On 17 September 2026, Petrobras signed eight production-sharing contracts in Abidjan, Côte d'Ivoire, expanding its presence in Africa's Atlantic margin. The Brazilian major secured a 90% operated interest in each block, with state-owned PETROCI Holding retaining a 10% stake. The blocks are located offshore in Côte d'Ivoire's western sedimentary basin, an area with ongoing exploration potential assessment.
The eight blocks - CI-513, CI-600, CI-601, CI-602, CI-603, CI-605, CI-701, and CI-702 - deepen Petrobras' African push. The company will operate each block through its wholly owned subsidiary, Petrobras Netherlands B.V. This deal follows a period of exclusive negotiation that began in 2025, during which Petrobras initially held exclusivity over nine offshore blocks.
One block did not progress to contract, but the final signed portfolio covers eight blocks. According to a senior energy analyst, Petrobras has turned a negotiating option into operated acreage, a material event for the market. For Côte d'Ivoire, the deal brings a proven deep-water operator into additional licensed acreage.
PETROCI Holding gains participation rights without funding exploration risk through a standard and efficient farm-in structure for frontier basins. However, these remain exploration commitments, with no production project existing yet. Investors will watch seismic acquisition schedules, well location decisions, and any resource estimate that emerges from early technical work.
Petrobras brings deep-water technical expertise drawn from its Brazilian pre-salt programme, a direct advantage in frontier settings. The company's Brazilian offshore experience transfers directly to comparable geological settings on the African side of the South Atlantic. Côte d'Ivoire adds operated acreage to Petrobras' growing African Atlantic portfolio.
The Brazil–Africa energy corridor has attracted growing interest from institutional investors and development finance groups. Petrobras's move reinforces that dynamic and signals confidence in Côte d'Ivoire's regulatory framework for upstream investment. The contracts add eight frontier positions to Petrobras's operated global portfolio, spreading geological risk across a single underexplored basin.
Each block is a discrete exploration bet, and the next market signal will come from seismic results and the timing of any exploration well commitments across the eight blocks. With this deal, Petrobras has expanded its presence in Côte d'Ivoire, and investors will be monitoring the company's progress in the region.
Key points
- Petrobras signed production-sharing contracts for eight offshore blocks in Côte d'Ivoire's western sedimentary basin on 17 September 2026.
- Petrobras holds a 90% operated interest in each block, with PETROCI Holding retaining a 10% stake.
- The deal brings a proven deep-water operator into additional licensed acreage in Côte d'Ivoire.
