Petrobras Declares Interest in Ivory Coast Offshore Exploration Blocks
Brazilian oil giant Petrobras has submitted declarations of interest for nine exploratory blocks in Ivory Coast’s offshore waters, marking the first phase of the company’s African expansion strategy. The Ivory Coast government’s Council of Ministers has approved the declarations, providing Petrobras with negotiation exclusivity for the promising acreage.
The move aligns with Petrobras’ long-term strategy of replenishing reserves through new frontier exploration, both domestically and internationally. The company emphasizes that the Ivory Coast opportunity complements its expertise in similar geological settings and supports portfolio diversification objectives.
The evaluation represents Petrobras’ broader commitment to generating value through strategic geographic expansion, with material developments to be disclosed as negotiations progress.
Source: oilreviewafrica.com