Petrobras Signs Agreement to Acquire Block 3 Offshore São Tomé and Príncipe
2026-07-11 09:59
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en.Wedoany.com Reported - Petrobras announced on April 17 that it has signed an agreement to acquire Oranto Petroleum's interest in Block 3 offshore São Tomé and Príncipe and will serve as the operator of the block.
Upon completion of the transaction, the consortium's equity distribution will be: Petrobras as operator holding 75%, Oranto holding 15%, and the National Petroleum Agency of São Tomé and Príncipe holding 10%.
The Brazilian oil giant returned to the African continent in 2024 and already holds interests in blocks in São Tomé and Príncipe. The acquisition of Block 3 aligns with the company's Business Plan 2026-2030, which aims to replenish its oil and gas reserves by exploring new frontiers both in Brazil and abroad.
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