An executive of Petróleo Brasileiro SA (Petrobras), Anelise Lara, has said the Brazilian state-owned oil company and Chinese state-owned China National Petroleum Corp. (CNPC) have finished their joint study of the feasibility of completing the Comperj oil refinery in Rio de Janeiro, Reuters reports.

Reuters reported previously that if Petrobras and CNPC thought the refinery would be viable, they would form a joint venture to complete the unfinished facility and run it.

The report said Petrobras would own 80 percent of the joint venture and CNPC the rest.

CNPC would also get 20 percent of the oil concessions in the Marlim cluster off the Brazilian coast, Reuters said.