Petrobras to acquire interest in Block 3 offshore Africa
Key Highlights
- Petrobras acquired an interest in Block 3, offshore Africa.
- Petrobras will be operator.
Petrobras has agreed to acquire interest in and will assume operatorship of Block 3, offshore São Tomé and Príncipe, Africa, from Oranto Petroleum Ltd.
The current consortium is composed of Oranto, the current operator with a 90% interest, and the National Petroleum Agency of São Tomé and Príncipe (ANP-STP), with 10%. Petrobras is acquiring a 75% interest and, upon completion of the transaction, the consortium will be composed of Petrobras (operator, 75%), Oranto (15%), and ANP-STP (10%).
In 2024, Petrobras resumed activities on the African continent and currently holds interests in blocks in São Tomé and Príncipe.
The deal is subject to conditions, including applicable governmental and regulatory approvals.