Petrobras has received board approval to acquire a 10% stake in South Africa’s Deep Western Orange Basin (DWOB) block from TotalEnergies.
The DWOB block is located in deep waters of the Orange Basin, an area where significant oil discoveries have recently been made by TotalEnergies, Shell, and Galp.
Following the acquisition, Petrobras will hold a 10% stake in the DWOB block, joining a consortium led by TotalEnergies (40% and operator), along with QatarEnergy (30%) and Sezigyn (20%).
This move is part of Petrobras’ strategy to diversify its exploration portfolio and add value by exploring new oil and gas frontiers both in Brazil and internationally through strategic partnerships.
