Brazilian state-owned energy company Petrobras has completed the acquisition of an interest and operation in an exploration block offshore Sao Tome and Principe.
Brazilian player Reported on April 17 Signing of an agreement to acquire a share and take over the operation of Block 3 offshore in Sao Tome and Principe from Oranto Petroleum Company (Oranto).
Upon completion of the transaction, the consortium now consists of Petrobras (operator with 75% stake) in partnership with Oranto (15%) and the National Oil Agency of São Tomé and Principe (10%).
The Brazilian giant resumed its activities in 2024 on the African continent and already has interests in the Sao Tome and Principe blocs. The acquisition of this latest area is in line with the company’s 2026-2030 business plan, which includes replenishing its oil and gas reserves through exploration of new frontiers, in Brazil and abroad.
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