Petrobras is exploring opportunities in Argentina focusing on gas from Vaca Muerta and oil projects, while advancing plans in Colombia and Africa. The company aims to replenish its reserves amid domestic licensing challenges.
Petrobras, the state-run oil company of Brazil, is exploring potential opportunities in Argentina while also progressing with projects in Colombia and Africa, according to Sylvia dos Anjos, the firm’s head of exploration and production. She indicated that natural gas from the Vaca Muerta region, linked by a pipeline that connects Argentina, Bolivia, and Brazil, holds considerable interest for the company.
Additionally, Petrobras is keen to explore oil opportunities in Argentina. The firm’s current strategy focuses on replenishing its oil reserves through international projects, especially due to challenges in securing environmental licenses for drilling within Brazil.
In Colombia, Petrobras is in the process of formulating a development plan for an offshore project that has yielded discoveries of approximately 6 trillion cubic feet of gas. The project aims to supply around 13 million cubic meters of gas per day to Colombia via pipeline, pending the necessary government approvals.
Furthermore, in Africa, Petrobras anticipates initiating drilling operations for exploratory wells in an oil block in São Tomé and Príncipe between July and August. Plans for drilling another area in South Africa are expected to be initiated in the latter half of the year, as stated by Ms. dos Anjos.
In summary, Petrobras is strategically seeking opportunities in Argentina, focusing on natural gas from Vaca Muerta and oil exploration, while continuing to develop plans in Colombia and Africa. The company’s initiatives demonstrate a proactive approach to expanding its international footprint and addressing domestic challenges.
Original Source: www.tradingview.com
