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Petrobras Expands Operations in Exploratory Blocks in São Tomé and Príncipe.

Written by Paulo Nogueira

Published on 28/12/2023 at 04:25

Oil and Gas

Foto: None – Todos os direitos: Petrobrás

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© 2023: Board Approves Participation in Permanent Offer Blocks in West Africa Targeting Upstream Segment.

Petrobras reported that the Board approved the company’s operations in São Tomé and Príncipe, on the west coast of Africa, to facilitate the acquisition of stakes in 3 exploratory blocks through a competitive process conducted by Shell.

The transaction is within the scope of the Memorandum of Understanding signed by the CEOs of Petrobras and Shell, Jean-Paul Prates and Wael Sawan, to identify business opportunities between the companies in the upstream segment – such as the joint acquisition of 29 exploratory blocks in the Pelotas Basin in the 4th Cycle of Permanent Offer of Concession that took place on 12/13/2023, demonstrating Petrobras’s expansion in various locations.

New Investments by Petrobras in West Africa

Thus, Petrobras acquired 45% of participation in blocks 10 and 13 and 25% participation in block 11, which represents a significant step towards consolidating the company’s presence in the region.

ARTICLE CONTINUES BELOW

Strategic Partnerships in Oil and Gas Exploration

The acquisition of the blocks in São Tomé and Príncipe represents a unique opportunity for Petrobras, which seeks to increase its participation in the upstream segment and ensure a permanent offer of concession for new projects.

Furthermore, Petrobras aims to strengthen its strategic partnerships, as demonstrated by the entry into blocks 10, 11, and 13 in São Tomé and Príncipe in partnership with Shell and other operators.

Assurance of Compliance with Petrobras’s Strategic Plan

The entire acquisition process of the blocks in São Tomé and Príncipe was conducted in accordance with Petrobras’s internal procedures and governance, ensuring compliance with its Strategic Plan 2024-2028+ (SP 2024-28+).

The approval of local regulatory bodies is the next step to finalize this transaction, which represents an important milestone for Petrobras and its operations on the west coast of Africa.

Source: Petrobras Agency

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Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

Petrobras Expands Operations in Exploratory Blocks in São Tomé and Príncipe.

© 2023: Board Approves Participation in Permanent Offer Blocks in West Africa Targeting Upstream Segment.

New Investments by Petrobras in West Africa

Strategic Partnerships in Oil and Gas Exploration

Assurance of Compliance with Petrobras’s Strategic Plan

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