Reposition Sourcing for Rising West Africa Offshore Activity

Since the country’s Ministry of Energy and Green Transition has approved the application for the negotiation of exploration contracts in four blocks, the company is entering the phase of direct talks to iron out the terms of these exploration contracts. As Petrobras is keen on boosting its oil and gas reserves through the exploration of new frontiers, both in Brazil and abroad, the assessment of new opportunities seeks to diversify the company’s exploration portfolio

Since the country’s Ministry of Energy and Green Transition has approved the application for the negotiation of exploration contracts in four blocks, the company is entering the phase of direct talks to iron out the terms of these exploration contracts

Home Fossil Energy Petrobras targets West Africa offshore frontier with four-block talks in Ghana August 21, 2026, by Brazilian state-owned energy giant Petrobras is advancing its push into West Africa’s offshore oil and gas frontier, entering negotiations for exploration contracts covering four blocks in Ghana’s Keta Basin as the Brazilian major seeks to replenish reserves and expand its international exploration portfolio. Illustration; Source: Petrobras Petrobras has submitted an expression of interest in ex

Given the geographic and technical setting of PEL 37 relative to PEL 82, the outcomes of future drilling on PEL 82 could have significant ‘read through’ implications for PEL 37

Sintana’s investment in Maravilla provides the firm with an indirect 35% interest in PEL 37

The license is perceived to benefit from an extensive technical database already in place, including 2,813 square kilometers (2014) of 3D seismic data, around 1,000 line kilometers of 2D seismic data (2014), and historical drilling activity (Cormorant-1 (2018), Sasoil (1995)

Julien Balkany, Executive Chairman of Panoro, commented: “This high-quality acquisition represents a continuation of Panoro’s strongly accretive growth strategy and follows the transformational acquisition of an additional interest in Block G offshore Equatorial Guinea from Kosmos Energy which we announced in February and completed in June 2026

This is a new country entry for Panoro, which describes Côte d’Ivoire as an investor-friendly jurisdiction in West Africa with a thriving oil and gas industry that offers attractive follow-on growth opportunities

09% interest in the high-quality gas-producing offshore Block CI-27

The slight reduction in the share of mid-length lateral wells in the past five years came amid the emergence of super-laterals; ultra-long wells exceeding 15,000 feet. Virtually nonexistent before 2020, these wells, more than three miles long, accounted for 15% of all new Permian well completions in 2025

Longer lateral wells allow operators to contact significantly more reservoir rock with each well, maximizing production while keeping well counts, and therefore overhead costs, down

Outside of the unprecedented market disruptions in 2020 and 2021—when negative oil prices and uncertainty surrounding the COVID pandemic severely curtailed activity—new horizontal well completions in the Permian have consistently hovered around 6,000 per year since 2022. Meanwhile, the average lateral length of a new horizontal Permian well increased 77% in the last decade, rising from 6,149 feet in 2015 to 10,867 feet in 2025, based on data from Enverus