petrobras (Image: Agência Petrobras)
A Petrobras (PETR4) reported this Tuesday (1) that its Board of Directors approved the company's operations in South Africa, enabling the acquisition of a stake in the Deep Western Orange Basin (DWOB) block, through a competitive process conducted by TotalEnergies.
The DWOB block is located in deep waters in the Orange Basin, in which there have recently been significant discoveries by TotalEnergies, Shell and Galp.
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Petrobras will have a 10% stake in the DWOB block, with the consortium having the following composition: TotalEnergies, operator (40%), QatarEnergy (30%), Sezigyn Pty. (20%) and Petrobras (10%).
According to the state-owned company, the purpose of the operation will be to diversify the exploratory portfolio with value generation and is aligned with the company's long-term strategy, which aims to restore oil and gas reserves through the exploration of new frontiers, both in Brazil and abroad, and working in partnership.
“The acquisition of the DWOB block, in South Africa, complies with all the company's internal and governance procedures, in line with its Strategic Plan 2024-2028+, and is subject to approval by local regulatory bodies,” he said in a statement.
Advancement does not take away the focus on Brazil, says director
An advance in the performance of Petrobras to the continent africawill not take away the state-owned company's focus on Brazil, its number 1 priority, said the director of Exploration and Production at the Brazilian oil company, Sylvia dos Anjos, in an interview with Reuters last week.
In the previous government, the state-owned company stopped looking outside Brazilian borders and even sold several assets on the market.do internal. While in the first Lula government the Petrobras had expanded operations in Africa.
See the Petrobras statement