Petrobras and Shell celebrate positive results of agreement at CERAWeek

On Monday (3/18), at a meeting between Petrobras President Jean Paul Prates and Shell CEO Wael Sawan, Petrobras celebrated one year since signing a memorandum of understanding with the company, during CERAWeek, a global energy conference taking place until 3/22 in Houston, Texas. The document was signed by the two companies with the aim of identifying potential business opportunities and sharing experiences and best practices in reducing carbon emissions and social and environmental initiatives.
 
As a result of the agreement signed a year ago, a stake was acquired in three exploration blocks operated by Shell in São Tomé and Principe, Africa, as well as the joint acquisition of 29 blocks in the Pelotas Basin, offered in the ANP's 4th permanent bid cycle in December 2023.

"This memorandum of understanding enables even greater cooperation between the companies, which share the goal of meeting energy needs responsibly and progressively decarbonizing their operations. In addition, this agreement is nothing more than the materialization of joint action in business opportunities to maximize the value of our portfolio and cooperation in socio-environmental studies, which help us to make the fair energy transition possible," said Jean Paul Prates.

About the MoU - The agreement signed by Petrobras and Shell is known as a MoU (Memorandum of Understanding), is valid for five years, and is non-binding, i.e., it establishes the main points of a future understanding but does not create legal obligations. The MoU establishes Petrobras' and Shell's collaboration on issues such as exploration inside and outside the pre-salt area and in the Equatorial Margin. It also includes initiatives related to the energy transition and social investment projects.
 
About CERAWeek: CERAWeek is one of the main events in the energy sector and brings together leading companies to discuss industry issues such as oil and gas markets, renewable energy, emerging technologies, geopolitics, and sustainability.