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The company Petrobras has confirmed that it is taking over the operation of Block 3 in São Tomé and Príncipe. Through an agreement with Oranto Petroleum, the South American firm is acquiring a majority 75% stake in this strategic area.
Operations in Block 3 of São Tomé and Príncipe
Once the transaction is completed, the consortium will have Petrobras as the operating leader with three quarters of the control. Oranto will retain 15%, while the National Petroleum Agency of São Tomé and Príncipe will keep its 10%. This structure demonstrates a clear intention to lead field activities in the region directly and effectively.
The company had marked its return to African soil in 2024, and this new move strengthens its presence in an area with latent extraction potential. The central objective is to diversify its asset portfolio. Likewise, the company seeks to ensure continuity of its production through the constant search for new oil deposits and natural gas.
Likewise, this entire process is safeguarded by the organization’s strictest governance protocols. The operation aligns perfectly with the guidelines of the 2026–2030 Business Plan, which prioritizes exploration in less exploited frontiers. Final formalization now rests with the local regulatory authorities, who must grant approval for the relevant permits and authorizations.
Finally, the strategy of partnering with local and global players enables the oil company to mitigate risks and accelerate the learning curve in African waters. Reserve replacement is the driving force behind these large-scale investments.
Source and photo: Petrobras