Brazilian state oil company Petrobras is expanding its exploration activities in Africa, with Ghana becoming its latest target. The company said on Aug. 21, 2026 that it had begun negotiations for four offshore exploration blocks in Ghana’s Keta Basin after receiving approval from the country’s Ministry of Energy and Green Transition.
Petrobras’ head of exploration and production, Sylvia Anjos, said the Ghanaian blocks are geologically similar to Brazil’s Equatorial Margin, one of the country’s most promising oil frontiers. The company is seeking new exploration opportunities as part of a strategy to replenish its oil and gas reserves and diversify its international portfolio.
Ghana is not the only African market under consideration. Petrobras has been pursuing opportunities in São Tomé and Príncipe, Namibia, Côte d’Ivoire and South Africa, with Africa identified by CEO Magda Chambriard as the company’s main exploration region outside Brazil.
São Tomé and Príncipe has already become an important part of that strategy. Petrobras holds interests in several offshore blocks and in July completed the acquisition of a 75% stake and operatorship of Block 3, strengthening its position in the country's emerging offshore sector.
The expansion comes as African oil and gas producers seek to attract a broader range of international partners. Alongside established investors from the United States, China, Europe and Russia, companies from other emerging economies are increasingly entering African energy markets, giving governments more options for developing offshore resources and attracting investment and technology.
For Petrobras, Africa offers new exploration frontiers beyond Brazil. For African producers, the growing presence of Brazilian energy companies adds another potential partner as they seek to diversify their international economic relationships.
