During a ceremony held in the presence of the president of Brazil, Luiz Inácio Lula da Silva, and Norway Oil & Energy Minister, Odd Roger Enoksen, Petrobras' president, José Sergio Gabrielli de Azevedo, and Statoil president and CEO, Helge Lund, signed a Memorandum of Understandings (MOU) in the biofuel and exploration & production (E&P) areas this Friday (09/14), in Oslo, Norway.

In the biofuel area, the document foresees technology research & development cooperation for ethanol production from lignocellulose and for biodiesel manufacturing, in addition to a partnership for ethanol production in Brazil and for the fuel's exports to European countries. The MOU includes measures aimed at guaranteeing the biofuel productive chain's sustainability, such as assessments of the socioenvironmental impact ethanol production has and ethanol certification requirement definitions.

In E&P, meanwhile, there will be joint participation in exploration, development and production projects, both in areas that are already in the companies' project portfolios, and in new investment opportunities in several countries. New high-complexity technological project development in ultradeep waters is also foreseen.

The MOU consolidates the approximation between Petrobras and Statoil and allows for integrated performance opportunities in which each company may contribute with specific knowledge and technologies.

Petrobras' International Business Area director, Nestor Cerveró, its Exploration & Production (E&P) director, Guilherme Estrella, and its Downstream director, Paulo Roberto Costa, also attended the event.

Statoil is a oil & gas company controlled by the Norwegian State. The company has operations in 33 countries, including Brazil, where it holds concessions for nine exploration & production agreements, seven of which in partnership with Petrobras.