Petrobras has approved its entry into the ” DWOB Block “, a strategic exploration area in the deep waters of the Orange Basin , located off the coast of South Africa. This acquisition is part of the company’s international diversification objectives, which seek to restore its oil and gas reserves, both in Brazil and abroad.
Petrobras and the DWOB block
The transaction was approved by Petrobras’ Board of Directors and was carried out through a competitive process led by TotalEnergies, the block’s operator. Petrobras will acquire a 10% stake in the consortium that will be tasked with exploring the Deep Western Orange Basin (DWOB) block, which has great potential, given that significant discoveries have been made in the basin by TotalEnergies , Shell and Galp . The consortium will be composed of TotalEnergies (40%), QatarEnergy (30%), Sezigyn Pty. (20%) and Petrobras (10%).
The company’s participation in the DWOB Block is aligned with the company’s Strategic Plan 2024-2028+ , which seeks to ensure the sustainability of its long-term operations by exploring new frontiers in hydrocarbon production .
The objective is to generate value and increase oil and gas reserves , acting in alliance with other international players. This block in South Africa becomes one of the vital bets for the diversification of its portfolio in regions rich in energy resources.
The deepwater participation of the Orange Basin
The DWOB block is located in an area with high energy potential, at depths of over 3,000 metres, in western South Africa. Recent discoveries in the Orange Basin, made by TotalEnergies and other partners, confirm the rich hydrocarbon resources of the region, establishing South Africa as a new frontier for deepwater oil and gas exploration.
The operation is still subject to approval by South African regulatory authorities, but Petrobras is confident that it will comply with all legal requirements and regulations. This is another step in the international expansion of the company, which has prioritized projects outside Brazil to balance its energy portfolio. In addition, Petrobras guarantees that the acquisition has been carried out under the strictest standards of corporate governance and following its internal processes.
The Deep Western Orange Basin block. Source: Petrobras
This move by the company is not an isolated one, but part of a broader strategy that seeks to strengthen the company’s presence in the most promising regions of the world in terms of natural resources. Petrobras CEO Caio Mário Paes de Andrade has stressed that the project in South Africa is essential to ensure the future growth of the company’s oil and gas reserves, guaranteeing a secure and diversified energy supply.
Follow us on social networks and don’t miss any of our publications!
YouTube LinkedIn Facebook Instagram X
Source and photos: Petrobras
Loading...
