Brazil’s state-owned oil and gas company Petrobras is set to lead a high-profile delegation to the upcoming African Energy Week: Invest in African Energy conference scheduled for November 4-8 in South Africa’s Cape Town.
This event marks a significant opportunity for Brazil to deepen its involvement in Africa’s burgeoning energy sector, particularly following a series of strategic acquisitions by Brazilian firms on the continent.
The delegation will feature key figures including Petrobras’ exploration and production director Sylvia dos Anjos, Brazilian Institute of Oil and Gas president Roberto Ardenghy and Namibia Energy Corporation founder Marcio Mello.
This high-level presence underscores Brazil’s commitment to fostering strengthened partnerships in oil and gas exploration and production across Africa.
Petrobras, recognized as Brazil’s largest oil producer, is rapidly expanding its operations in Africa, with recent acquisitions in South Africa, Namibia and São Tomé and Príncipe.
In a significant move, the company’s board approved the acquisition of a 10-percent stake in the offshore Deep Western Orange Basin in South Africa in September 2024.
The basin, adjacent to recent high-profile discoveries in Namibia, is expected to yield substantial resources, with the potential for billion-barrel finds. The block is operated by TotalEnergies, alongside QatarEnergy and Sezigyn.
In Namibia, Petrobras is pursuing a 40-percent stake in the Mopane oil and gas exploration block, which has garnered attention following a major discovery in January 2024, with recoverable reserves estimated at up to 10 billion barrels.
This potential acquisition would signify Petrobras’ entry into a market renowned for some of Africa’s most significant offshore discoveries, aligning with the company’s strategic goal to enhance its international footprint while leveraging Namibia’s energy expertise.
Petrobras’ renewed focus on Africa follows its acquisition of interests in three Shell-operated exploration blocks in São Tomé and Príncipe in December 2023.
This deal is part of the company’s broader strategy to penetrate frontier markets in Africa, with a commitment of $1.3 billion over the next five years dedicated to exploration outside Brazil.
JN/APA