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Brazilian state-owned energy giant Petrobras is advancing its push into West Africa’s offshore oil and gas frontier, entering negotiations for exploration contracts covering four blocks in Ghana’s Keta Basin as the Brazilian major seeks to replenish reserves and expand its international exploration portfolio.
Petrobras has submitted an expression of interest in exploration blocks located in offshore areas of the Keta Basin in Ghana, a country on the west coast of Africa. This move is aligned with the firm’s strategy of replenishing its oil and gas reserves.
Since the country’s Ministry of Energy and Green Transition has approved the application for the negotiation of exploration contracts in four blocks, the company is entering the phase of direct talks to iron out the terms of these exploration contracts.
As Petrobras is keen on boosting its oil and gas reserves through the exploration of new frontiers, both in Brazil and abroad, the assessment of new opportunities seeks to diversify the company’s exploration portfolio.
This is part of the Brazilian player’s plans to promote value creation and the long‑term sustainability of its business. The confirmation of discussions in Ghana comes shortly after Petrobras made a hydrocarbon discovery in a frontier well offshore Amapá.