Petrobras is acquiring a 10% interest in the Deep Western Orange Basin (DWOB) Block offshore South Africa following a competitive process conducted by operator TotalEnergies.
The deepwater concession is in the Orange Basin, close to various large recent discoveries in Namibian waters operated by TotalEnergies, Shell and Galp.
QatarEnergy and Sezigyn are the other DWOB partners.
Petrobras said the farm-in was consistent with its long-term strategy of replacing its oil and gas reserves replacement through exploring new frontiers, both in Brazil and elsewehere, and acting in partnership.
