Brazil’s state-owned energy firm Petrobras has concluded the acquisition of an interest and operatorship in an exploration block off the coast of São Tomé and Príncipe.
The Brazilian player reported on April 17 the signing of an agreement to acquire an interest and assume operatorship of Block 3 offshore São Tomé and Príncipe from Oranto Petroleum (Oranto).
Upon completion of the transaction, the consortium is now composed of Petrobras (operator, with a 75% interest) in partnership with Oranto (15%) and the National Petroleum Agency of São Tomé and Príncipe (10%).
The Brazilian giant resumed its activities in 2024 on the African continent and already holds interests in São Tomé and Príncipe’s blocks. The acquisition of this latest block is in line with the firm’s Business Plan 2026-2030, which includes replenishing its oil & gas reserves by exploring new frontiers, both in Brazil and abroad.