Petrobras Signs Eight Production-Sharing Contracts in Côte d’Ivoire

(Credit: Petrobras Agency)

Petrobras, through its wholly owned subsidiary Petrobras Netherlands (PNBV), the Republic of Côte d’Ivoire and PETROCI Holding signed Production Sharing Contracts (PSCs) for eight offshore exploration blocks located in Côte d’Ivoire.

The PSCs cover offshore blocks CI-513, CI-600, CI-601, CI-602, CI-603, CI-605, CI-701 and CI-702. Petrobras, through PNBV, will hold a 90% interest and serve as operator, while local state-owned company PETROCI Holding will hold the remaining 10% interest.

The signing ceremony was held on September 17 and was attended by Petrobras Executive Director of Exploration and Production Sylvia Anjos.

“With this acquisition, Petrobras establishes a significant presence in Côte d’Ivoire, a country located in a region with high exploration potential and geological characteristics similar to those of our sedimentary basins. We will apply our experience and technical capabilities to these blocks, and we are confident that, with them, we will be able to unlock all the possibilities we believe exist along the African Atlantic margin,” said Magda Chambriard, Petrobras’ CEO.

The initiative is aligned with Petrobras’ strategy of replenishing its oil and gas reserves through exploration in new frontier areas, both in Brazil and abroad, as set out in its Business Plan.

The assessment of new opportunities is intended to diversify the company’s exploration portfolio, generate value and support the long-term sustainability of its business.