Brazil’s Petrobras is interested in re-entering Angola after resuming exploration in Africa last year. Following recent agreements in São Tomé and Príncipe, Petrobras plans to leverage its expertise in offshore oil extraction within Angola. The company’s investments in the coming years are largely focused on exploration and production, aligning with its strategy to diversify operations and secure energy supplies.
Petrobras, the Brazilian oil giant, is expressing renewed interest in Angola after previously exiting the region in 2018. Following its exploration resumption in Africa last year, the company aims to capitalize on the technical and geological similarities between Angolan and Brazilian offshore basins. Notably, Petrobras has already signed exploration agreements for offshore blocks in São Tomé and Príncipe, where it collaborates with Galp and the National Petroleum Agency of São Tomé and Príncipe.
The Angolan offshore, akin to Brazil’s Campos, Santos, and Pelotas basins, presents significant exploration potential for Petrobras, given its expertise in ultra-deepwater pre-salt oil extraction. Furthermore, Petrobras has ambitious investment plans totaling $111 billion from 2025 to 2029, predominantly allocated for exploration and production.
During a pre-conference workshop preceding African Energy Week 2024, Sylvia Maria Couto dos Anjos, Petrobras’ exploration and production executive officer, reaffirmed the company’s commitment to exploring opportunities in Angola and other southern African countries. This exploration aligns with Petrobras’ diversification strategy, as it seeks new oil and gas frontiers.
In recent years, Petrobras has focused on Africa for exploration opportunities, particularly after a hiatus from the continent. The company previously enjoyed a long-standing operational presence in Angola before ceasing activities in 2018. There exists a strong geological correlation between Brazilian offshore basins and those off Angola’s coast, confirming that Brazil’s extensive experience can be leveraged effectively in Angola’s exploration activities. Petrobras currently anticipates substantial investments to enhance its production capacity and technological expertise.
Petrobras is strategically positioning itself to reintegrate into the Angolan oil market, backed by extensive prior expertise and a commitment to diversification through substantial investment. The geological and technical parallels between Brazilian and Angolan offshore environments bode well for successful exploration endeavors. This move not only reflects the company’s renewed focus on Africa but also underlines the importance of securing energy supplies through diversified methods.
Original Source: macaonews.org
