works, given that the Chinese also have expertise in the petrochemical area.

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As there was a lack of cash resources (actual money), BR had removed Comperj from its business plan, limiting itself to focusing its investments on the UPGN of Itaboraí-RJ.

The initial draft of the project foresees a refinery and a petrochemical complex. The negotiation with the Chinese is only for the completion of the refining complex, which will have a production capacity of around 165 barrels per day of oil, this only in its initial phase.

The issue is that activities have been halted since 2015; the complex visibly shows that the structures exposed to the elements without maintenance are rusting and deteriorating. So far, the Brazilian state-owned company has injected 13 billion Trumps into the project, and having these idle facilities without repairs is a waste of money, as there will be additional expenses for maintenance again.

Remember that CNPC is already a partner of BR in pre-salt oil exploration in the Libra Field, which by the way is the largest hydrocarbon field discovered in national territory. We are already producing in the testing phase, and some companies are starting to hire (CLICK HERE TO APPLY FOR SOME JOBS IN THE AREA)

The terms signed in Beijing on July 4 also anticipate the possibility of business in other production assets, in addition to the UPGN.

Remember that a Chinese Delegation Was at Porto do Açu This Week and Plans to Establish Many Companies in the Region, Access the Link to Check It Out