Shell, Petrobras To Cooperate In Developing Brazil’s Pre-Salt Fields

Shell and Petrobras have signed an agreement to set up a long-term cooperation initiative to develop pre-salt fields in Brazil, the Anglo-Dutch oil major said on Monday. Under the memorandum of understanding (MoU), Shell and Petrobras will share expertise and experience in technical and operational solutions, contract management, cost efficiency initiatives, and deepwater experience. The cooperation deal is for five years and can be additionally extended. “Competitive growth of deep-water resources remains key to our company’s strategy…

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