Lagos — Yusuf Tuggar, Nigeria’s foreign minister, said that the country is in talks with Petrobras about exploring its deep-water oil acreage, after years of the Brazilian oil giant leaving the nation.
Petrobras has ceased operations in Nigeria but is keen to return. “They said they wanted frontier acreage on deep water,” Tuggar, a vice president’s statement quoted as saying.
Brazil will host both the BRICS Summit and the COP30 meeting this year, after hosting the G20 last year.
Nigeria will promote investment during these summits, as it seeks to strengthen ties with Brazil, particularly in the areas of energy, culture, health and agriculture.
In February, the Brazilian state energy company said it was in discussions with existing partners ExxonMobil, Shell and TotalEnergies to purchase a portion of their African assets.
Petrobras started operations in Nigeria in deep waters near the coast of Niger Delta in 1998. It sold its stakes over 10 years ago in order to raise money for domestic projects.
*Chijioke Ahuocha, edited: Cynthia Osterman – Reuters
