Petrobras looks to acquire “significant” stake in Galp Energia's massive Mopane oil and gas discovery offshore Namibia
(WO) – Petrobras has made an offer to acquire a significant stake in Galp Energia's highly-anticipated oil and gas discovery offshore Namibia, according to Reuters. If successful, Petrobras would become the operator of the Mopane oil and gas field, which holds an estimated 10 Bboe.
Over 12 competitors, including Exxon and Shell, have shown interest in acquiring a 40% stake in Galp Energia's massive offshore oil and gas field. A spokesperson from the company emphasized Petrobras' expertise in deepwater operations and expressed confidence in their bid.
Petrobras is looking for international opportunities due to challenges in obtaining environmental licenses for new exploration in Brazil. Indigenous groups, environmental regulators, and labor disputes at Brazil's environmental agency, Ibama, have hindered Petrobras' efforts to explore offshore areas, particularly near the Amazon River.
