By Brazil Stock Guide – Petróleo Brasileiro S.A. – Petrobras (B3: PETR4; NYSE: PBR) has acquired a 27.5% stake in Block 4, offshore São Tomé and Príncipe. The deal supports the company’s long-term plan to diversify its portfolio and rebuild oil and gas reserves by opening new frontiers.
The Block 4 consortium is operated by Shell with a 30% interest, alongside Galp (27.5%) and state-owned ANP-STP (15%). Petrobras has been active in the African nation since February 2024, when it acquired 45% stakes in Blocks 10 and 13 and a 25% interest in Block 11.
“This move expands Petrobras’s exploratory presence in Africa and is aligned with the 2025–2029 Strategic Plan,” the company said in a statement.
Diversification and new frontiers
The entry into Block 4 underscores Petrobras’s ambition to grow its international presence in frontier exploration assets through partnerships with global players. Africa is regaining relevance on the company’s map after years of near-exclusive focus on Brazil’s pre-salt fields.
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