Petrobras signed agreements with Chinese companies Sinopec (China Petrochemical Corporation) and Sinochem (Sinochem Corporation). The agreements were part of the business agenda established during the official visit of President Rousseff to China.
With Sinopec, Petrobras signed a cooperation agreement for exchange of technological knowledge in the fields of geophysics, geology, engineering and oil reservoirs.
With Sinochem, Petrobras signed a Memorandum of Understanding for Strategic Cooperation with the objective to identify and facilitate business opportunities in the areas of exploration and production, marketing and oil recovery from mature fields.
Petrobras and Sinopec have expressed willingness to seek business opportunities in several areas, expanding commercial relations existing between the two companies. President Gabrielli highlighted the importance of Chinese companies establishing themselves in Brazil. Sinopec’s president said his company’s interest in partnering in exploration and production.