Petrobras' focus remains Brazil despite Africa plans, director says

Petrobras, the state-owned oil company in Brazil, has its main focus on its own country. Its director of exploration, production, said this Thursday. He added that Brazil remained a top priority, even though it plans to expand into Africa.

Petrobras, which is looking to replenish its oil reserves in the future, has publicly expressed interest in expanding their oil fields in Africa. This move comes after years of the company focusing on Brazil.

Director Sylvia dos Anjos said in an interview that the Brazilian oil giant has evaluated billion-dollar blocks across Africa. She added that over ten opportunities had been assessed by the company.

Anjos told a crowd of oil and gas industry professionals in Rio de Janeiro, "We can maintain both campaigns: the campaign here in Brazil and the one in Africa." "Our top priority is Brazil," added Anjos.

Anjos made his comments after the director said in July the company would move to another country if it was not welcomed in Brazil.

Petrobras is struggling to get environmental permits to drill for oil, which has delayed exploration plans in Brazil's most promising oil frontier - the so called Equatorial Margin.

Director said that Petrobras plans for Africa could include partnering with oil companies such as Exxon, Shell, and TotalEnergies.

Anjos stated that "multiple major oil companies have offered us proposals for entering the blocks they already own", without providing further details.

Petrobras made a non-bidding bid in the sale process launched by Portugal's Galp for Namibia's Mopane Oil and Gas Exploration Block.

Anjos added that the firm is also looking at opportunities in South Africa and Angola. (Reporting from Rodrigo Viga Gaier, Rio de Janeiro. Writing by Andre Romani. Editing by Aurora Ellis.)

(source: Reuters)