Brazil’s oil giant Petrobras is making waves in Namibia, eyeing a whopping 40% stake in the coveted Mopane oil and gas block. It is not just dipping its toes in the water – Petrobras wants to dive in headfirst and take the reins as operator.
Sylvia dos Anjos, the company’s Exploration and Production Director, did not mince words. “Operating with less than 40% is very bad,” she said, making it clear that Petrobras is going all in or not at all. They are not interested in playing second fiddle.
This is not just another business deal. It is a bold move that could reshape the energy landscape in the region. Petrobras is flexing its muscles, showing it is ready to venture beyond its home turf in Brazil.
The prize? A chunk of Portugal’s Galp stake in the Mopane block. But it is not a done deal yet. Despite making a non-binding offer back in July, Anjos admits there has been “no progress” so far. It is a high-stakes game of wait-and-see.
Why Namibia, you ask? Well, Petrobras knows Africa “very well,” according to Anjos. It is like they are eyeing an old friend’s property, seeing potential where others might not.
As the oil world watches, one thing is clear – Petrobras is not afraid to go big. They are not just dipping their toes in Namibian waters; they are ready to make a splash.