Petrobras signs production-sharing deals for Ivory Coast exploratory blocks
Petrobras signs production-sharing deals for Ivory Coast exploratory blocks SAO PAULO, Sept 17 (Reuters) - Brazilian state-run oil company Petrobras PETR3.SA said on Thursday it had signed production-sharing contracts with Ivory Coast and its state energy firm Petroci for eight offshore exploratory blocks.
The deal gives Petrobras a 90% operating stake in each block, with Petroci retaining the remaining 10%.
The contracts are described as securing access to exploratory areas of "high potential" on Africa's equatorial margin.
The move is aligned with Petrobras' strategy to replenish reserves through new frontier exploration in Brazil and abroad.
Petrobras CEO Magda Chambriard told Reuters last year that the oil major plans to make Africa its main exploratory region outside of Brazil.
(Reporting by Gabriel Araujo
Editing by Tomasz Janowski)
((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))
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