Exclusive: Petrobras aims to make Africa its main exploratory region outside Brazil
RIO DE JANEIRO, June 5 (Reuters) - Petrobras (PETR4.SA), opens new tab aims to make Africa its main region of development outside Brazil, the state-run oil firm's CEO said on Thursday, adding that Ivory Coast has extended the "red carpet" for them to explore in deep and ultra-deep waters off its coast.
The firm also seeks to explore India's coast, taking part in an upcoming oil block auction scheduled for July, CEO Magda Chambriard told Reuters.
In recent years, Petrobras has shown an interest in buying stakes in oil assets abroad, especially in Africa, as it looks to boost reserves while it faces delays in obtaining environmental permits to drill for new oil in Brazil.
"We are experts in the eastern margin of Brazil," said Chambriard, citing geological similarities between the region and Africa. "The correlation between Brazil and Africa is unequivocal, so we need to go to Africa."
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