Johannesburg, South Africa — Brazil’s state oil company, Petrobras, is in advanced negotiations with Ghana over four offshore exploration blocks in the Keta Basin, a strategic move to bolster its global exploration portfolio as domestic production wanes.
The discussions follow a significant decline in Ghana’s crude production, which dipped to 37. 3 million barrels in 2025, marking its lowest annual output in several years. This downturn has prompted Ghana to seek fresh exploration opportunities, particularly in underexplored areas like the Keta Basin.
Petrobras’s interest in the Keta Basin is part of its broader strategy to expand its African operations and counteract the domestic production challenges it faces.
The company has been actively seeking new frontiers for exploration, having recently acquired a stake in an offshore exploration block in Namibia and examining opportunities in Côte d’Ivoire and South Africa.
The terms and conditions of the exploration contracts being negotiated between Petrobras and Ghana are yet to be disclosed.
The success of these negotiations will depend on the agreements reached on fiscal terms, operational strategies, and local participation. While the potential for geological success in the Keta Basin is promising, it also raises environmental concerns. Local communities and critics have expressed worries about the environmental impact of drilling activities in the region, particularly given Petrobras’s recent history in Brazil.
The outcome of these negotiations could have significant implications for both the oil and gas industry in Africa and the environmental sustainability of the region.
As Petrobras moves forward with its African expansion, it will be crucial to monitor its environmental impact assessments and the specific terms of the exploration contracts. For Ghana, the negotiations represent a potential turning point in its efforts to reverse the decline in crude production and attract investment to its oil and gas sector.
As the negotiations progress, the focus will be on the environmental impact assessments and the terms of the exploration contracts, which will shape the future of the Keta Basin’s exploration and the broader oil and gas industry in Africa.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: Africa.businessinsider
Source: Ayodeji Adegboyega
