Petrobras and Equinor Sign Offshore Wind MoU in Brazil

Brazilian oil & gas major Petrobras has signed a Memorandum of Understanding (MoU) with the Norwegian energy company Equinor to jointly develop the offshore wind energy segment in Brazil.

Under the strategic partnership already entered into between the two companies, Petrobras and Equinor have been investigating other potential areas of cooperation, including the development of renewable energy initiatives.

“This step we have taken today is a source of pride for all of us and further strengthens our strategic partnership with Equinor,” said the director of Strategy, Organization and Management System of Petrobras, Nelson Silva, during the signing of the memorandum of understanding, at the Rio Oil & Gas Conference in Rio de Janeiro.

”Brazil has huge potential for offshore wind power generation and we want to take advantage of this potential together with Equinor, which is the oil company that has the most experience in the matter, always observing the discipline of capital and the economic logic. “

Joint studies with Equinor are part of Petrobras’ strategy to develop high-value renewable energy businesses in partnership with large global players, aiming at the transition to a low carbon matrix.

This memorandum of understanding does not establish obligations for the parties to undertake any concrete steps, but indicates the intention of the companies to work together to develop projects in the offshore wind energy segment.

Petrobras is currently looking into developing an offshore wind pilot project in Rio Grande do Norte state, expected to be up and running by 2022.