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As part of its international expansion strategy, Petrobras Netherlands B.V., a subsidiary of the Brazilian energy group, formalized the signing of production-sharing contracts to explore eight offshore blocks in Côte d’Ivoire.
As a result, the entity will assume technical operations with a 90% majority stake in the designated assets.
Details of the offshore production-sharing block contracts
The awarded blocks cover the geographic designations CI-513, CI-600, CI-601, CI-602, CI-603, CI-605, CI-701 and CI-702. Côte d’Ivoire’s state-owned company Petroci will retain the remaining 10% stake in each of the granted licenses.
This transaction strengthens the corporation’s presence in high geological-potential assets located off the coast of West Africa. It also adds to negotiations recently launched to acquire four exploration blocks in the Keta Basin in Ghana.
Against this backdrop, the South American corporation is strengthening its commitment to developing hydrocarbon reserves through strategic partnerships in the region.
Source and photo: Petrobras
