A declaration has been approved by the African country, marking the first phase of the process to acquire the areas, to be followed by negotiations of the respective contracts, Petrobras announced on Wednesday.
According to the company’s statement, the declaration aims “to ensure exclusivity in the negotiation of the areas” and is part of Petrobras’ strategy to recover oil and gas reserves.
Located in the deep waters of the Atlantic Ocean, the areas of interest to the Brazilian oil company are considered to have “great potential” due to their geological similarity to the Campos and Santos basins in Brazil, the most prolific for hydrocarbon exploration in the South American country.
“The location of the Ivory Coast in the Atlantic portion of Africa is of great interest to Petrobras. We have a lot of experience in this region, on the Brazilian side, and we believe we can achieve significant results on the other side of the ocean as well,” said company president Magda Chambriard.
The executive emphasized that the initiative seeks to diversify the exploratory portfolio of the oil company and strengthen the company’s reserves.
Petrobras explained that the decision aligns with the company’s long-term strategic plan, which prioritizes the exploration of new frontiers, both in Brazil and abroad.
