Shell-Petrobras announce deep water partnership

Shell and Petrobras have signed a Memorandum of Understanding (MoU) to strengthen their deep-water partnership. They aim to share their experiences and best practice, learnings on safety and governance management, […]

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By Priyanka Shrestha

Shell and Petrobras have signed a Memorandum of Understanding (MoU) to strengthen their deep-water partnership.

They aim to share their experiences and best practice, learnings on safety and governance management, technical and operational solutions, wells construction and air transportation safety.

The agreement focuses on sharing cost-efficient solutions in developing pre-salt fields in Brazil.

According to Petrobras, the pre-salt province consists of large accumulations of “excellent quality, high commercial value tight oil”.

Daily oil output at the pre-salt rose from an average of 41,000 barrels per day in 2010 to one million barrels per day in mid-2016.

The agreement is valid for five years and can be renewed.