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Petrobras' focus remains Brazil despite Africa plans, director says
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Petrobras' focus remains Brazil despite Africa plans, director says
Sep 27, 2024 7:55 PM

RIO DE JANEIRO, Sept 26 (Reuters) - The main focus of

Brazil state-run oil firm Petrobras remains in its

home country, its director of exploration and production said on

Thursday, adding that Brazil was a priority even as it intends

to expand into Africa.

Petrobras has been publicly showing interest in expanding

its oil fields in Africa as it seeks to renew its oil reserves

for the future. The move follows years of a more Brazil-focused

approach by the firm.

The Brazilian oil giant is evaluating billion-dollar blocks

in Africa, director Sylvia dos Anjos told Reuters in an

interview, adding that more than ten opportunities have been

analyzed by the company.

"We can keep both: the campaign in Africa and here (in

Brazil)," Anjos said on the sidelines of an oil and gas event in

Rio de Janeiro. "Our number one priority is Brazil," she added.

Anjos' comments come after the director had said in July

that the if the firm was not welcome in Brazil, it would go

somewhere else to maintain production.

Petrobras has been struggling to obtain environmental

licenses to drill for oil in Brazil, delaying exploration plans

for its most promising oil frontier, in the so-called Equatorial

Margin.

The director said on Thursday Petrobras' plans in Africa

include potentially partnering with global oil firms, such as

Exxon , Shell and TotalEnergies.

"Several major oil firms have offered us proposals to enter

the blocks they already have," Anjos said, without giving

further details.

Petrobras has already made an non-bidding offer in the sale

process opened by Portugal's Galp regarding Namibia's Mopane oil

and gas exploration block.

Beyond Namibia, Anjos said the firm is also analyzing

opportunities in South Africa, Sao Tome and Principe and Angola.

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