Petrobras has secured 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 in the Orange Basin, where there have recently been significant discoveries by TotalEnergies, Shell, and Galp.
As a result, Petrobras will have a 10% stake in the DWOB block, and the consortium will use TotalEnergies, operator (40%), QatarEnergy (30%), Sezigyn (20%), and Petrobras (10%).
The operation aims to diversify Petrobras’ exploration portfolio and generate value, aligning with its long-term strategy to replace oil and gas reserves by exploring new frontiers, both in Brazil and internationally, through strategic partnerships.
