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Petrobras acquired stakes in exploration blocks in São Tomé and Príncipe, in Africa, following a board of directors.
Petrobras, a Brazilian state-owned company, acquired stakes in three exploration blocks in São Tomé and Príncipe, a country on the west coast of Africa, after the board of directors authorized the company's operations, shows a statement released this Wednesday (27) to the market. The acquisition of shares occurred through a competitive process led by Shell and will mark Petrobras' resumption of exploratory operations on the African continent.
Petrobras acquired a 45% stake in blocks 10 and 13 and a 25% stake in block 11, with the consortia having the following composition: Block 10: Shell, operator (40%), Petrobras (45%) and ANP-STP (15%) Block 11: Shell, operator (40%), Petrobras (25%), Galp (20%) and ANP-STP (15%) Block 13: Shell, operator (40%), Petrobras (45%) and ANP-STP (15%). According to Petrobras, the transaction is within the scope of the Memorandum of Understanding signed in March by the CEOs of Petrobras and Shell, Jean Paul Prates and Wael Sawan, respectively.
Petrobras, a Brazilian state-owned company, has recently stood out in the upstream segment, with exploratory action in several exploratory blocks on the west coast of Africa. In accordance with the company's governance, the Administrative Council defined as one of the objectives strategic to explore new frontiers, investing in consortia and partnerships in the region.
Petrobras, through its CEOs, has sought to strengthen its presence in Africa through a strategic approach that aims at sustainable development and the creation of value for the company and local communities. With a solid exploratory performance and focused on operational excellence, the company has established itself as one of the main players in the oil exploration sector in the region.
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Furthermore, Petrobras has been investing in cutting-edge technologies and training its team to improve its operations in exploration blocks on the west coast of Africa. In this way, the company seeks to maximize the potential of its assets in the region and ensure sustainable growth in its international operations.
In this context, Petrobras reaffirms its commitment to operational excellence, ethics and transparency in all its operations, demonstrating its corporate responsibility and its contribution to the socioeconomic development of the regions where it operates. The company remains firm in its strategy of expanding and consolidating its role as one of the main energy companies in the world, remaining committed to the constant search for innovation and efficiency in its activities.
Source: moneytimes
