INSUBCONTINENT EXCLUSIVE:
Brazilian state-owned oil company Petrobras announced plans to acquire oil fields in Africa to counter an expected production decline
Angola, Namibia, and South Africa.Talks are underway with major players like ExxonMobil, Shell, and TotalEnergies, which already collaborate
Petrobras resumed its African operations last year
stake in two blocks and 25% in the third
exploration potential.Petrobras Eyes African Oil Fields to Bolster Reserves Amid Declining Production Forecasts
(Photo Internet reproduction)However, environmental clearance from IBAMA remains a hurdle amid debates between environmentalists and
This effort is driven by recent oil discoveries in neighboring Uruguay, Namibia, and South Africa.Petrobras Expands Presence Across the
AmericasBeyond Africa and Brazil, Petrobras maintains a strong presence across the Americas
Bolivia, produces gas from the San Alberto and San Antonio fields, holding a 35% share in each contract.In the U.S., Petrobras operates
deepwater assets in the Gulf of Mexico through a joint venture with Murphy Exploration - Production Company
proven reserves reached 11.4 billion barrels of oil equivalent by January 2025, including 1.3 billion barrels added during 2024
Of these reserves, 85% consist of oil and condensate, while gas accounts for the remaining 15%.The company emphasized continued investment
in recovery efficiency, frontier exploration, and portfolio diversification to sustain its reserves amidst future challenges.
