Petrobas Receives Credit Line for UK North Sea Investment Program

Oil and Gas companies located in the North Sea will see their business expand by this new bank credit line worth USD 1bn for Petrobas to export to Brazil. Petrobas will go in business with UK-based companies using this new financial guarantee.

Potential investments under consideration include rigs and vessels for exploration, remotely-operated vehicles, control systems, compressors and global positioning services.

Several UK and Scottish government officials commented positively on this potential boost for maritime business.

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Offshore Nieuws Staff,  December 1, 2011;  Image: Petrobas