The Petrobras Board of Directors approved the company’s operations in South Africa, enabling the acquisition of a stake in the Deep Western Orange Basin (DWOB) block, through a competitive process conducted by TotalEnergies.
The block is located in deep waters in the Orange Basin, in which there have recently been significant discoveries by TotalEnergies, Shell and Galp. In this way, Petrobras will have a 10% stake in the DWOB block, with the consortium having the following composition: TotalEnergies, operator (40%), QatarEnergy (30%), Sezigyn Pty. (20%) and Petrobras (10%) .
The operation will aim to diversify the exploration portfolio with value generation and is aligned with the company’s long-term strategy, which aims to restore oil and gas reserves through the exploration of new frontiers, both in Brazil and abroad. , and acting in partnership.
In a statement, the state-owned company informed that the acquisition of the DWOB block, in South Africa, complies with all the company’s internal and governance procedures, in line with its Strategic Plan 2024-2028+, and is subject to approval by local regulatory bodies.
