Global energy heavyweight Petrobras has re-entered the African oil and gas landscape, securing a new offshore asset as part of a broader strategy to expand its international upstream portfolio and tap into high-potential deepwater resources.
The move comes in partnership with TotalEnergies, which also acquired a 42.5% stake and will operate the asset. Local partners Eight and Namcor Exploration and Production will hold 5% and 10% respectively, while Maravilla Oil & Gas is selling its stake.
For much of the 2010s, the company focused almost exclusively on Brazil’s deepwater pre-salt basins, headquartered in Rio de Janeiro, and scaled back African operations in countries including Angola, Nigeria, and Ghana due to regulatory hurdles, high exploration costs, and lower expected returns.
During this period, Africa was largely sidelined in favor of domestic projects, leaving the continent underexplored by the Brazilian oil giant.
Petrobras’ African comeback
CEO Magda Chambriard told Reuters that the company plans to make Africa its main hub for development, highlighting Namibia, Angola, and Nigeria as priority markets.
Analysts see the Namibia offshore acquisition as part of a broader global trend, with major energy players such as TotalEnergies and Chevron increasing investment in West and Southern Africa to meet growing global demand.
Industry observers note that such strategic positioning allows the company to leverage technical expertise in deepwater exploration while gaining early access to emerging hydrocarbon provinces.
By re-establishing itself on the continent, Petrobras reinforces its long-term African strategy and contributes to Namibia’s evolution as an energy hub. Completion of the acquisition remains subject to regulatory approvals and customary conditions, but the deal is widely seen as a strong signal of the company’s renewed commitment to Africa and its potential as a growth market.
