Petrobras and Equinor Sign Investments Focused on Natural Gas Thermal Power Generation Projects

Petrobras informs that, continuing the Strategic Partnership established on 12/18/2017, it signed today with Equinor ASA – Equinor, located in Oslo, Norway, a Memorandum of Understanding (“MOU”) focused on the joint development of business related to the value chain of natural gas produced from partnership projects.

Main Objective of This Partnership Between Petrobras and the Norwegian Company

One of the main objectives of the MOU is to maximize value in the downstream segment of both companies, through projects for natural gas thermal power generation, as well as conducting feasibility studies on gas processing assets and liquid transportation in the areas of TECAB (Cabiúnas Terminal in Macaé, RJ) and COMPERJ (Petrochemical Complex of Rio de Janeiro in Itaboraí, RJ), where there is a natural gas processing unit (UPGN) under construction, both belonging to Petrobras. These locations have the potential to become significant natural gas hubs in the country in the coming years.

The MOU was signed in Rio de Janeiro by Petrobras president, Roberto Castello Branco, and Equinor CEO, Eldar Saetre, with the purpose of confirming the intention of the parties to combine efforts in investments in the segments of natural gas, liquefied natural gas (LNG), and electricity generation. And although it is non-binding in nature, it indicates the intention of both companies to work together to develop projects in these segments.

Currently, Petrobras and Equinor are partners in the Roncador field and in the exploratory blocks BM-C-33, Dois Irmãos, and C-M-709 among others, and the establishment of this MOU strengthens the relationship between the parties, being aligned with Petrobras’ Business Plan.

Source: Press Management Petrobras