“The company is constantly analyzing opportunities in new areas that are strategic for replenishing reserves and profitable,” the Brazilian state-owned company told Lusa, regarding an event to promote partnerships that boost collaboration between Brazilian and African companies, which will take place this Thursday in Rio de Janeiro.
Therefore, it added, “it is attentive to opportunities” in the “basins on the Atlantic coast of Africa, including Angola.”
The African basins, it said, are of interest to the company because they have technical and geological similarities with Brazilian basins, such as Campos, Santos and Pelotas.
In February 2024, the Brazilian company announced the acquisition of three exploratory blocks in São Tomé and Príncipe, previously operated by Shell.
“The transaction marks the resumption of exploratory activity on the African continent, with the aim of diversifying the portfolio”, it highlighted at the time, detailing that the acquisition is in line with the strategy of “rebuilding oil and gas reserves through exploration of new frontiers, both in Brazil and abroad.
“In the case of São Tomé and Príncipe, we analyzed it as a good opportunity, especially because we are working together with important partners in the industry”, reinforced the Brazilian company.
The acquisition in question was a joint operation with the National Petroleum Agency of São Tomé and Príncipe and Galp.
“In this way, Petrobras acquired a 45 percent stake in blocks 10 and 13 and a 25 percent stake in block 11”, it detailed.
The company assured that the focus on new frontiers will continue, especially because it believes that “the new oil and gas exploratory frontiers are part of the energy solution of the future, guaranteeing a secure supply of energy, in addition to developing in an integrated manner with other energy sources”.
Petrobras expects to invest US$111 billion between 2025 and 2029, of which US$77 billion will be invested in the exploration and production sector, and US$20 billion in refining, transportation and marketing.
The African Energy Chamber is also organising the “Investing in African energy” event this Thursday, at the end of the day, in search of business opportunities and a “strengthening of the partnership between Brazil and Africa”, in Rio de Janeiro, where it expects to bring together around a thousand delegates.
