Exxon, Petrobras Form Alliance to Develop Oil, Gas Projects

Dec 15, 2017

Exxon Mobil Corp and Petróleo Brasileiro SA, Brazil's state-controlled oil producer also known as Petrobras, said on Thursday they had formed an alliance to develop energy projects around the world.

The deal, which was signed in Rio de Janeiro, will have the companies study ways they can cooperate on exploration, production and chemical ventures inside and outside of Brazil.

The deal comes two months after Exxon and Petrobras were jointly awarded six oil-rich blocks in Brazilian coastal waters.

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