Petrobras announced that its Board of Directors has approved the company's operations in South Africa, paving the way for the acquisition of a stake in the Deep Western Orange Basin (DWOB) block.

The DWOB block is located in deep waters of the Orange Basin, where significant discoveries have recently been made by TotalEnergies, Shell, and Galp. With this acquisition, Petrobras will hold a 10% stake in the DWOB block, resulting in the following consortium composition: TotalEnergies (operator) with 40%, QatarEnergy with 30%, Sezigyn Pty. with 20%, and Petrobras with 10%.

This operation aims to diversify Petrobras's exploratory portfolio while generating value and is aligned with the company's long-term strategy, which focuses on replenishing oil and gas reserves through exploration of new frontiers, both in Brazil and abroad, and through partnership initiatives.

The acquisition of the DWOB block in South Africa follows all internal governance procedures and is in line with its Strategic Plan 2024-2028+. However, the deal is subject to approval from local regulatory authorities.