WS Investor
19 Apr 2026, 07:14
Petrobras announced that it has signed an agreement to acquire a 75% stake and assume operatorship of an offshore exploration block in São Tomé and Príncipe, expanding its presence in Africa.
The transaction involves Block 3, currently operated by Oranto Petroleum Limited, which holds a 90% interest, alongside the National Petroleum Agency of São Tomé and Príncipe with 10%. Upon completion, the consortium will be restructured with Petrobras as operator (75%), Oranto (15%), and ANP-STP retaining its 10% stake.
The move aligns with Petrobras’ strategy to diversify its exploration portfolio and replenish oil and gas reserves through new frontier opportunities and partnerships. The company has been re-expanding its footprint in Africa since 2024 and already holds interests in other blocks in the country.
The deal remains subject to customary conditions, including regulatory approvals in São Tomé and Príncipe, and is part of Petrobras’ broader 2026–2030 business plan.
The transaction involves Block 3, currently operated by Oranto Petroleum Limited, which holds a 90% interest, alongside the National Petroleum Agency of São Tomé and Príncipe with 10%. Upon completion, the consortium will be restructured with Petrobras as operator (75%), Oranto (15%), and ANP-STP retaining its 10% stake.
The move aligns with Petrobras’ strategy to diversify its exploration portfolio and replenish oil and gas reserves through new frontier opportunities and partnerships. The company has been re-expanding its footprint in Africa since 2024 and already holds interests in other blocks in the country.
The deal remains subject to customary conditions, including regulatory approvals in São Tomé and Príncipe, and is part of Petrobras’ broader 2026–2030 business plan.
