Petroleo Brasileiro, Brazil's state-controlled oil company, said it is discussing "strategic cooperation" with PetroChina.
The company may sign an initial agreement with China's biggest oil producer by the end of this year, said Henyo Barretto, president consultant at Rio de Janeiro-based Petrobras. The accord will cover exploration and refining.
Chinese oil companies have increased exploration to counter lower output from maturing fields. PetroChina this month gave details of China's largest oil discovery in half a century. Parent China National Petroleum Corp signed a cooperation accord with Norway's Statoil in February.
"PetroChina has many opportunities to work together with us in China, in Asia and in general," Barretto said in Beijing Tuesday. Petrobras is hoping to collaborate with PetroChina in South China Sea deepwater exploration.
Petrobras plans investment of US$52.4 billion (HK$408.72 billion) between 2006 and 2010, with US$3.1 billion of that spending allocated to projects outside Brazil, he said during the Global Energy Forum.
CNPC signed an initial accord February 1 to cooperate with Petrobras on exploration, refining and other business in China and Brazil, China Business News reported.
Petrobras is also in talks with the Export and Import Bank of China and China Petroleum & Chemical Corp about building natural gas pipelines linking Brazil's northeast and southeast, the paper said. Sinopec (0386), as China Petroleum & Chemical is known, is the nation's second-largest oil company.
The Brazilian state oil company is in talks with CNOOC (0883), China's largest offshore oil producer, about potential offshore oil exploration projects, Petrobras China project manager Han Chia Kang said earlier in Beijing.
China National Offshore Oil Corp, parent of Hong Kong-listed CNOOC, will offer 22 areas to foreign companies for drilling this year, nine more than in 2006, the Beijing-based group said in March.
PetroChina said earlier this month that its newly discovered Jidong Nanpu field in Bohai Bay may hold about 7.5 billion barrels of oil equivalent.
The company may sign an initial agreement with China's biggest oil producer by the end of this year, said Henyo Barretto, president consultant at Rio de Janeiro-based Petrobras. The accord will cover exploration and refining.
Chinese oil companies have increased exploration to counter lower output from maturing fields. PetroChina this month gave details of China's largest oil discovery in half a century. Parent China National Petroleum Corp signed a cooperation accord with Norway's Statoil in February.
"PetroChina has many opportunities to work together with us in China, in Asia and in general," Barretto said in Beijing Tuesday. Petrobras is hoping to collaborate with PetroChina in South China Sea deepwater exploration.
Petrobras plans investment of US$52.4 billion (HK$408.72 billion) between 2006 and 2010, with US$3.1 billion of that spending allocated to projects outside Brazil, he said during the Global Energy Forum.
CNPC signed an initial accord February 1 to cooperate with Petrobras on exploration, refining and other business in China and Brazil, China Business News reported.
Petrobras is also in talks with the Export and Import Bank of China and China Petroleum & Chemical Corp about building natural gas pipelines linking Brazil's northeast and southeast, the paper said. Sinopec (0386), as China Petroleum & Chemical is known, is the nation's second-largest oil company.
The Brazilian state oil company is in talks with CNOOC (0883), China's largest offshore oil producer, about potential offshore oil exploration projects, Petrobras China project manager Han Chia Kang said earlier in Beijing.
China National Offshore Oil Corp, parent of Hong Kong-listed CNOOC, will offer 22 areas to foreign companies for drilling this year, nine more than in 2006, the Beijing-based group said in March.
PetroChina said earlier this month that its newly discovered Jidong Nanpu field in Bohai Bay may hold about 7.5 billion barrels of oil equivalent.