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Petrobras Expands Africa Push With São Tomé Block 3 Deal

By Charles Kennedy - Apr 19, 2026,

etrobras is expanding its footprint in São Tomé and Príncipe after signing a contract to buy a 75% interest in offshore Block 3 from Oranto Petroleum and assume operatorship of the acreage, according to the company. The transaction would reshape the consortium to Petrobras with 75%, Oranto with 15%, and the national oil agency ANP-STP with 10%, subject to government and regulatory approvals in São Tomé and Príncipe.

The move marks another step in Petrobras’ return to African exploration, a strategy the Brazilian major restarted in 2024. Petrobras has already built a position in São Tomé and Príncipe through earlier acquisitions in Blocks 10, 11, and 13, and later disclosed a separate acquisition in Block 4, underscoring a broader push to rebuild reserves through frontier exploration and partnerships.

That matters because São Tomé and Príncipe remains an underexplored frontier basin where majors and regional players have sought exposure to high-risk, high-upside offshore prospects. For Petrobras, the Block 3 deal fits its 2026-2030 business plan and supports a familiar strategic logic: use selective international exploration to diversify the portfolio while reinforcing longer-term oil and gas reserve replacement. That approach also aligns with the company’s recent messaging around re-entering Africa after years of limited activity outside Brazil.

While Petrobras did not disclose financial terms, the transaction gives it control of another exploration asset in a basin where it is steadily increasing its scale. Investors will likely focus on whether the company can translate that larger São Tomé position into commercially viable discoveries, particularly as international oil companies continue to balance frontier exploration against capital discipline.

The 34,548 square kilometer Joint Development Zone is situated in an overlapping maritime border area between São Tomé and Príncipe and Nigeria, with any petroleum revenues split 40:60 (respectively) between the two countries. The area was designated in 2003 and divided into nine blocks, and opened for bidding in 2004. Oranto entered Block 5 in 2012 after the exit of ERHC and is now seeking farm-in partners to explore the block. Oranto also operates Block 3, covering 4,228 square kilometers in the São Tomé and Príncipe exclusive zone to the south.

The entire block is covered by a 2014 vintage 3D survey. Interpretation has yielded numerous DH1 supported gas filled structures within the Niger Delta toe thrust succession. Recoverable reserve estimates are greater than 4.5 TCF. Encompassing an area of 1,000 square kilometers, the JDZ Block 5 licence presents a farm in partner with the opportunity to enter a frontier deepwater Gulf of Guinea petroleum province with proven and producing discoveries to the north and east. The block lies directly on trend with the Niger Delta toe thrust and forethrust discoveries made by Ophir Energy in Equatorial Guinea Block R.

Total signe trois blocs d’exploration dans la zone de développement conjointe entre le Nigeria et Sao Tomé

Agence Ecofin. 15 mars 2011

Jeudi, les gouvernements du Nigeria et de Sao Tomé-et-Principe ont signé avec le producteur français Total, un contrat de partage de production couvrant trois blocs dans leur zone de développement commune (JDZ). Il s’agit des blocs en mer 7, 8 et 11.

Les réserves estimées des blocs 7, 8 et 11 n'ont pas été dévoilées, mais Total sera le premier à réaliser des études sismiques 3D sur place, précise un communiqué de Nicolas Terraz (photo), directeur général de Total E&P. Il a ajouté qu’à cette étape, Total investirait dans 100% des activités, mais cherchera des partenaires au fur et à mesure des découvertes.

Selon Almajiri Geidam, le responsable de la zone, la signature de ce contrat vise à relancer les activités d’exploration après plusieurs années d’inactivité. Geidam a ajouté que l’objectif est de raviver l'intérêt des investisseurs et des compagnies pétrolières pour la région.

Depuis sa création en janvier 2002, la zone a fait l’objet de deux cycles de licences qui ont abouti à l'attribution de six blocs.