US-based energy giant and LNG player ExxonMobil and Brazil’s state-controlled Petrobras said on Thursday they had formed an alliance to develop oil and gas projects around the world.
The memorandum of understanding was signed in Rio de Janeiro by Pedro Parente, president of Petrobras, Brad Corson, president of ExxonMobil Upstream Ventures, and Stephen Greenlee, president of ExxonMobil Exploration Company.
Petrobras and ExxonMobil will “evaluate areas of mutual interest that can bring together their world-class experience across all sectors of the oil and gas production value chain, including opportunities for cooperation in exploration, production, gas and chemicals both inside and outside Brazil,” the duo said in a statement.
Worth mentioning, this deal comes two months after Petrobras and ExxonMobil jointly acquired six offshore blocks in the Campos Basin in the Brazil National Agency of Petroleum’s 14th tender round.