Brazil's Petrobras, Iran in Talks about Offshore Drilling

RIO DE JANEIRO Jan 22, 2007 (Dow Jones Newswires)

Brazil's state-run oil firm Petroleo Brasileiro SA (PBR), or Petrobras, is in talks with Iran to become a service provider in Caspian Sea deep offshore drilling, a company press official said Monday.

State-run National Iranian Oil Co. had shown interest in a cooperation with Petrobras which has a better expertise in deep and very deep offshore drilling, the press official said.

No deal has been reached yet, though.

The press official had no further detail and couldn't provide the value of a possible service provided by Petrobras.

Copyright (c) 2007 Dow Jones & Company, Inc.

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