Petrobras declares interest in Ivory Coast exploration blocks, enters negotiations

Petróleo Brasileiro SA (Petrobras) has submitted a declaration of interest for exploratory blocks on offshore the Ivory Coast as part of a first phase in the acquisition process for exploratory areas in the country off the southern coast of West Africa.

The Ivory Coast government, through its Council of Ministers, approved Petrobras' declaration of interest for nine blocks, Petrobras said in a release June 4.

Petrobras said the next steps are contractual negotiations of the exploratory blocks, and that the evaluation of new areas targets the company’s aim to diversify its oil and gas  exploration portfolio.