Brazilian state oil company Petrobras announced on Tuesday that its board of directors has approved the acquisition of a 10% stake in the Deep Western Orange Basin (DWOB) oil field offshore South Africa.
According to securities filings, the acquisition followed a competitive process led by French oil giant Total, which operates the project and maintains a 40% stake in the block, Reuters reported.
Last month, in an interview, Silvia dos Anjos, head of exploration and production at Brazil’s state-run oil company (Petrobras), said that Brazil’s state-run oil company would acquire interests in African exploration blocks from major oil companies such as ExxonMobil. It has been announced that negotiations are underway. ., Shell Plc, TotalEnergies SE, and Equinor ASA.
According to Bloomberg, discussions are focused on a bloc of countries including Namibia, South Africa and Angola.
Anjos said Petrobras is currently evaluating a total of 10 potential opportunities to partner with African oil majors, with the aim of leveraging deepwater expertise to expand its global presence. .
As Latin America’s largest oil producer, Petrobras has been aggressively expanding its global portfolio, most recently with Shell in São Tomé and Príncipe, two volcanic islands off the coast of Central Africa that share geological similarities with Guyana. acquired a minority stake in 3 blocks.
Galp Energia SGPS SA’s Mopane oil and gas field in Namibia is one of the potential targets where Petrobras is exploring the possibility of acquiring a 40% stake.
