{"id":23399,"date":"2026-02-06T12:10:22","date_gmt":"2026-02-06T10:10:22","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/brazils-petrobras-buys-stake-in-namibia-offshore-oil-exploration-block\/"},"modified":"2026-02-27T16:34:12","modified_gmt":"2026-02-27T14:34:12","slug":"brazils-petrobras-buys-stake-in-namibia-offshore-oil-exploration-block","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/brazils-petrobras-buys-stake-in-namibia-offshore-oil-exploration-block\/","title":{"rendered":"Brazil&#8217;s Petrobras buys stake in Namibia offshore oil exploration block \u00a0"},"content":{"rendered":"<p>Brazil&#8217;s Petrobras has purchased a 42.5% stake in an oil exploration field off the coast of Namibia, the state-run company said this Friday, seeking to tap new exploration frontiers in Africa to replenish oil reserves.<\/p>\n<p>&nbsp;<\/p>\n<p>The deal was in partnership with TotalEnergies, which also acquired a 42.5% stake and will operate the asset, Petrobras said in a securities filing without disclosing the transaction&#8217;s value.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8220;This acquisition marks Petrobras&#8217; return to Namibia and is aligned with the company&#8217;s long-term strategy,&#8221; the Brazilian company said, adding that the move was also in line with its 2026-2030 business plan.<\/p>\n<p>&nbsp;<\/p>\n<p>Petrobras Chief Executive Officer Magda Chambriard told <em>Reuters<\/em> last year that the company aimed to make Africa its main region of development outside Brazil as it looks to boost reserves, citing countries such as Namibia, Angola and Nigeria.<\/p>\n<p>&nbsp;<\/p>\n<p>That marked a strategy shift under leftist President Luiz Inacio Lula da Silva. Under previous governments, Petrobras had divested assets in Africa as part of a plan to focus on high-productivity areas in Brazil&#8217;s pre-salt fields.<\/p>\n<p>&nbsp;<\/p>\n<p>As part of the Namibia deal, Petrobras said, Eight and Namcor Exploration and Production will hold 5% and 10% stakes in the block respectively while Maravilla Oil &amp; Gas is selling its stake.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8211;Reuters&#8211;<\/p>\n","protected":false},"featured_media":23400,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-23399","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Brazil's Petrobras has purchased a 42.5% stake in an oil exploration field off the coast of Namibia","published_date":"2026-02-06 14:09:23","news_description":"Brazil's Petrobras has purchased a 42.5% stake in an oil exploration field off the coast of Namibia","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/23399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/23399\/revisions"}],"predecessor-version":[{"id":26380,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/23399\/revisions\/26380"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/23400"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=23399"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=23399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}