Petrobras Signs Ivory Coast Offshore Deals
Brazilian energy giant Petrobras has signed production-sharing contracts for eight offshore exploratory blocks in the Ivory Coast. The state-run company holds a ninety percent operating stake in each block to expand its reserves.
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Petrobras secured a 90% operating stake in eight offshore exploratory blocks in Ivory Coast, partnering with state energy firm Petroci on Thursday afternoon. The production-sharing contracts give the Brazil-based oil major a dominant position in the African exploratory area. The agreement expands the company's footprint in international frontier basins.
