Brazilian state oil company Petrobras is actively pursuing a return to Nigeria’s oil sector, focusing on frontier deepwater exploration as part of strengthened bilateral relations between the countries. The company, which previously operated at Nigeria’s Agbami Field before withdrawing, now sees fresh opportunities amid economic reforms under President Bola Tinubu’s administration.
The development emerged during an interministerial review meeting chaired by Vice President Kashim Shettima at the Presidential Villa in Abuja, preparing for the second session of the Nigeria-Brazil Strategic Dialogue Mechanism scheduled for June 2025.
“Apart from ethanol, which they are hoping to engage the NNPCL for blending, Petrobras is also being actively engaged,” confirmed Minister of Foreign Affairs Ambassador Yusuf Tuggar. “Petrobras is no longer active in Nigeria, but they are very keen on coming back. They said they want frontier acreage in deep waters.”
The renewed partnership extends beyond the energy sector, with collaboration agreements spanning agriculture, health, culture, and creative economy, building on historical ties between the nations. This strategic reconnection comes as Brazil prepares to host several major global events in 2025, including the BRICS Summit, G20 Summit, and COP30.
Source: channelstv.com
