Brazil’s Petrobras to join South Africa deepwater block
JOHANNESBURG, October 2, 2024 – Brazil’s Petrobras will take a 10% stake in a TotalEnergies-operated deepwater block offshore South Africa, the company revealed on Tuesday.
The NOC said in a securities filing that its board had approved plans to acquire the stake in the Deep Western Orange Basin (DWOB).
The DWOB asset lies in the prolific Orange Basin, which has generated major international interest following a string of discoveries on its Namibian side.
TotalEnergies will retain a 40% stake in the block, where QatarEnergy holds 30% and Sezigyn holds 20%.
Petrobras has an expanding international presence driven by a focus on reserves replacement through frontier exploration partnerships.
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