Brazil’s state oil giant Petrobras has moved decisively to expand its African footprint, announcing the acquisition of a 75 percent stake in Block 3 offshore São Tomé and Príncipe from Oranto Petroleum — a deal that also makes Petrobras the operator of the block.
The current consortium, comprising Oranto Petroleum with a 90 percent stake and the National Petroleum Agency of São Tomé and Príncipe (ANP-STP) holding 10 percent, will be restructured upon completion of the transaction. The new consortium will consist of Petrobras as operator with 75 percent, Oranto retaining 15 percent, and ANP-STP holding its existing 10 percent.
Petrobras said the acquisition aligns with its 2026–2030 Business Plan and is part of a broader strategy to replenish oil and gas reserves through exploration of new frontiers and international collaboration. The Brazilian major has been progressively rebuilding its presence on the African continent since resuming operations there in 2024, with existing stakes in other São Tomé and Príncipe blocks.
The completion of the transaction remains subject to governmental and regulatory approvals from São Tomé and Príncipe and other precedent conditions, with the company committing to timely market disclosure on all material developments.
Source: energy-pedia.com