(Ecofin Agency) - • Petrobras signs two new cooperation agreements with Angola’s Sonangol and oil regulator ANPG as part of its return to African oil and gas.
• The agreements cover joint studies and research in oil and gas, without immediate financial commitments.
• This marks Brazil’s renewed energy partnership with Angola and a broader Petrobras strategy to re-enter African markets.

Brazil’s state-owned oil company Petrobras is making a strong move to return to Angola’s oil and gas sector, years after pulling back from international operations. Angola is Africa’s second-largest crude oil producer after Nigeria, and the country is now back on Petrobras’ radar.

The Brazilian firm signed two memorandums of understanding (MoUs) as part of its renewed focus on global partnerships. The first was signed with Angola’s national oil company, Sonangol, during President João Lourenço’s state visit to Brazil. The second MoU had already been signed earlier in March with Angola’s national oil and gas regulator, ANPG.

The agreement with ANPG opens the door for Petrobras to carry out joint studies to identify new oil exploration zones off the Angolan coast. The deal with Sonangol focuses more on boosting cooperation in research and development within the oil and gas sectors.

These agreements don’t require any immediate financial commitment from Petrobras. Instead, they provide the company with access to Angola’s regulatory and technical systems, creating space for future exploration and investment. This cautious approach allows the company to lay the groundwork for future projects, especially in deepwater drilling, an area where both Brazil and Angola have strong experience due to their similar offshore geological structures.

The renewed push into Angola is part of a broader Petrobras strategy to re-engage with Africa. The company recently expressed interest in returning to Nigeria and has started discussions with Nigerian officials. It also bought a 10% stake in the Deep Western Orange Basin off South Africa’s coast. Additionally, it holds 45% stakes in blocks 10 and 13, and a 25% stake in block 11, in the waters off São Tomé and Príncipe. Petrobras is also eyeing potential operations in Namibia’s offshore region.

Brazilian President Luiz Inácio Lula da Silva hailed the signing of the MoUs during the Angolan leader’s visit, calling it the “official return of Petrobras to Angola.” The move underscores growing cooperation between Brazil and Angola and supports the shared goal of boosting bilateral trade and energy collaboration.