02:55 PM EDT, 08/02/2024 (MT Newswires) -- Petrobras (PBR) plans to partner up for its bid on a 40% stake in Galp Energia's Mopane oil prospect off Namibia's coast, Reuters reported Friday, citing sources.

The company will not pursue the full stake alone, aiming "to dilute the risk with partners," sources told Reuters.

Petrobras director of exploration and production Sylvia dos Anjos last week reportedly told Reuters that the company made a non-binding offer to operate the Mopane block, though the exact size of the stake was not specified.

Petrobras did not immediately respond to MT Newswires' request for comment.

Petrobras shares fell nearly 3% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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