Japan Body, Petrobras in Deep-Sea Oil Development Tech Pact

Tokyo, Dec. 17 (Jiji Press)–Japan Oil, Gas and Metals National Corp., or JOGMEC, said Saturday it has agreed with Brazil’s state- owned petroleum company Petrobras to conduct joint research on a deep-sea oil and natural gas development technology.

JOGMEC, an independent administrative organization set up in 2004, expects participation by Japanese companies in the joint research, which will help them acquire concession rights to oil or gas fields in South America, JOGMEC officials said.

The joint research by JOGMEC and Petrobras, or Petroleo Brasileiro SA, will focus on a technology called the floating production, storage and offloading, or FPSO, system, which is expected to enhance oil production capabilities in deep waters.

Petrobras has been stepping up the development of drilling technologies that can be used at locations about 3,000 meters below the surface of the sea, while JOGMEC has research records on the FPSO system.END