Petrobras takes stake in further block offshore São Tomé and Príncipe
Petrobras has agreed to farm in as operator of Block 3, offshore São Tomé and Príncipe, West Africa.
Subject to government approvals, the company will hold a 75% interest in the exploration block, with current operator Oranto Petroleum retaining 15% and the National Petroleum Agency of São Tomé and Príncipe (ANP-STP) 10%.
Petrobras, which already holds interests in other blocks offshore São Tomé and Príncipe, said the transaction lines up with its long-term strategy of replenishing its oil and gas reserves through the exploration of new frontier regions and partnerships, and its Business Plan 2026-2030.
About the Author
Jeremy Beckman
Editor, Europe
Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.