Petrobras signs PSCs for eight offshore Côte d’Ivoire blocks, returning to West African exploration
Published in Brief No. 2 ·
Reviewed by Georges C. Nama, Esq., licensed by the Supreme Court of Texas.
Offshore magazine and SPE’s Journal of Petroleum Technology report that Petrobras, through its subsidiary Petrobras Netherlands, signed production-sharing contracts with state holding company PETROCI for eight exploration blocks (CI-513, CI-600, CI-601, CI-602, CI-603, CI-605, CI-701 and CI-702), holding a 90% operated interest to PETROCI’s 10%. The signing was reported around 18 September 2026 and carried in SPE’s 1 October 2026 roundup. It marks a large new entrant into Côte d’Ivoire’s acreage.
A major Latin American national oil company taking a 90% operated position across eight blocks signals intensifying competition for Gulf of Guinea acreage and sets a reference 90/10 state-participation split against which U.S. operators and their counsel may be benchmarked when negotiating PETROCI contracts. The scale of the commitment is a marker for lenders and investors tracking West African exploration exposure.
What it means for U.S. companies
For U.S. operators and their counsel, a major national oil company taking a 90% operated interest across eight blocks sets a visible reference point for state-participation splits when negotiating production-sharing contracts with PETROCI, Côte d’Ivoire’s state holding company. The reported 90/10 division is one data point against which U.S. bidders may be benchmarked on work commitments and fiscal terms. The scale of the entry also signals intensifying competition for Gulf of Guinea acreage, which lenders and investors tracking West African exploration exposure should weigh when valuing positions and timing their own bids.
Related reading
Our oil, gas and energy practice page explains how we draft and review joint operating agreements, farmouts, drilling and gas sales contracts, and host government agreements for U.S. companies and investors. Our Africa–U.S. transactions page covers deal structuring, due diligence and cross-border compliance, including the U.S. Foreign Corrupt Practices Act. For deals in OHADA member states, our OHADA and francophone Africa page covers company formation, contracts, security and arbitration under the OHADA Uniform Acts. Before you sign, read 5 Mistakes That Sink Africa–U.S. Deals (and How to Avoid Them), and find every item of this week’s report in the Energy Intelligence Brief.
Sources: Offshore magazine ↗ · Journal of Petroleum Technology (SPE) ↗
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