Brazil’s state-owned oil company Petrobras has begun negotiations with Ghana over four offshore exploration blocks in the Keta Basin, expanding its search for new oil and gas reserves beyond Brazil.

Ghana’s Ministry of Energy and Green Transition has approved Petrobras’ application to negotiate exploration contracts for the four blocks, allowing the company to enter direct discussions with the Ghanaian authorities.

The move is part of Petrobras’ strategy to replenish its oil and gas reserves by exploring new frontier areas both in Brazil and overseas. The company is seeking to diversify its exploration portfolio and secure opportunities that could support long-term production.

Sylvia Anjos, Petrobras’ head of exploration and production, told Reuters that the geology of the Keta Basin shares similarities with Brazil’s Equatorial Margin, one of the country’s most closely watched oil exploration frontiers.

The Ghana talks also mark another step in Petrobras’ growing interest in Africa. The company has indicated that the continent could become its main exploration region outside Brazil, with opportunities being assessed in countries including São Tomé and Príncipe, Namibia, Côte d’Ivoire and South Africa.

For Ghana, the potential involvement of Petrobras comes as the country seeks to attract fresh investment into offshore exploration and reverse declining oil production. Ghana produced about 37.3 million barrels of crude in 2025, according to figures cited by Business Insider Africa.

However, the agreement is still at an early stage. The approval to negotiate does not mean that Petrobras has acquired the blocks or committed to a specific investment. No investment amount, drilling timetable or exploration programme has been announced.

The next stage will be negotiations over the terms of the exploration contracts. If an agreement is eventually reached, Petrobras would then have to move through the necessary regulatory and technical stages before any drilling could begin.

The development nevertheless highlights Ghana’s position as an increasingly important destination for international oil companies and Petrobras’ broader push to identify new offshore resources in Africa.