Petrobras Secures Eight Offshore Blocks in Côte d’Ivoire
Petrobras Secures Eight Offshore Blocks in Côte d’Ivoire
Anonymous
Key Points
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The contracts cover the specific offshore blocks CI-513, CI-600, CI-601, CI-602, CI-603, CI-605, CI-701 and CI-702.
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Côte d’Ivoire said in June that negotiations for the eight blocks had concluded and that their allocation would raise the occupancy rate of the country’s national sedimentary basin to 75%.
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The Côte d’Ivoire agreements follow Petrobras’ entry into negotiations for four exploration blocks in Ghana’s Keta Basin, showing that the company’s regional expansion extends beyond the Ivorian acreage.
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Petrobras CEO Magda Chambriard had previewed the deal at an event the day before it was announced, specifically describing the Côte d’Ivoire acreage as ultra-deepwater blocks that would broaden the company’s exploration portfolio.
Petrobras has signed production-sharing contracts for eight offshore exploration blocks in Côte d'Ivoire, marking a major expansion of the Brazilian oil giant's presence in West Africa Offshore Technology. Through its subsidiary Petrobras Netherlands B.V., the company will operate the blocks and hold a 90% stake, while Côte d'Ivoire's state-owned PETROCI Holding retains 10% MarketScreener. The ultra-deepwater acreage is part of Petrobras' strategy to replenish reserves and prepare for an expected production peak around 2035 African Energy Chamber.
Eight Deep-Water Blocks Across West Africa's Margin
The eight offshore blocks—CI-513, CI-600, CI-601, CI-602, CI-603, CI-605, CI-701 and CI-702—are located along Africa's equatorial margin, with some in ultra-deepwater zones Offshore Technology. The acreage allocation raises Côte d'Ivoire's national sedimentary basin occupancy rate to 75%, according to the country's government announcement in June MarketScreener. These blocks position Petrobras to explore promising deepwater frontiers while diversifying its oil and gas portfolio beyond Brazil.
West African Expansion Extends Into Ghana
Petrobras' ambitions in West Africa stretch beyond Côte d'Ivoire. The company is also negotiating for four exploration blocks in Ghana's Keta Basin MarketScreener, signaling a broader regional strategy to secure new reserves across multiple countries. These moves reflect Petrobras' shift toward international exploration to complement its domestic Brazilian operations and hedge against long-term production uncertainty.
CEO Previews Deepwater Strategy Before Official Announcement
Petrobras CEO Magda Chambriard announced the deal one day after publicly describing the Côte d'Ivoire blocks as ultra-deepwater acreage that would broaden the company's exploration capabilities Offshore Technology. Her preview underscored management confidence in the deal and signaled the strategic importance of West African deepwater exploration. The blocks align with Petrobras' long-term vision to boost reserve replacement ahead of peak production in 2035.
Replenishing Reserves as Production Peaks in 2035
The Côte d'Ivoire deal is central to Petrobras' strategy to replenish reserves as it approaches an expected production peak around 2035 African Energy Chamber. New deepwater exploration in West Africa offers growth potential beyond Brazil's mature fields. By securing long-term acreage abroad, Petrobras aims to maintain production and shareholder value after its domestic peak passes.
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