- Petrobras signed a contract to acquire a 75% stake and assume operatorship of Block 3 offshore São Tomé and Príncipe from Oranto.
- Post-transaction consortium will be Petrobras 75% (operator), Oranto 15%, and ANP‑STP 10%.
- Completion is subject to precedent conditions, including governmental and regulatory approvals in São Tomé and Príncipe.
- The transaction follows Petrobras's resumption of African activities in 2024 and aligns with its 2026-2030 Business Plan.
Transaction details
Petrobras signed a contract to acquire a 75% stake and assume operatorship of Block 3 offshore São Tomé and Príncipe from Oranto Petroleum; following the transaction the consortium will be Petrobras 75% (operator), Oranto 15% and the National Petroleum Agency of São Tomé and Príncipe (ANP‑STP) 10%.
Conditions and approvals
The completion of the acquisition is subject to precedent conditions, including applicable governmental and regulatory approvals in São Tomé and Príncipe.
Strategic rationale
The move is intended to strengthen Petrobras's exploratory activity in Africa, diversify its portfolio and support its long‑term plan to replenish oil and gas reserves through exploration of new frontiers and partnership operations; the transaction followed the company's internal governance procedures and is aligned with the 2026–2030 Business Plan.
Context
Petrobras resumed activities on the African continent in 2024 and already holds stakes in blocks in São Tomé and Príncipe.
