Petrobras is exploring opportunities in Argentina, particularly in the gas-rich Vaca Muerta region, while advancing an offshore gas project in Colombia and planning drilling activities in Africa. The company aims to replenish its reserves internationally due to domestic environmental licensing difficulties.
Petrobras, the Brazilian state-run oil company, is actively exploring opportunities in Argentina while simultaneously advancing projects in Colombia and Africa, according to Sylvia dos Anjos, the head of exploration and production. During the CERAWeek conference held in Houston, Anjos revealed that the Vaca Muerta region’s gas resources are of particular interest. A pipeline connecting Argentina, Bolivia, and Brazil could facilitate transporting gas from this region.
In addition to gas, Petrobras is considering oil exploration in Argentina to enhance its reserves, given the challenges the company faces in obtaining environmental licenses for drilling within Brazil.
In Colombia, Petrobras is in the process of drafting a development plan for an offshore project that has discovered approximately 6 trillion cubic feet of gas, pending necessary government approvals. The project is expected to supply around 13 million cubic meters of gas per day through a pipeline to Colombia.
Furthermore, the company has plans for drilling exploratory wells in an oil block in Sao Tome and Principe, anticipated to begin between July and August. Anjos also mentioned that another drilling area in South Africa is set to commence in the second half of the year.
Petrobras is strategically positioning itself to enhance its oil and gas portfolio by exploring opportunities in Argentina and advancing current projects in Colombia and Africa. The company’s pursuit of gas from the Vaca Muerta region and developments in offshore Colombia highlight its commitment to replenishing reserves amid domestic regulatory challenges. Additionally, exploratory efforts in Africa underscore Petrobras’s global expansion strategy.
Original Source: www.tradingview.com
