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Posted 26.05.2011 08:39:07 av John Bradbury
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Statoil and Brazil's Petrobras have signalled their intention for further cooperation on exploration under a letter of intent.

Statoil chief executive Helge Lund was in Brazil to sign the LOI with Petrobras E&P  chief Guilherme Estrella which allows for joint acquisition of exploration acreage through public bidding rounds, and for joint screening of operational synergies.

The deal came as Statoil's Peregrino field offshore Brazil was officially inaugurated with a visit by a high level Norwegian delegation including the Minister of Petroleum and Energy Ola Borten Moe and Norway's Crown Prince Haakon Magnus.
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