Petrobras Pursues Ventures in Argentina, Advances Projects in Colombia and Africa

Petrobras is actively pursuing opportunities in Argentina, focusing on gas and oil reserves while advancing offshore projects in Colombia and gearing up for exploratory drilling in Africa.

Petrobras, the Brazilian state-operated oil company, is exploring potential ventures in Argentina while also progressing with initiatives in Colombia and Africa, as stated by the head of exploration and production, Sylvia dos Anjos. At the recent CERAWeek conference in Houston, Anjos highlighted the potential of gas from Argentina’s Vaca Muerta region, which could be transported through a connected pipeline system involving Argentina, Bolivia, and Brazil.

She further indicated that Petrobras is investigating oil opportunities within Argentina, a move driven by the company’s ongoing efforts to replenish its oil reserves through international projects, as challenges arise in securing environmental drilling licenses in Brazil.

In Colombia, Petrobras is in the process of drafting a development plan for an offshore project that has discovered an estimated 6 trillion cubic feet of gas, pending a government license. This project is projected to supply approximately 13 million cubic meters of gas per day to Colombia via pipeline.

On the African continent, Petrobras anticipates commencing exploratory drilling in July and August for an oil block in which it holds interests in Sao Tome and Principe. Additionally, plans for drilling in another area located in South Africa are expected to take place in the latter half of the year, according to the executive’s statement.

In summary, Petrobras is actively seeking new opportunities in Argentina, particularly in gas and oil, while advancing its offshore project in Colombia. Moreover, the company is preparing for exploratory drilling in Africa, reinforcing its commitment to international growth amidst domestic regulatory challenges.

Original Source: www.tradingview.com