Petrobras acquires Block 3 offshore São Tomé

Petrobras has completed the acquisition of a 75% operated interest in Block 3 offshore São Tomé and Príncipe, expanding its exploration portfolio in Africa. The transaction, first announced on April 17, 2026, sees Petrobras as operator with 75%, Oranto Petroleum retaining 15%, and the São Tomé and Príncipe — National Petroleum Agency of São Tomé and Príncipe holding 10%. The block is located in the Gulf of Guinea and is considered a frontier exploration asset with no commercial discoveries yet. Petrobras stated the deal aligns with its strategy to replenish oil and gas reserves through new frontiers both in Brazil and abroad, diversifying its exploration portfolio and promoting long-term sustainability. The acquisition strengthens Petrobras' presence in West Africa, a region with geological similarities to Brazil's pre-salt basins.