#CNPC eyes #oil #investments in Brazil

A subsidiary of state-owned China National Petroleum Corporation has begun talks on developing deposits in an oil-rich region off the coast of the Brazilian state of Sao Paulo, a media report said.
The vice president of CNPC Manufacturing, Zhang Hanliang, Tuesday met Sao Paulo Gov. Geraldo Alckmin to discuss rules and guidelines for the Chinese investment, although the amount of the planned outlay was not revealed.
‘China has a clear interest in the oil of the Santos basin. We already have some partners who will help (meet requirements on the proportion of domestically produced) parts and equipment to make production in Brazil viable,’ Zhang said in statements published by Folha de Sao Paulo’s online edition.

>> Read full story

>>Global E&P partnerships will be discussed at the World Independent and Junior Oil & Gas Congress Asia, 29-30th November in HK

>>Download brochure