Petrobras Exclusively Negotiates Oil Blocks in Ivory Coast and Focuses on Expansion in Africa

Written by Carla Teles

Published on 09/06/2025 at 22:53

Petrobras inicia negociação exclusiva por blocos de petróleo na Costa do Marfim. Saiba como a estatal busca expandir sua atuação estratégica na África.

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State-Owned Company Obtains Exclusive Negotiation Right to Acquire New Exploratory Blocks in Deep Waters, Marking Its Strategic Return to the African Continent.

Petrobras announced that it has received exclusive rights from the government of Ivory Coast to negotiate the acquisition of new oil blocks. This move is part of the company’s plan to expand its reserves and diversify its portfolio in new geological frontiers, marking a strategic return to the international stage, focusing on Africa.

Petrobras Seeks New Frontiers

Petrobras confirmed the exclusive negotiation with Ivory Coast. The state-owned company expressed formal interest in the assets, receiving the grant of exclusivity. This initiative is part of the company’s long-term strategic plan. The main objective is to replenish oil reserves and natural gas. To achieve this, the company explores new geological frontiers, both in Brazil and abroad. The evaluation of opportunities in African assets is a fundamental part of this strategy. “Evaluating new areas aims to diversify the company’s exploratory portfolio with value generation,” Petrobras stated in a statement.

Opportunity in Ivory Coast: Untapped Basin Attracts Petrobras

The blocks under negotiation are located in the western portion of the sedimentary basin of Ivory Coast. The region is considered strategic and relatively unexplored. The country’s Council of Ministers highlighted the importance of the partnership. According to the body, Petrobras “will help further develop the western margin of the country’s sedimentary basin.” The Brazilian company’s experience in deep water operations was a decisive factor for the choice.

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Return to the International Stage: Petrobras Diversifies Portfolio

Petrobras’ interest in assets in Africa represents a comeback. In recent years, the company focused its operations on the Brazilian pre-salt and reduced its international portfolio. Now, the state-owned company seeks to expand its global presence once again. The company is evaluating investments in areas with potential similar to those in which it already operates in Brazil. Historically, Petrobras has operated in countries such as Angola, Nigeria, and Libya. Ivory Coast emerges as one of the first targets in this new positioning. Geographical diversification, according to the company, aims to ensure greater resilience and security in the supply of future reserves.

Ongoing Negotiations

The operation still depends on the completion of negotiations. The exclusivity ensures that Petrobras will conduct talks without competition for the blocks under review. The company did not disclose details about values, number, or exact location of the blocks. The current negotiations do not constitute a definitive investment commitment. Petrobras stated it would conduct technical studies, feasibility analyses, and technical and environmental due diligence before any contractual advancement. The company also did not indicate whether it would operate alone or in a consortium.

Context and Potential of the Region

Ivory Coast has been actively promoting the exploration of oil and gas off its coast. The country’s goal is to expand its reserves and stimulate the local economy. In 2021, a significant discovery of oil and gas in block CI-101, operated by the Italian company Eni, increased global companies’ interest in the region. The West African country seeks to establish itself as an alternative for deep-water exploration. Petrobras reiterated that all its expansion decisions follow rigorous technical, financial, and governance criteria.

Petrobras Exclusively Negotiates Oil Blocks in Ivory Coast and Focuses on Expansion in Africa

State-Owned Company Obtains Exclusive Negotiation Right to Acquire New Exploratory Blocks in Deep Waters, Marking Its Strategic Return to the African Continent.

Petrobras Seeks New Frontiers

Opportunity in Ivory Coast: Untapped Basin Attracts Petrobras

Return to the International Stage: Petrobras Diversifies Portfolio

Ongoing Negotiations

Context and Potential of the Region

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Petrobras Exclusively Negotiates Oil Blocks in Ivory Coast and Focuses on Expansion in Africa

State-Owned Company Obtains Exclusive Negotiation Right to Acquire New Exploratory Blocks in Deep Waters, Marking Its Strategic Return to the African Continent.

Petrobras Seeks New Frontiers

Opportunity in Ivory Coast: Untapped Basin Attracts Petrobras

Return to the International Stage: Petrobras Diversifies Portfolio

Ongoing Negotiations

Context and Potential of the Region

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With a wingspan of 152 meters, 76 tires, and a capacity to carry 1,270 tons, the Boeing Pelican was the giant “flying ship” that promised to cross oceans close to the water on an invisible air cushion beneath its wings.

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