UPDATE 2-Statoil and Petrobras eye biofuel, oil ventures

(Rewrites with CEOs comments, bio-diesel plans)

By John Acher

OSLO, Sept 14 (Reuters) - Norwegian energy group Statoil (STL.OL) and Brazilian Petrobras (PETR4.SA) signed an agreement on Friday to look for joint biofuel ventures and extend cooperation in oil and gas exploration and production.

Statoil said the collaboration agreement involves both companies studying several development opportunities in Brazil and internationally.

The two majority state-owned energy groups are already partners on several fields offshore in Brazil, in the Gulf of Mexico and off Nigeria.

"This agreement will take our collaboration to a higher level by extending cooperation within offshore development and exploration and also in the area of biofuels," Statoil Chief Executive Helge Lund told Reuters.

"We are prepared to invest extensively not only in the partnership but also in physical assets in Brazil," Lund said.

Lund added that Statoil was interested in developing its position in biofuels after last month's purchase of a strategic stake in a bio-diesel refinery in the Baltic state of Lithuania.

Statoil, set to produce nearly 2 million barrels of oil equivalent per day in 2007, has said it wanted to start biofuel production as a "sustainable supplement to fossil fuels".