Petrobras is targeting opportunities in Argentina’s oil and gas sectors while advancing projects in Colombia and Africa. The company is interested in Vaca Muerta gas, is drafting plans for offshore Colombia, and preparing for drilling in African oil blocks.
Petrobras, the Brazilian state-run oil company, is exploring potential opportunities in Argentina, as revealed by its head of exploration and production, Sylvia dos Anjos. During the CERAWeek conference in Houston, Anjos emphasized that the gas from Argentina’s Vaca Muerta region is appealing, particularly with a proposed pipeline connecting Argentina, Bolivia, and Brazil which could facilitate transport.
Additionally, Anjos indicated that Petrobras is actively seeking oil investment opportunities in Argentina. This move coincides with the company’s efforts to replenish its oil reserves internationally, especially given the challenges it faces obtaining environmental licenses for drilling within Brazil.
In Colombia, Petrobras is preparing a development plan for an offshore project that has revealed 6 trillion cubic feet of gas. They are currently awaiting the necessary government license to proceed, with expectations to supply approximately 13 million cubic meters of gas daily to Colombia via a pipeline.
In Africa, Petrobras has plans to drill exploratory wells in an oil block in São Tomé and Príncipe between July and August. Moreover, drilling in another area in South Africa is scheduled for the latter half of the year, as stated by Anjos.
In summary, Petrobras is strategically focusing on growth opportunities in Argentina, alongside significant developments in Colombia and Africa. The company’s efforts to secure gas from Vaca Muerta and augment its oil reserves internationally reflect its adaptive strategies in response to regional challenges, especially regarding environmental regulations in Brazil.
Original Source: www.tradingview.com
