Petrobras – Memorandum of Understanding with Shell

Rio de Janeiro, September 8th, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that has signed, today in Holland, a Memorandum of Understanding (MoU) with Shell Exploration Company (West) B.V., a Royal Dutch Shell subsidiary, to establish a mutual long-term collaboration, with operational focus, in assets which are already operated in partnership between the two companies.

The MoU aims is the sharing of best practices and lessons learned regarding cost reductions in well construction activities, logistics and safety in air transportation.

In addition, a committee of representatives of Shell and Petrobras will be set up to jointly assess activities that enables the continuous development of operational processes.

Currently, Petrobras and Shell are partners in 10 (ten) exploration and production consortia, each one operating in 5 blocks.

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