Petrobras has acquired a 27.5% stake in Block 4 in São Tomé and Príncipe, according to the Advanced Financial Network (ADVFN). The acquisition reinforces the Brazilian company's policy of expanding its presence in the African archipelago. In February 2024, Petrobras had already acquired stakes in three other blocks in São Tomé and Príncipe. The African island's oil and gas potential is recognized worldwide.
Oil and Gas: Partnerships in Block 4
The african government approved the transfer of part of Shell’s participation in Block 4 to two new partners: Galp and Petrobras. Shell previously held 85% of the block. This partnership ensures that the financial and operational responsibilities of the block are shared, reducing risk for Shell while maintaining national sovereignty.
- 27.5% of Block 4 goes to Galp
- 27.5% goes to Petrobras
Shell retains the remaining share
Seismic studies are planned for 2026, marking the next phase of exploration. These studies aim to evaluate the block’s potential, building toward future resource development.
São Tomé and Príncipe Advances in Oil Exploration
São Tomé and Príncipe is stepping into a new era of innovation and economic growth. CST, celebrating 35 years of technological evolution, emphasizes collaboration and national development as it looks to the future.
In the oil and gas sector, significant moves are underway in Block 4 of the country’s Exclusive Economic Zone. Achel transferred 27.5% of the block rights to Galp and 27.5% to Petrobras, strengthening research and exploration. Seismic studies planned for next year will assess the block’s potential, building on past discoveries that, so far, were not commercially viable.
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