On January 15th at Petrobras headquarters in Rio de Janeiro, Financial and Investor Relations Director, 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 final agreement, if reached, will allow 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.
– To facilitate the buyers financing of investment in Norwegian goods and services by issuing guarantees, has become a gradually more important way of promoting Norwegian exporters, says Nistad. The existing agreement has been of vital importance to Norwegian exporters, she says, being optimistic towards the cooperation now entered into with Petrobras.
A previousagreement 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.
For more information see: http://www.giek.no/nyheter/giek_og_petrobras_inngar_samarbeidsavtale/no