Petrobras to buy 75% stake and operatorship in São Tomé Block 3 [Yahoo! Finance]
Petroleo Brasileiro S.A. Petrobras American Depositary Shares representing Preferred Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Yahoo! Finance
The financial terms of the deal have not been closed and its completion is subject to necessary governmental and regulatory approvals. Post-completion, Oranto will hold a 15% interest, while the National Petroleum Agency of São Tomé and Príncipe (ANP-STP) will retain 10%. The current structure of the Block 3 consortium consists of Oranto as operator with a 90% share and ANP-STP with 10%. Petrobras stated that the transaction will boost its exploration activities in Africa and contribute to greater portfolio diversification. The Brazilian energy company also noted that this move supports its long-term strategy to rebuild oil and gas reserves via new exploration projects and partnerships. The agreement aligns with Petrobras' Business Plan 2026–2030 and has followed internal governance processes. Petrobras resumed operations in Africa in 2024, having previously acquired interests in other offshore blocks in São Tomé and Príncipe, including Blocks 10, 11 and 13, and later dis
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