Petrobras (NYSE: PBR) takes 75% stake in São Tomé Block 3

Rhea-AI Filing Summary

Petróleo Brasileiro S.A. – Petrobras signed an agreement to acquire a 75% interest and assume operatorship of offshore Block 3 in São Tomé and Príncipe, Africa, from Oranto Petroleum Limited. After completion, the consortium will comprise Petrobras with 75%, Oranto with 15%, and ANP-STP with 10%.

The move reinforces Petrobras’ exploration activities in Africa, supports portfolio diversification, and aligns with its 2026-2030 business plan to replenish oil and gas reserves through new frontiers and partnerships. Closing remains subject to precedent conditions, including governmental and regulatory approvals in São Tomé and Príncipe.

Key Figures

Petrobras interest in Block 3 after deal: 75% interest Oranto interest in Block 3 after deal: 15% interest ANP-STP interest in Block 3: 10% interest +3 more

6 metrics

Petrobras interest in Block 3 after deal 75% interest Operatorship of offshore Block 3 in São Tomé and Príncipe

Oranto interest in Block 3 after deal 15% interest Remaining consortium share once Petrobras becomes operator

ANP-STP interest in Block 3 10% interest National Petroleum Agency of São Tomé and Príncipe stake

Oranto current Block 3 interest 90% interest Pre-transaction operatorship and ownership in Block 3

Petrobras business plan horizon 2026-2030 Business Plan period guiding portfolio and exploration strategy

Month of Form 6-K reporting April 2026 Period covered by the foreign private issuer report

Key Terms

operatorship, consortium, portfolio diversification, Business Plan 2026-2030, +2 more

6 terms

operatorship financial

"acquire an interest and assume operatorship of Block 3, offshore"

Operatorship is the formal role and responsibility held by the party that runs day-to-day operations of a joint project or asset, including making operational decisions, managing contractors, handling regulatory compliance, and preparing reports for partners. Investors care because the operator’s competence, cost control, safety record and decision-making directly affect project performance, timelines, and financial outcomes—like the driver of a team vehicle whose skill and choices determine travel speed and safety.

consortium financial

"the consortium will be composed of Petrobras (operator, 75%), Oranto (15%), and ANP-STP (10%)"

A consortium is a temporary partnership where two or more companies, investors, or institutions pool money, skills, or assets to pursue a specific project, bid, or investment. For investors, a consortium matters because it spreads financial risk, combines expertise that can improve the chances of success, and can change who controls or benefits from a deal—similar to several people pooling cash to buy a property they couldn’t afford alone.

portfolio diversification financial

"with the purpose of portfolio diversification, and is aligned with the company’s long-term strategy"

Portfolio diversification is the practice of spreading an investor’s money across different kinds of investments—such as stocks, bonds, cash, sectors, or regions—so that poor performance in one area is partly offset by better performance in others. It matters because like not putting all your eggs in one basket, diversification reduces the chance that a single bad outcome will wipe out your savings and helps smooth returns over time.

Business Plan 2026-2030 financial

"is in line with its Business Plan 2026-2030"

precedent conditions regulatory

"subject to the fulfillment of precedent conditions, including applicable governmental and regulatory approvals"

regulatory approvals regulatory

"including applicable governmental and regulatory approvals in São Tomé and Príncipe"

Regulatory approvals are official permissions from government agencies that a company needs before launching a new product, service, or business activity. They matter because without this approval, the company might not be allowed to operate legally or sell its products, similar to how a driver needs a license to legally drive a car.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 6-K: How Foreign Companies Report to the SEC →

Accepted by SEC EDGAR 04/17/2026 - 07:50 AM Learn about SEC filing dates

FAQ

What did Petrobras (PBR) announce regarding Block 3 in São Tomé and Príncipe?

Petrobras announced an agreement to acquire a 75% interest and operatorship of offshore Block 3 in São Tomé and Príncipe from Oranto Petroleum. The deal expands its exploration footprint in Africa and supports long-term reserve replenishment goals through new frontiers and partnership-based operations.

How will the Block 3 consortium change after Petrobras (PBR) joins?

Following completion, the Block 3 consortium will consist of Petrobras as operator with 75%, Oranto Petroleum with 15%, and São Tomé’s ANP-STP with 10%. This replaces the current structure where Oranto holds 90% and ANP-STP 10%, shifting operational control to Petrobras.

How does the Block 3 acquisition fit Petrobras (PBR) strategy?

The acquisition aligns with Petrobras’ 2026-2030 business plan and long-term strategy to diversify its portfolio and replenish oil and gas reserves. It builds on Petrobras’ resumed African activities since 2024 and targets exploration in new geological frontiers through consortium partnerships.

What approvals are required before Petrobras (PBR) closes the Block 3 deal?

Completion of the Block 3 transaction is subject to precedent conditions, including governmental and regulatory approvals in São Tomé and Príncipe. These approvals must be obtained before the ownership changes and Petrobras formally assumes operatorship of the offshore exploration block.

Why is Petrobras (PBR) expanding exploration in São Tomé and Príncipe?

Petrobras is expanding in São Tomé and Príncipe to strengthen exploratory activities on the African continent and diversify its asset portfolio. The company aims to replenish oil and gas reserves by exploring new frontiers and participating in partnership operations consistent with its long-term business plan.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the

Securities Exchange Act of 1934

For the month of April, 2026

Commission File Number 1-15106

PETRÓLEO BRASILEIRO S.A. – PETROBRAS

(Exact name of registrant as specified in its charter)

Brazilian Petroleum Corporation – PETROBRAS

(Translation of Registrant's name into English)

Avenida Henrique Valadares, 28 – 9th floor 
20231-030 – Rio de Janeiro, RJ
Federative Republic of Brazil

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. 

Form 20-F ___X___ Form 40-F _______

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes _______ No___X____

www.petrobras.com.br/ir For more information: PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations Email: petroinvest@petrobras.com.br/acionistas@petrobras.com.br Av. Henrique Valadares, 28 – 9th floor – 20231-030 – Rio de Janeiro, RJ. Tel.: 55 (21) 3224-1510/9947 This document may contain forecasts within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Trading Act of 1934, as amended (Trading Act) that reflect the expectations of the Company's officers. The terms: "anticipates", "believes", "expects", "predicts", "intends", "plans", "projects", "aims", "should," and similar terms, aim to identify such forecasts, which evidently involve risks or uncertainties, predicted or not by the Company. Therefore, future results of the Company's operations may differ from current expectations, and the reader should not rely solely on the information included herein. PÚBLICA Participation in a new exploration block in São Tomé and Príncipe — Rio de Janeiro, April 17, 2026 – Petróleo Brasileiro S.A. – Petrobras announces that it has signed an agreement to acquire an interest and assume operatorship of Block 3, offshore São Tomé and Príncipe, Africa, from Oranto Petroleum Limited (Oranto). The current consortium is composed of Oranto, the current operator with a 90% interest, and the National Petroleum Agency of São Tomé and Príncipe (ANP-STP), with 10%. Petrobras is acquiring a 75% interest and, upon completion of the transaction, the consortium will be composed of Petrobras (operator, 75%), Oranto (15%), and ANP-STP (10%). Since 2024, Petrobras has resumed its activities on the African continent and already holds interests in blocks in São Tomé and Príncipe. This transaction strengthens exploratory activities on the African continent, with the purpose of portfolio diversification, and is aligned with the company’s long-term strategy, aiming to replenish oil and gas reserves through exploration of new frontiers and partnership operations. The acquisition of the block in São Tomé and Príncipe followed the company’s internal governance procedures and is in line with its Business Plan 2026-2030. The completion of the transaction is subject to the fulfillment of precedent conditions, including applicable governmental and regulatory approvals in São Tomé and Príncipe. Any material developments will be promptly disclosed to the market. Figure 1 – Location of Block 3, offshore – São Tomé and Príncipe

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: April 17, 2026

PETRÓLEO BRASILEIRO S.A–PETROBRAS

By: /s/ Fernando Sabbi Melgarejo

______________________________

Fernando Sabbi Melgarejo

Chief Financial Officer and Investor Relations Officer