Key Metrics
11.46
Heat Index-
Impact LevelLow
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Scope LevelRegional
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Last Update2025-08-03
Key Impacts
Positive Impacts (16)
Event Overview
Brazil's state-owned Petrobras is expanding its exploratory operations in Africa, focusing on Côte d'Ivoire. The company submitted a declaration of interest for nine offshore exploration blocks, marking the first phase of acquisition. The Ivorian government approved the move, aligning with Petrobras' strategy to explore new frontiers. CEO Magda Chambriard highlighted the region's strategic importance, drawing parallels to Brazil's Campos and Santos basins. The country aims to attract $6.56 billion in investments, including $2 billion for renewables. BP and Vitol also show interest, with Petrobras aiming for exclusivity in negotiations. Drilling operations are expected to begin in Q4 2025.
Collect Records
Petrobras Aims to Make Africa Its Main Exploratory Region Outside Brazil
Brazil's state-owned energy giant Petrobras has taken significant steps to expand its exploratory operations in Africa, particularly in Côte d'Ivoire (Ivory Coast). The company submitted a declaration of interest for nine offshore exploration blocks in the country, marking the first phase of the acquisition process. This move aligns with Petrobras' long-term strategy to replenish oil and gas reserves by exploring new frontiers beyond Brazil. The Côte d'Ivoire government approved Petrobras' declaration, paving the way for contractual negotiations. Petrobras CEO Magda Chambriard emphasized the strategic importance of Ivory Coast's geographic location on the African Atlantic coast, citing the company's extensive experience in similar regions like Brazil's Campos and Santos basins. The country's National Energy Compact, unveiled in January 2025, aims to attract $6.56 billion in investments, including $2 billion in private funding for renewable energy and electricity access. Other major players like BP and Vitol have also expressed interest in Ivorian offshore exploration, highlighting the region's growing appeal. BP, returning to Côte d'Ivoire after a decade, plans to acquire data for refining block selection. Petrobras, a new entrant, aims to secure exclusivity during negotiations and diversify its portfolio. The rig for drilling operations is set to arrive in Q4 2025 after undergoing recertification in Bahrain.