According to reports Reutersciting the company’s CEO Magda Chambriard.
She detailed the strategic intentions to expand the company’s presence in Africa, highlighting the welcome approach of Ivory Coast and the interests of other African countries.
Ivory Coast has recently paved the way for oil companies by prioritizing the nine exploratory offshore blocks.
The gesture was described by Chambriard as launching a “red carpet,” which means the company has a huge opportunity to dive deep into the deep waters.
“We are experts on the eastern edge of Brazil. The correlation between Brazil and Africa is clear, so we need to go to Africa,” Chambriard said.
Nigeria, Angora and Namibia have also shown a desire to work with Petrobras, further strengthening Africa’s role in the company’s global strategy.
Petrobras is growing interest in international petroleum assets, especially in Africa, as the company aims to increase reserves amid environmental permit delays for new drilling projects along the coast of the Amazon rainforest.
Additionally, as part of its broader exploratory ambitions, Petrobras hopes to attend an oil cube auction in India in July.
Under past leadership, oil companies have focused on Brazil’s salt and salt sectors, which are known for their high productivity.
Now Chambriard’s mission is to balance the economic aspirations of President Luiz Inacio Lula and to provide returns from investors and drive the complexity of global markets at lower oil prices.
Despite challenges in obtaining environmental licensing in the Amazon DO Amazonas area, Chambriard is optimistic about clearing the final obstacles in the second half of July.
PETROBRAS has launched plans in Africa, gaining stakes in South Africa’s offshore oil fields and St. Tom and Príncipe in early 2023 and early 2024 respectively, with drilling expected to begin this year.
Although Petrobras encountered a setback when he enjoyed a share of the Mopane Field Discovery in Galp Energia near the Namibian coast, Chambriard still hopes for future opportunities and said: “We want to invite us to be invited” to develop the field.
“Petroleum Exploration Areas Outside Brazil targets African oil companies” was originally created and published by Offshore Technology, a brand owned by GlobalData.
