The company joins consortiums with the companies Shell and Galp, in addition to the National Petroleum Agency of the African country

Petrobras has completed the acquisition of shares in the three exploration blocks (10, 11 and 13), in São Tomé and Príncipe, Africa, and signed amendments to the production sharing contracts and Joint Operating Agreements corresponding companies, becoming part of the consortia of the aforementioned blocks.

In this way, Petrobras acquired a 45% interest in blocks 10 and 13 and a 25% interest in block 11, with the consortia having the following composition:

• Block 10: Shell, operator (40%), Petrobras (45%) and ANP-STP (15%)
• Block 11: Shell, operator (40%), Petrobras (25%), Galp (20%) and ANP -STP (15%)
• Block 13: Shell, operator (40%), Petrobras (45%) and ANP-STP (15%)

The operation marks the resumption of exploratory operations on the African continent, with the purpose of portfolio diversification, and is aligned with the Company's long-term strategy, aiming to restore oil and gas reserves through the exploration of new frontiers and operations in partnership.

“Our Exploration and Production teams are constantly analyzing opportunities in new areas that are strategic for replenishing reserves. In the case of São Tomé and Príncipe, we analyzed it as a good opportunity, especially because we are working together with important industry partners, which will allow us to share expertise and also possible risks”, says the director of Exploration and Production at Petrobras, Joelson Mendes.

KeyFacts Energy: Petronas São Tomé and Príncipe country profile