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Petrobras offshore expansion in Africa

Updated 3 times since CLSTR started tracking revisions of this situation.

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2026-09-18 04:52 UTC → 2026-09-30 19:15 UTC · added removed

Petrobras is expanding its international presence through exploration and production activities along the African equatorial margin. In August 2026, the Brazilian state-controlled company received authorization from Ghanaian authorities to negotiate exploration contracts for four offshore blocks in the Keta Basin. This move aligns with Ghana’s efforts to revitalize its petroleum industry following a decline in national output and oil revenues. Petrobras identified the Keta Basin as a strategic frontier due to geological similarities with Brazil’s equatorial margin. By late September 2026, Petrobras advanced its regional strategy by signing production sharing exploration contracts for eight offshore exploratory blocks in the Ivory Coast. Operating through its subsidiary, Petrobras Netherlands B.V., the company will hold a 90% stake and operator status in these assets, with the remaining 10% held by PETROCI Holding. The specific blocks involved include CI-513, CI-600, CI-601, CI-602, CI-603, CI-605, CI-701, and CI-702. The exploration will target deep and ultra-deep waters, with depths ranging from 1,500 to 4,000 meters. The initial investment phase is estimated to exceed 250 billion FCFA, covering advanced seismic data acquisition and at least eight exploratory wells. Petrobras leadership, including President Magda Chambriard, noted that the region's geological characteristics are similar to Brazilian sedimentary basins. This expansion is part of a broader strategic plan to diversify the company’s geographic portfolio and recompose its oil and gas reserves to sustain production growth. The company’s growing African footprint also includes interests or ongoing negotiations in Namibia, São Tomé and Príncipe, and South Africa.

Versions

  1. 2026-09-30 19:15 UTC Petrobras offshore expansion in Africa
  2. 2026-09-18 04:52 UTC Petrobras offshore expansion in Africa
  3. 2026-09-17 19:04 UTC Petrobras offshore expansion in Africa
  4. 2026-09-17 13:45 UTC Petrobras offshore expansion in Africa

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