"Petrobras may assist Iran with development of the South Pars field oil layer in the Persian Gulf, according to a report by news service Shana. This follows recent talks in Tehran between Brazil’s Minister of Mines and Energy, Fernando Coelho Filho, and Iran’s Minister of Petroleum, Bijan Zangeneh." (october 10, 2017). (https://www.offshore-mag.com/articles/2017/10/petrobras-considering-involvement-in-south-pars-oil-project.html)
"Iran’s oil minister Bijan Namdar Zanganeh invited Brazilian oil companies to take part in Iran’s offshore oil and gas projects, SHANA news agency reported Dec. 4. Zanganeh made the remarks on the sidelines of a meeting with Brazil's Minister of Mines and Energy Fernando Coelho Filho in Tehran. The Iranian minister said that Brazilian companies, in particular Petrobras have very good experience in exploration and development of oil fields in deep waters. Iran needs this experience for its oil projects in Caspian Sea, Zanganeh added." (Trend News Agency, "Brazilian Petrobras to contribute to Iran's offshore oil projects," 12/4/2016). (http://www.4-traders.com/PETROLEO-BRASILEIRO-SA-PE-6496795/news/Petroleo-Brasileiro-Petrobras-Brazilian-Petrobras-to-contribute-to-Iran-rsquo-s-offshore-oil-proje-23499059/)
“Brazilian state oil company Petrobras has closed its office in Tehran. Brazilian Ambassador to Tehran Santiago Irazabal Mourao said for the time being Petrobras has no intention to return to the Iranian market, Iran's Mehr news agency reported on May 27. ’Petrobras focused on developing oil and gas projects in Brazil,’ he added. ‘However, the company is obliged to its contract with the National Iranian Oil Company to explore for oil in the Persian Gulf,’ he noted. In 2009, Petrobras said the exploration of an Iranian oil block in the Persian Gulf would prove its development to be not commercially feasible. Petrobras also said it had decided not to continue with an exploration project in the Caspian Sea in northern Iran. Petrobras International Director Jorge Zelada said that the offshore Tusan block in the Persian Gulf was geologically unappealing, according to Reuters report. Zelada also explained that the company would not begin exploration in a block in the Caspian Sea because it appeared to hold mostly natural gas, rather than oil, in an area that did not have the necessary infrastructure for gas production. ‘There is no Petrobras exploration activity in the Caspian Sea. There was an opportunity that Petrobras reviewed and decided not to continue with,’ he said.” (Trend, “Brazilian state oil company Petrobras closes office in Tehran,” 5/27/14) (http://en.trend.az/capital/business/2278698.html)
Despite a lack of current investments in Iran, Brazilian state-controlled oil giant Petrobras (PBR, PETR4.BR) will keep its office running in that country for the foreseeable future, Petrobras President Jose Sergio Gabrielli said Monday...
In the past few years, Petrobras has worked in partnership with Iran's government in oil development on Iranian soil. Petrobras has made total investments in Iran of some $30 million, but test wells drilled by Petrobras have failed to come up with commercially significant oil volumes.
Gabrielli did not elaborate on the company's decision to maintain its office in Iran, despite the lack of any current investment program there. He said the decision was 'an internal matter.'" (Dow Jones Newswires, "Brazil Oil Giant Petrobras To Keep Iran Office -Estado," 4/12/10) (http://online.wsj.com/article/BT-CO-20100412-713378.html?mod=WSJ_latestheadlines)