Petrobras Expands Its Oil and Gas Portfolio with an Offshore African Field
Brazilian Petroleo Brasileiro SA (Petrobras) has expanded its oil and gas asset portfolio with a new exploration block in Africa. This was reported by the company’s press service.
Petrobras signed an agreement to acquire a stake in offshore Block 3 on the continental shelf of São Tomé and Príncipe from Oranto Petroleum (Oranto). Petrobras also obtained operator rights.
The consortium holding the asset currently includes Oranto, the operator, with a 90% stake, and the National Petroleum Agency of São Tomé and Príncipe (ANP-STP) with 10%. Petrobras is acquiring a 75% stake. After completion of the transaction, the ownership structure will be as follows:
Petrobras (operator) – 75%,
Oranto – 15%,
ANP-STP – 10%.
São Tomé and Príncipe is a small island state in the Gulf of Guinea, considered a перспективное direction for offshore oil and gas exploration. Major international companies, including Shell, Petrobras, Galp, and TotalEnergies, operate in the region.
Despite the absence of commercial production, interest in the country’s resource base remains strong. Companies continue exploration activities and sign new contracts, expecting long-term offshore potential.
The Brazilian state company resumed its activities on the African continent in 2024 and already holds stakes in assets in São Tomé and Príncipe. The acquisition of the new block aligns with the company’s 2026–2030 business plan.
“This transaction strengthens Petrobras’ position in exploration activities on the African continent, ensures portfolio diversification, and aligns with the company’s long-term strategy aimed at replenishing oil and gas reserves through the development of new assets and cooperation with partners,” the company said.
Completion of the transaction is subject to standard conditions, including obtaining the necessary governmental and regulatory approvals.
