Petrobras, Galp join Shell in deepwater São Tomé and Príncipe block

Shell has concluded farm-outs in exploration Block 4 offshore São Tomé and Príncipe in equatorial West Africa with Petrobras and Galp.

Following the negotiations, Shell will remain operator with 30% interest. Petrobras and Galp will each have 27.5% stakes, the remainder held by ANP-STP (15%).

This will be Petrobras’ fourth block in the country’s territorial waters. In February 2024 it acquired a 45% position in offshore Blocks 10 and 13, and 25% in Block 11.

Galp already operates ultra-deepwater Blocks 6 (in partnership with Shell and ANP-STP) and 12 (with Equinor and ANP-STP), and it is also a partner (20%) to Shell and ANP-STP in Block 11.

In 2022, Galp drilled Jaca-1, São Tomé’s first offshore exploration well, Jaca-1. This revealed the presence of an active petroleum system. There have been seismic acquisition campaigns and geological studies across the other blocks, the company said in a news release of September 12.