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SAUDI ARABIA - Saudi Aramco-Petrobras JV.

APS Review Downstream Trends,  October, 2007  

Tags: oil, Petrobras

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Saudi Aramco and Petrobras are launching a downstream JV to tackle technological issues around heavy crude oil and olefin production. About half of Petrobras' 13 bn barrel reserves are derived from heavy oil and Saudi Aramco is looking to harness the Brazilian IOC's expertise as part of plans to target heavy crude oil production of 1.05m b/d by 2010.

Petrobras, which in 2007 embarked on an $11.4 bn plan to double its heavy oil ...

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