(WO) — Petrobras has signed production-sharing contracts (PSCs) for eight offshore exploration blocks in Côte d’Ivoire, establishing a significant operated position along the African Atlantic margin.
The agreements cover blocks CI-513, CI-600, CI-601, CI-602, CI-603, CI-605, CI-701 and CI-702. Petrobras, through wholly owned subsidiary Petrobras Netherlands B.V. (PNBV), will operate the blocks with a 90% interest, while Côte d’Ivoire’s state-owned PETROCI Holding will hold the remaining 10%.
The contracts were signed Sept. 17 in Abidjan between Petrobras, the Republic of Côte d’Ivoire and PETROCI. Sylvia Anjos, Petrobras’ executive director of exploration and production, attended the signing ceremony.
“With this acquisition, Petrobras assumes a relevant presence in Côte d’Ivoire, a country located in a region of high exploratory potential, with geological characteristics similar to those of our sedimentary basins,” said Petrobras President Magda Chambriard.
Chambriard said Petrobras plans to apply its exploration experience and technical capabilities to evaluate the potential of the acreage along the African Atlantic margin.
The expansion is part of Petrobras’ strategy to replenish oil and gas reserves by pursuing new exploration frontiers in Brazil and internationally. The company said adding international opportunities will also diversify its exploration portfolio.
Petrobras did not disclose planned exploration spending, drilling commitments or timelines for the eight blocks.
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