Petrobras has expanded its presence in Ivory Coast’s offshore sector by advancing production sharing contracts for eight exploration blocks. The move gives the Brazilian energy company access to about 63,000 square kilometers of offshore acreage and supports Ivory Coast’s efforts to strengthen its position as a leading oil and gas producer in Africa.
The agreement comes as countries across Africa seek to attract more exploration investment. Ivory Coast has gained attention in recent years following a series of discoveries, a supportive regulatory framework, and the availability of more geological data, according to Eurasia Review.
Petrobras brings decades of offshore development experience, particularly in deepwater and ultra-deepwater operations. The company has built much of this expertise through work in Brazil’s pre-salt basins, where challenging geological conditions required advanced drilling technologies and complex production solutions.
The newly acquired blocks span areas from relatively shallow waters to offshore zones deeper than 4,000 meters. Developing resources in such environments requires significant technical capability and operational experience. Petrobras’ track record in similar settings could help speed up the assessment of these prospects and improve the chances of commercial discoveries.
source: finance.yahoo.com
African Energy Council