Brazil’s Petrobras Exchange Technology with Mexico’s Pemex

Petrobras deep oil exploration off the coast of Bahia, Brazil The president of Brazilian state-controlled oil company Petrobras, Sérgio Gabrielli, is in Mexico to discuss technology transfer agreements with Petróleos Mexicanos (Pemex), Petrobras' Mexican counterpart.

He accompanied President Luiz Inácio Lula da Silva, who is on a six-day, five-country tour of Latin America to sell Brazil's ethanol and biofuel technology.

The Petrobras chief will meet businessmen and government officials in Mexico. "We want to broaden our presence here, therefore we are willing to exchange technology and to establish long term relations," Gabrielli told reporters.

According to him, Petrobras possesses know-how in deep water oil exploration, which interests the Mexican oil company. Pemex, on the other hand, has knowledge in carbonate reservoirs, which attracts the attention of Petrobras.

"We have no experience in the field. We want to learn more about these technologies," said the president of the Brazilian company.

Presently, Petrobras produces 1 million cubic meters of natural gas per day in Mexico. The company has been present in the country since 2003, as a contract operator for natural gas Exploration and Production services in the Cuervito and Fronteirizo onshore blocks, in partnership with the Japanese Teikoku Oil and the Mexican Dia Vaz.

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