Petrobras Secures Exploration Rights in Côte d’Ivoire’s Equatorial Margin

Petrobras signed a production‑sharing contract on September 17 to explore eight offshore blocks off the equatorial margin of Côte d’Ivoire. The deal gives the Brazilian firm a 90 % stake in the blocks, with the Ivorian state‑owned Petroci Holding holding the remaining 10 %. Petrobras will operate through its subsidiary Petrobras Netherlands B. V. , which will manage the exploration activities. The company says the blocks sit in an area with high potential, comparable to its own sedimentary basins, and that its experience could unlock new resources on the African Atlantic margin. The agreement follows earlier moves into Africa, where Petrobras has interests in Namibia, São Tomé and Príncipe and South Africa, and follows recent negotiations for blocks in Ghana. The expansion is part of Petrobras’ strategy to replenish reserves by targeting frontier areas abroad.