Overview
- An agreement announced Friday between Petrobras and Oranto gives Petrobras 75% of exploratory Block 3 off São Tomé and Príncipe and operatorship.
- The purchase price was not disclosed, and the deal must clear government and regulatory approvals in São Tomé and Príncipe before it closes.
- Oranto held 90% before the sale, with ANP‑STP at 10%, and the post‑closing split will be Petrobras 75%, Oranto 15%, and ANP‑STP 10%.
- Petrobras said the acquisition followed its internal governance rules and fits its 2026–2030 plan to diversify and rebuild oil and gas reserves.
- The company has been rebuilding an African portfolio, including a 42.5% stake in Namibia’s Block 2613 in February and prior declarations of interest in offshore blocks in Côte d’Ivoire.