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%).
This transaction is aligned with Petrobras’ strategy of replenishing its oil and gas reserves by exploring new frontiers, both in Brazil and abroad, as set out in the company’s Business Plan. The assessment of new opportunities seeks to diversify Petrobras’ exploration portfolio, promoting value creation and the long term sustainability of its businesses.
Since 2024, Petrobras has resumed its activities on the African continent and already holds interests in blocks in São Tomé and Príncipe. As it was mentioned in April, this transaction strengthens exploratory activities on the African continent, with the purpose of portfolio diversification, and is aligned with the company’s long-term strategy, aiming to replenish oil and gas reserves through exploration of new frontiers and partnership operations.
