Brazil’s national oil company Petrobas, is pursuing 10 oil and gas opportunities in Angola, Namibia, and South Africa.
- The state-owned and listed company, officially known as Petróleo Brasileiro S.A., is “currently awaiting (Portugal based) Galp’s decision on its offer to acquire a significant stake in the Mopane block offshore Namibia.
- The entry opportunities are driven by Namibia’s potential, with estimated unexplored reserves of 100 billion barrels of oil.
- Outside of its home market, Petrobas has assets in Mexico, Bolivia, Colombia, South Africa, and Sao Tome and Principe.
“As we increase production, we increase the need for reserves. Brazil has a strong correlation with Africa. We feel very comfortable to come back to Africa, and are looking at opportunities in South Africa, Namibia and Angola,” said Sylvia Maria Couto dos Anjos, Executive Officer for Exploration and Production at Petrobras said during a pre-conference workshop sponsored by Namibia Energy Corporation (NEC), leading up to the African Energy Week (AEW) 2024: Investing in African Energies conference.
In October, the company’s board approved the purchase of a 10% stake in Deep Western Orange Basin in South Africa from French oil giant TotalEnergies, which retains a majority share. The deal was one of several planned in the region, with Petrobas’ main goal being to partner with global firms such as TotalEnergies and Shell as its primary focus remains on its home market.
