Petrobras Secures Eight Offshore Production Sharing Contracts in Côte d’Ivoire
Brazilian state oil company Petrobras has signed eight production sharing contracts (PSCs) for offshore exploration blocks in Côte d'Ivoire. The agreements, led by its subsidiary Petrobras Netherlands, grant the company a 90% interest and operatorship of each block while PETROCI retains 10%. These PSCs cover high-potential areas along Africa's equatorial margin, aligning with Petrobras' strategy to expand globally and replenish reserves. The move supports long-term sustainability by diversifying exploration activities beyond Brazil. In a related development, Petrobras finalized an LNG sale agreement with Sempra Infrastructure for 800,000 tons annually over two decades from Texas's Port Arthur Liquefaction Terminal. This deal aims to reduce exposure to spot-market volatility and enhance risk management in its natural gas operations. Additionally, the company recently discovered hydrocarbons in a well off Brazil’s coast, further reinforcing exploration momentum.
Topics: exploration international expansion oil and gas production sharing contracts