Petrobras has signed an agreement to acquire a 75 percent stake and take over operatorship of Block 3 offshore São Tomé and Príncipe from Oranto Petroleum Limited.
Under the current structure, Oranto holds a 90 percent stake as operator, while the National Petroleum Agency of São Tomé and Príncipe retains 10 percent. Following completion of the transaction, the new ownership structure will see Petrobras as operator with 75 percent, Oranto with 15 percent, and ANP STP maintaining its 10 percent stake.
The deal marks a further step in Petrobras’ renewed expansion into Africa, where it has been rebuilding its presence since 2024 and already holds interests in other blocks within São Tomé and Príncipe.
According to the company, the acquisition is expected to strengthen exploration activities on the continent, support portfolio diversification, and align with its long term strategy of boosting oil and gas reserves through new frontier exploration and strategic partnerships.
Petrobras noted that the transaction has undergone all required internal governance processes and is consistent with its 2026 to 2030 Business Plan.
Finalisation of the agreement remains subject to the fulfilment of standard conditions, including regulatory and governmental approvals within São Tomé and Príncipe.