Petrobras to explore 8 offshore areas near Ivory Coast

Brazilian oil company Petrobras has signed production-sharing agreements with Ivory Coast to explore eight offshore areas, granting it a 90% operational stake in each region. The move aims to boost its oil reserves through new exploration activities in high-potential tropical areas in West Africa. This step is part of the company's strategy to expand its operations beyond Brazil, particularly in Africa, which has become a primary focus for exploration efforts after facing challenges in obtaining licenses within Brazil. The agreements underscore Petrobras's intention to strengthen its presence across the African continent through acquiring new stakes and projects, in response to internal risks and challenges.

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