Petrobras announced it has acquired a 27.5% interest in offshore Block 4 in São Tomé and Príncipe, reinforcing its upstream exploration strategy in Africa. The acquisition places Petrobras in a consortium led by Shell (30%), alongside Galp (27.5%) and ANP-STP (15%).
The move strengthens Petrobras’ international exploration footprint and aligns with the company’s 2025–2029 Strategic Plan, which emphasizes portfolio diversification and reserve replenishment through new frontiers and partnerships.
Petrobras has been active in São Tomé and Príncipe since February 2024, when it acquired a 45% stake in Blocks 10 and 13 and a 25% stake in Block 11. The company said the latest transaction complied with its internal governance procedures and highlights its long-term commitment to international upstream expansion.
The participation in Block 4 underscores Petrobras’ intent to grow its oil and gas reserves beyond Brazil and to pursue frontier exploration opportunities in collaboration with major industry players.
Image credited to Flavio Emanuel, Agencia Petrobras
