Petrobras, Brazilian Navy Renew Research Agreement for Brazilian Coast

RIO DE JANEIRO, BRAZIL – Petrobras signed, on Wednesday, August 7th, an agreement with the Brazilian Navy to invest nearly R$400 million (US$110 million) in research on the Brazilian coast, the so-called Blue Amazon, and in the Antarctic.

The signed cooperation pact renews the cooperation of the state-owned oil company with the Navy for another five years, which has already existed for over 30 years, according to the company.

According to Petrobras, the partnership, which is backed by the National Petroleum, Natural Gas and Biofuels Agency (ANP), aims to stimulate research to ensure the exploration and sustainable use of marine resources.

In addition to financial support, the state-owned company also cooperates with technical support and participates in a number of scientific missions carried out by the Navy. Petrobras’ investments will be carried out in the Sectorial Plan for Sea Resources in the Brazilian Antarctic Program.

Related coverage: Brazilian Industry Records Declining Production in June · Silicon Valley Fintech Financing Cellphones Coming to Brazil by Late 2019 · Official Inflation for Month of July is Lowest in Five Years · Brazilian Supreme Court Justice Bars Investigations Into Glenn Greenwald

More: Brazil news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error

Brazil runoff, Sunday, October 25: Brazil runoff date. Latest: Brazil runoff polls, Flávio 51%, Lula 49%.