Brazilian oil major Petrobras has signed an agreement to acquire a stake and assume operatorship of Block 3, offshore São Tomé and Príncipe, from Oranto Petroleum Limited (Oranto), the company said in a statement.
The current consortium comprises Oranto, the operator with a 90% stake, and the National Petroleum Agency of São Tomé and Príncipe (ANP-STP), with 10%. Petrobras will acquire a 75% stake and, upon completion of the transaction, the consortium will consist of Petrobras (operator, 75%), Oranto (15%), and ANP-STP (10%).
Since 2024, Petrobras has resumed its activities on the African continent and already holds interests in blocks in São Tomé and Príncipe.
The transaction strengthens exploratory activity in Africa, supports portfolio diversification, and aligns with the company’s long-term strategy to replenish oil and gas reserves through the exploration of new frontiers and partnerships.
The acquisition of the block in São Tomé and Príncipe has followed all internal governance procedures and is in line with the company’s 2026–2030 Business Plan.
Completion of the transaction is subject to the fulfillment of certain conditions precedent, including applicable governmental and regulatory approvals in São Tomé and Príncipe.
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