The Brazilian state-owned company Petrobras plans to expand its operations and acquire oil fields in African countries with the aim of increasing its reserves, in light of the forecasted decline in production starting in 2030. In the United States, the company operates in deep waters of the Gulf of Mexico in partnership with Murphy Exploration & Production Company. In 2024, Petrobras's total oil and natural gas production reached 2.7 million barrels of oil equivalent per day (boed).
According to Sylvia Anjos, Petrobras's Director of Exploration and Production, the company is interested in wells primarily in Angola, Namibia, and South Africa. Petrobras is in talks with multinationals such as ExxonMobil, Shell, and TotalEnergies, companies that already collaborate with Petrobras in oil production in Brazil. The company resumed operations on the African continent last year, acquiring stakes in exploratory blocks in São Tomé and Príncipe in February 2024.
In addition to its operations in Africa, Petrobras has a presence in South America, including Colombia, where in December 2024 it announced the discovery of the largest gas reserve in the country's history at the Sirius-2 well, in partnership with the state-owned Ecopetrol. It is also interested in the Equatorial Margin on the northern coast of Brazil, a region with significant exploration potential known as the 'new pre-salt.'
Petrobras reported that its proven reserves of oil, condensate, and natural gas amount to 11.4 billion barrels of oil equivalent (boe), with 85% corresponding to oil and condensate, and 15% to natural gas. The company shows interest in the Pelotas Basin on the southern coast of Brazil, where it owns 29 exploratory wells and has added 1.3 billion barrels to these reserves during 2024.
