Petrobras is exploring opportunities in Argentina while progressing in Colombia and Africa. The Vaca Muerta region’s gas interests align with a pipeline connection to Brazil. The company is working on an offshore project in Colombia and anticipates drilling in Africa in mid-2023 to expand its oil and gas portfolio.
Petrobras, the Brazilian state-run oil company, is assessing potential ventures in Argentina while simultaneously making progress on its projects in Colombia and Africa, as stated by Sylvia dos Anjos, the firm’s head of exploration and production. Anjos noted that gas from the Vaca Muerta region is of particular interest to Petrobras due to an existing pipeline network that connects Argentina, Bolivia, and Brazil, facilitating transportation.
Additionally, Petrobras aims to explore oil opportunities within Argentina. The company is keen on replenishing its oil reserves through overseas projects, especially given the ongoing challenges in obtaining environmental licenses for drilling activities in Brazil.
In Colombia, Petrobras is in the process of drafting a development plan for an offshore project where significant gas deposits, estimated at 6 trillion cubic feet, have been discovered. The firm is currently awaiting a government license to proceed; once secured, the project will supply approximately 13 million cubic meters of gas daily to Colombia via pipeline, according to Anjos.
Meanwhile, in Africa, Petrobras anticipates drilling exploratory wells in July and August within an oil block in Sao Tome and Principe, where it holds a stake. Anjos also mentioned the intention to begin drilling in another area located in South Africa during the latter half of the year.
Petrobras is strategically exploring new opportunities in Argentina and advancing its projects in Colombia and Africa amidst domestic challenges in Brazil. The potential for gas and oil ventures in Argentina aligns with its objectives to replenish reserves. Moreover, developments in Colombia and Africa underscore Petrobras’s commitment to diversifying its portfolio and enhancing its global reach.
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