Under the agreement, the companies will carry out studies, exchange information, and negotiate concession agreements. Petrobras and Total’s technical teams will analyze the projects’ viability, including aspects such as the environment, and legal, technical, and economic issues. If the viability is confirmed and approved, a project development evaluation will be undertaken, and Petrobras will become the operator.
The cooperation between the companies will also allow for technology exchanges. Petrobras which claims to own the world’s most advanced oil shale oil extraction process, Processo Petrosix, has an industrial scale unit operating commercially since 1991. Total, meanwhile, has oil improvement technology and deep knowledge of the region where the projects of interest are located.
Petrobras said that the scenario of scarcity and the high oil prices have attracted attention and investments to oil shale. The cooperation agreement between Petrobras and Total has significant representation to develop new oil production units with oil shale processing.
