Braspetro
Encyclopedia
Braspetro was a Brazil
ian state company. It was founded in 1972, as a subortinated company of Petrobras
, with the responsibility to find and produce oil outside Brazil
(since Petrobras had a monopoly over Brazilian oil production at the time, it was forbidden to act on its own internationally by law). Its biggest discovery was Majnoon Field
in Iraq
.
Braspetro was incorporated by Petrobras, replaced by its International Board, although it still formally exists as PIB BV - Petrobras Internacional - BRASPETRO, a Dutch
holding which controls Petrobras participations in foreign countries and is 100% owned by Petrobras.
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
ian state company. It was founded in 1972, as a subortinated company of Petrobras
Petrobras
Petróleo Brasileiro or Petrobras is a semi-public Brazilian multinational energy corporation headquartered in Rio de Janeiro, Brazil. It is the largest company in Latin America by market capitalization and revenue, and the largest company headquartered in the Southern Hemisphere by market...
, with the responsibility to find and produce oil outside Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
(since Petrobras had a monopoly over Brazilian oil production at the time, it was forbidden to act on its own internationally by law). Its biggest discovery was Majnoon Field
Majnoon Field
Majnoon Oil field is a super-giant oil field located from Basra, Basra Governorate in southern Iraq. Majnoon is one of the richest oil fields in the world with an estimated 23-25 billion and proven reserves of 12.6 billion of barrels of oil in place...
in Iraq
Iraq
Iraq ; officially the Republic of Iraq is a country in Western Asia spanning most of the northwestern end of the Zagros mountain range, the eastern part of the Syrian Desert and the northern part of the Arabian Desert....
.
Braspetro was incorporated by Petrobras, replaced by its International Board, although it still formally exists as PIB BV - Petrobras Internacional - BRASPETRO, a Dutch
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
holding which controls Petrobras participations in foreign countries and is 100% owned by Petrobras.