“The company is constantly analysing opportunities in new areas that are strategic for the recomposition of reserves and profitable,” the Brazilian state-owned company told Lusa at an event to promote partnerships that boost collaboration between Brazilian and African companies, taking place on Thursday in Rio de Janeiro.
In this way, the company is “attentive to opportunities” in the “basins of the Atlantic margin of Africa, including Angola”.
The African basins 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 exploration blocks in São Tomé and Príncipe, previously operated by Shell.
“The operation marks the resumption of exploratory operations on the African continent, with the aim of diversifying the portfolio,” it said at the time, detailing that the acquisition is in line with the strategy of “recomposing oil and gas reserves by exploring new frontiers, both in Brazil and abroad.
“In the case of São Tomé and Príncipe, we analysed it as a good opportunity, especially as we are working together with important partners in the industry,” said the Brazilian company.
The acquisition in question was a joint operation with the São Tomé and Príncipe National Petroleum Agency and Portuguese energy company Galp.
“In this way, Petrobras acquired a 45% stake in blocks 10 and 13 and a 25% stake in block 11,” it said.
The commitment to new frontiers is set to continue, the company assured, not least 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, as well as being developed in a way that is integrated with other energy sources”.
Petrobras plans to invest US$111 billion (€106.7 billion) between 2025 and 2029, of which US$77 billion (€74 billion) will be invested in the exploration and production sector, and US$20 billion (€19.2 billion) in refining, transport and marketing.
The African Energy Chamber is organising the event ‘Investing in African energies’ at the end of the day today in search of business opportunities and a ‘strengthening of the partnership between Brazil and Africa’ in Rio de Janeiro, where it hopes to gather around a thousand delegates.
