UK-based global energy giant Shell has signed an agreement with Brazil’s state-owned oil and gas company Petrobas to explore new upstream and energy transition options.
Affirmed through the signing of a five-year Memorandum of Understanding (MoU), the companies will focus their joint efforts on oil and gas exploration potential ‘within and outside’ the pre-salt region, including the Equatorial Margin.
In addition to collaborating on a range of carbon reduction strategies, the partners will examine renewable energy and carbon capture, utilisation and storage (CCUS) as well as discussing plans to provide carbon credits to offset emissions.
Commenting on the agreement, Jean Paul Prates, CEO of Petrobas, said, “Being able to rely on partners, such as Shell, is vital for Petrobras’s future plans, because partners can add their strength to areas where the company is looking for profitable diversification, such as renewables and hydrogen.”
... to continue reading you must be subscribed
