State-owned Brazilian company Petrobras has submitted a declaration of interest for exploratory blocks in the offshore regions of the Ivory Coast.
This marks the initial step in the acquisition process for these areas, which will be followed by contractual negotiations.
The Ivory Coast Government, via its Council of Ministers, has given the green light to Petrobras’ declaration for nine blocks. The declaration aims to secure exclusivity during the upcoming negotiation phase.
Petrobras emphasises that its decision adheres to the company’s stringent internal governance standards, supporting its long-term strategy to replenish oil and gas reserves through new exploratory ventures, both domestically and internationally.
Petrobras’ strategy focuses on diversifying its exploration portfolio to generate value.
The company has assured stakeholders that it will promptly disclose any significant updates regarding this venture.
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By GlobalDataIn Brazil, Petrobras operates in an integrated and specialised manner in the oil, natural gas and energy industry.
The company has been active in exploration and production in the US since 1987. Petrobras America is currently focused on the sale of oil and gas.
Petrobras recently carried out the first fully remotely controlled subsea operation in the Americas in collaboration with Fugro.
Last month, Petrobras reported a substantial 48.6% surge in net profit to 35.2bn reais for the first quarter of 2025, compared with the same period the previous year. This increase was significantly influenced by one-off events.
Additionally, Petrobras announced a significant discovery of high-quality, contaminant-free oil within the pre-salt layer of Brazil’s Santos Basin.
The oil was found at exploratory well 3-BRSA-1396D-SPS in the Aram block, approximately 248km from Santos, São Paulo, at a water depth of 1,952m.
