Oil and Gas Resources
The national oil companies of Brazil and Mozambique, Petrobras and ENH respectively, have signed a memorandum of understanding to cooperate in the assessment and development of oil and gas resources.
This agreement coincided with a visit to Brazil by the Mozambican President, Daniel Chapo, who spoke at Rio Oil & Gas 2026.
“We are not just looking for suppliers. We are looking for partners,” said Chapo, highlighting Brazil’s expertise in areas such as deepwater operations, subsea systems, large-scale project engineering, manufacturing, offshore logistics, maintenance and supply chain development.
He framed the agreement as part of a broader push to industrialise Mozambique, which would benefit from Petrobras’ technology and international experience.
The agreement is also timely for Petrobras, as the company looks to expand its activities internationally in order to replenish its reserves.
In June, Petrobras signed a similar agreement with Mexico’s Pemex to assess exploration and development opportunities in the deepwater and ultra-deepwater regions of the Gulf of Mexico.
The company also announced offshore discoveries on Brazil’s Amapá Coast and in Colombia in August. Petrobras has also recently redeemed USD 1.08 billion of its outstanding bonds using cash on hand.
