Petrobras Explores Opportunities in Argentina While Advancing Projects Abroad
Petrobras is exploring opportunities in Argentina while advancing projects in Colombia and Africa. The company is interested in gas from Vaca Muerta and oil reserves in Argentina. In Colombia, they are developing a gas project awaiting a government license. Exploratory drilling is also planned in Africa.
Petrobras, the Brazilian state-run oil company, is exploring potential opportunities in Argentina while concurrently advancing in projects in Colombia and Africa, as stated by its head of exploration and production, Sylvia dos Anjos. During the CERAWeek conference in Houston, she noted that gas from Argentina’s Vaca Muerta region would be appealing to Petrobras, particularly with an existing pipeline that could facilitate transportation between Argentina, Bolivia, and Brazil.
Anjos indicated that Petrobras is also considering oil opportunities in Argentina, motivated by the need to replenish its oil reserves amid challenges in securing environmental licenses for drilling in Brazil. In Colombia, Petrobras is in the process of drafting a development plan for an offshore project where significant gas reserves of approximately 6 trillion cubic feet have been discovered, pending a necessary government license. This project is expected to supply Colombia with around 13 million cubic meters of gas daily via pipeline.
In Africa, Petrobras anticipates drilling exploratory wells in Sao Tome and Principe’s oil block by July or August. Additionally, drilling is expected to commence in the second half of the year in another area located in South Africa, as informed by the company’s executive.
In summary, Petrobras is strategically pursuing growth opportunities in Argentina while making advancements in projects in Colombia and Africa. The company aims to enhance its oil reserves amidst regulatory challenges in Brazil, exploring significant gas finds in Colombia and planning exploratory drilling in Africa. These ventures highlight Petrobras’ commitment to expanding its international presence and resource portfolio.
Original Source: www.tradingview.com
