Brazil To Expand To Asia

Brazilian petroleum company Petrobras and China National Offshore Oil Corporation (CNOOC) are negotiating the possibility of cooperative deep water oil explorations in China.
Petrobras CFO Jose Sergio Gabrielli de Azevedo gave no further details.

Besides of the deal with CNOOC, Petrobras has signed an exploration and production agreement with another Chinese company Sinopec to develop oil fields in Africa.

China is the only potential oil exploration prospect Petrobras is looking at in Asia.