Brazil’s state-run oil firm, Petrobras, has made a non-binding offer to acquire a significant stake in Galp Energia’s vast offshore oil discovery in Namibia.
Petrobras’ exploration and production director, Sylvia dos Anjos, shared this news with Reuters in her first interview since assuming her role last month.
If successful, Petrobras would become the operator of the Mopane oil and gas field, which is estimated to hold 10 billion barrels of oil equivalent.
“We are the best deepwater operators,” Anjos stated at an oil and gas conference in Sergipe. “If [Galp] doesn’t choose us, it’s their loss.”
Petrobras is looking for opportunities abroad due to significant challenges in obtaining environmental licenses for new explorations in Brazil.
These difficulties stem from resistance by Indigenous groups and environmental regulators, particularly concerning offshore areas near the Amazon River.
Additionally, labor disputes within the environmental agency Ibama have further delayed licensing.
“We want to work in Brazil, but if we are not welcome, we will go somewhere else, and we will maintain our production,” Anjos emphasized.
More than 12 competitors, including Exxon and Shell, have shown interest in purchasing a 40% stake in Galp Energia’s oil field.
Anjos did not specify whether Petrobras’ bid was for the full 40% or a smaller share.
