3R Petroleum and PetroReconcavo are pouring cash into revitalising operations at their onshore assets in Brazil and have recently teamed up to co-ordinate efforts and initiatives in the mature Potiguar and Reconcavo basins.

The two Brazilian independents have signed a memorandum of understanding to assess opportunities for sharing facilities and resources related to their oil and gas producing assets in a bid to increase operational, logistical and commercial efficiency.

“It seems clear that we can only gain from this agreement.