Brazil?s state-run oil company Petrobras logo is pictured at its building in Rio de Janeiro, Brazil July 17, 2023. REUTERS/Ricardo Moraes/File Photo Purchase Licensing Rights
Brazil's Petrobras (PETR4.SA), opens new tab is expected to seek the entire 40% stake of Namibia's Mopane oil and gas exploration block put up for sale by Portugal's Galp, a director at the state-run oil firm said on Monday.
To operate the oil field, Petrobras would need the full 40% stake, said Exploration and Production Director Sylvia dos Anjos on the sidelines of the ROG.e oil and gas event in Rio de Janeiro.
"Operating with less than 40% is very bad... (Galp) offered the operation, and no one operates with less than 40%," Anjos told journalists.
In July, the executive told Reuters that Petrobras had made a non-binding offer in the bidding process opened by the Portuguese company that would make it the operator of the field.
But so far there has been "no progress" in the process, she said on Monday.
"We know Brazil very well, we also know Africa very well. So, naturally, if we go somewhere abroad, Africa is a good place," she said.
