Petroleo Brasileiro SA- Petrobras (PBR) has released an update.
Petrobras has announced approval from its Board of Directors to acquire a 10% stake in the Deep Western Orange Basin block in South Africa, as part of a consortium including TotalEnergies, QatarEnergy, and Sezigyn Pty. This move is part of Petrobras’s strategy to diversify its exploration portfolio and to generate value by exploring new frontiers in oil and gas reserves, in alignment with its Strategic Plan 2024-2028+. The acquisition is pending approval from local regulatory authorities and adheres to the company’s governance standards.
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