HOUSTON--(BUSINESS WIRE)--Petrobras and Foro Energy today announced the signing of an amendment extending their Technology Cooperation Agreement (TCA) for developing a next generation high power laser drilling system.

The TCA extension between Petrobras Research & Development Center (CENPES) and Foro Energy sets the framework to continue the collaborative research between Petrobras and Foro Energy for an additional two years with the opportunity for extensions.

Both Petrobras and Foro Energy recognize the importance of successfully commercializing innovative drilling technology and the potential of high power lasers to deliver a step change performance in drilling.

Foro Energy www.ForoEnergy.com.

Petroleo Brasileiro S.A. -- Petrobras (NYSE:PBR) www.petrobras.com.