Brazilian federal oil company Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, will explore for oil off the coast of the Cape Verde, the island nation's prime minister said Monday.

The exploration accord will be part of a package of measures between Brazil and Cape Verde that will be signed during Brazilian President Luiz Inacio Lula da Silva's visit in July, Cape Verde Prime Minister Jose Maria das Neves told the local Estado news agency.

Petrobras officials were not immediately available to comment on the report.

"We are going to also negotiate for research of Cape Verde 's marine resources," Neves said. "There will be an interdisciplinary study with Brazil 's National Petroleum Agency, Petrobras and the Brazilian Defense Ministry, which treats aspects related to the sea."

The prime minister said that cooperation with Brazil would help the country develop its natural resources.

"It's important to have an integrated research perspective of our marine resources, and eventually oil and gas if it's there," Neves said.
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