Petrobras, Enap Sign Cooperation Deal

Petrobras has signed a cooperation agreement with the Chilean Empresa Nacional del Petroleo (Enap) national oil company to pursue joint business and project opportunity development in all areas of the hydrocarbon and energy industry.

Petrobras' president, Jose Sergio Gabrielli de Azevedo, and Enap general manager, Enrique Davila Alveal, signed the document, which was announced during a ceremony held in Chile during a meeting between Brazilian President Luiz Inacio Lula da Silva and Chilean President Michelle Bachelet. Petrobras' executive manager for the Southern Cone, Decio Oddone, and Enap representatives also participated in the event.

The agreement will be in effect for two years and foresees joint project and business development in Brazil, Chile, and other countries of interest in the hydrocarbon and energy area-- including in hydrocarbon exploration and production, refining, and transportation, and in the petrochemical industry. Special attention will be given to biofuel, liquefied natural gas (LNG), and Pacific Platform exploration projects.

An evaluation committee, which will hold periodic follow-up meetings, will be constituted to materialize the agreement. This committee will be in charge of defining, identifying, and incorporating businesses and projects in a Work Program, over and beyond analyzing possibilities to develop new integrated projects.