Petrobras announced earlier this month that it has entered into a contract to acquire a stake and assume operation of Block 3, offshore São Tomé and Príncipe, in Africa , from Oranto Petroleum.
The current consortium is composed of Oranto, the current operator with a 90% stake, and the National Petroleum Agency of São Tomé and Príncipe (ANP-STP), with 10%. Petrobras is acquiring 75%, and upon completion of the transaction, the consortium will consist of Petrobras (operator, 75%), Oranto (15%), and ANP-STP (10%).
Since 2024, Petrobras has resumed its operations on the African continent and already has a stake in blocks in São Tomé and Príncipe.
The operation reinforces exploratory activity on the African continent, with the purpose of portfolio diversification, and is aligned with the company's long-term strategy, aiming at replenishing oil and gas reserves through exploration of new frontiers and collaboration.
The acquisition of the block in São Tomé and Príncipe complied with all the company's internal governance procedures, and is in line with the 2026-2030 Business Plan.
The completion of the transaction is subject to the fulfillment of precedent conditions, including applicable governmental and regulatory approvals from São Tomé and Príncipe.
Facts deemed relevant will be promptly disclosed to the market.
Source: Petrobras
