On Tuesday, at Petrobras headquarters in Rio de Janeiro, Financial and Investor Relations Director of Petrobras, Almir Barbassa, was host to Wenche Nistad, President of the Garanti-Instituttet for Eksportkreditt (GIEK), the Norwegian export credit agency.
They signed a Memorandum of Understanding aimed at promoting closer institutional cooperation. The MoU allows for up to US$ 1 billion in credit guarantees to cover exports from Norwegian companies to Petrobras as part of the company’s financing strategy for projects in the 2012-2016 Business and Management Plan.
A previous MoU signed by Petrobras and GIEK in 2010 resulted in the provision of US$ 1 billion in guarantees by the Norwegian agency, enabling Petrobras to finance goods and services from Norwegian companies in the oil and gas sector.
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LNG World News Staff, January 16, 2013; Image: Petrobras