Publication: SABI - Business News
Provider: South American Business Information
Petrobras is actively negotiating with a group of Japanese trading companies a partnership for the development of the crude reserves of Jubarte field, at the Campos basin, Rio de Janeiro state, a project involving investments of US$2bil - US$3bil. Jose Gabrielli, chairman Petrobras, commented the companies would discusss a project finance scheme, operations and even the Japanese joining the crude production through farm-in. Among the prospective partners are Mitsui and Mitsubishi, and negotiations are harmed by the fluctuations of the crude prices. In addition Jubarte has heavy crude oil which adds to the difficulties to estimate a price level over the long term.