STORY-TRÅD·politik

Petrobras to explore for oil off equatorial margin of Côte d’Ivoire

Petrobras has signed an exploration contract to search for oil off the equatorial margin of Côte d’Ivoire. The Brazilian company will have the right to explore eight offshore exploration blocks. The contract with the West African country was signed Thursday (Sep. 17) in Abidjan, the economic capital and seat of government. The Brazilian company was represented by Sylvia Anjos, Petrobras’ executive director of exploration and production. Notícias relacionadas:Petrobras boasts highest profit margin among world’s top oil giants.Petrobras negotiates oil exploration in Ghana.Petrobras reports oil discovery at mouth of Amazon river.The contracts are under a production-sharing arrangement. Petrobras will operate in the country through its subsidiary Petrobras Netherlands B.V. (PNBV), which will hold a 90 percent stake in the blocks and serve as the exploration operator. The remaining 10 percent will be held by the Ivorian state-owned company Petroci Holding. According to a statement from Petrobras, the initiative is in line with the strategy to replenish oil and gas reserves through exploration in new frontier areas, both in Brazil and abroad. High potential The company emphasizes that the agreements secure a stake in exploration areas “with high potential on the African equatorial margin.” The company’s president, Magda Chambriard, stated that the new deal gives Petrobras a “significant presence” in Côte d’Ivoire, “a country located in a region with high exploration potential, with geological characteristics similar to those of our sedimentary basins.” “We will apply our experience and technical expertise to these blocks, and we are confident that, with them, we will be able to unlock all the possibilities we believe exist on the African Atlantic margin,” she added. Petrobras around the world The contracts in Côte d’Ivoire mark a step forward for Petrobras in oil and gas exploration in Africa and around the world. On the continent, the state-owned company also operates in Namibia, São Tomé and Príncipe, and South Africa. In August 2026, the oil giant began negotiations for exploration blocks in Ghana. This expansion into Africa marks a return to the region. In the early 2000s, the company operated in Nigeria, Tanzania, Angola, Benin, Gabon, and Namibia, but those interests were later sold. The Americas In addition to Brazil and Africa, Petrobras is involved in oil exploration and production in Argentina, Bolivia, Colombia, and the US. In June 2026, the company signed a memorandum of understanding to establish strategic and technical cooperation with the state-owned company Pemex, with a focus on the Gulf of Mexico.