Petrobras Strengthens African Presence with São Tomé Offshore Stake
Petrobras has successfully acquired a 27.5% interest in offshore Block 4 in São Tomé and Príncipe, further reinforcing its upstream exploration strategy in Africa. The Brazilian oil giant joins a prestigious consortium led by Shell as operator (30%), alongside Galp (27.5%) and ANP-STP (15%).
This latest acquisition aligns with Petrobras’ 2025-2029 Strategic Plan, which emphasizes portfolio diversification and reserve replenishment through exploration of new frontiers and strategic partnerships. The move strengthens the company’s international exploration footprint as it seeks to grow oil and gas reserves beyond Brazil’s borders.
Petrobras has maintained an active presence in São Tomé and Príncipe since February 2024, when it initially acquired a 45% stake in Blocks 10 and 13, plus a 25% stake in Block 11. The company confirmed that the latest transaction fully complied with internal governance procedures and demonstrates its long-term commitment to international upstream expansion.
The participation in Block 4 underscores Petrobras’ strategic intent to pursue frontier exploration opportunities in collaboration with major industry players while diversifying its portfolio beyond domestic operations.
Sources: worldoil.com, energy-pedia.com
