TotalEnergies says its interested in partnering with Petrobras on projects outside of Brazil, including Namibia, Suriname, and Angola, as the French supermajor expands its presence in Latin America’s most populous nation, Chief Executive Officer Patrick Pouyanne said.
TotalEnergies’ interest in partnering with Petrobras abroad underscores a renewed appetite for high-risk, offshore exploration, especially as the energy transition is progressing more slowly than anticipated a few years ago.
“Petrobras is ready to explore abroad, particularly in the Atlantic basin, and I’m keeping that in mind,” Pouyanne said.
“If opportunities arise in the countries where we are exploring, we could offer Petrobras the chance to participate.”
In addition to offshore oil, TotalEnergies has significant investments in wind energy in Brazil and sees greater potential in onshore wind, with offshore wind developments potentially being postponed for a few more years.
This comes as Brazil’s state-run oil firm Petrobras has made a non-binding offer to acquire a major stake in Galp Energia’s massive offshore oil discovery in Namibia.
However, Exploration and Production Director Sylvia dos Anjos said Petrobras would need to acquire the full 40% stake.
More than 12 competitors, including Exxon and Shell, have shown interest in purchasing a 40% stake in Galp Energia’s oil field.
Namibia, which currently lacks oil and gas production, has drawn considerable attention from international energy companies in recent years, following a series of discoveries by TotalEnergies, Shell, and Galp.
