Petrobras Expands Focus on Argentina while Advancing Columbia and Africa Projects
Petrobras is exploring opportunities in Argentina and advancing projects in Colombia and Africa. The company is particularly interested in gas from the Vaca Muerta region and oil prospects in Argentina. Additionally, it is developing a significant gas project in Colombia and plans to drill exploratory wells in Africa this year.
Petrobras, Brazil’s state-run oil company, is currently exploring opportunities in Argentina while also progressing with its projects in Colombia and Africa, as announced by Sylvia dos Anjos, the head of exploration and production at Petrobras. Anjos indicated that the company finds potential in gas from the Vaca Muerta region, aided by a pipeline that can connect Argentina to Bolivia and Brazil for gas transportation.
Additionally, Petrobras is considering oil opportunities in Argentina as part of its strategy to replenish dwindling oil reserves overseas. This comes amid challenges the company faces in acquiring environmental licenses for drilling within Brazil.
In Colombia, Petrobras is developing an offshore project where substantial natural gas reserves of approximately 6 trillion cubic feet have been located. Anjos stated that the project would supply Colombia with around 13 million cubic meters of gas per day through a pipeline, pending government licensing.
Moreover, in Africa, Petrobras plans to drill exploratory wells in Sao Tome and Principe between July and August. Anjos also mentioned that drilling in another area in South Africa is anticipated during the latter half of the year.
In summary, Petrobras is actively pursuing new opportunities in Argentina while progressing its projects in Colombia and Africa. The exploration of gas and oil resources illustrates Petrobras’s commitment to expanding its international presence to address domestic production challenges. Continued advancements in their offshore projects and exploratory efforts abroad will be crucial for the company’s growth.
Original Source: www.tradingview.com
