Petróleo Brasileiro S.A. – Petrobras signed an agreement to acquire a 75% stake and take over operatorship of offshore Block 3 in São Tomé and Príncipe.
Petrobras is acquiring the stake from Oranto Petroleum.
Previously, Oranto held 90% of the block and acted as the operator.
Petrobras (Operator): 75%
Oranto Petroleum: 15%
ANP-STP (National Petroleum Agency of São Tomé and Príncipe): 10%
The move aligns with Petrobras’ 2026–2030 strategy to diversify its portfolio and replenish oil and gas reserves through frontier exploration.
Petrobras resumed operations in Africa in 2024 and already holds interests in other blocks within the country.
The transaction is subject to regulatory approvals from the government of São Tomé and Príncipe.
Note by Alessandro Bazzoni