Multi-millionaire Arthur Eze's Oranto sells 75% stake in São Tomé Block 3 to Brazil's Petrobras
Brazil’s state-owned oil giant Petrobras is expanding its footprint in West Africa, acquiring a 75% operating stake in Block 3 offshore São Tomé and Príncipe from Arthur Eze’s Oranto Petroleum.
Black News 
Brazil’s state-owned oil giant Petrobras is expanding its footprint in West Africa, acquiring a 75% operating stake in Block 3 offshore São Tomé and Príncipe from Arthur Eze’s Oranto Petroleum.
- Petrobras is acquiring a 75% operating stake in Block 3 offshore São Tomé and Príncipe from Oranto Petroleum.
- The agreement will make Petrobras the operator, with Oranto holding 15% and the national agency retaining 10%, pending regulatory approval.
- This move aligns with Petrobras’ 2026–2030 strategy to diversify its assets and replenish reserves via frontier exploration.
- Petrobras has recently returned to Africa and is building a portfolio in regions geologically similar to Brazil’s pre-salt basins.
Brazil’s state-owned oil giant Petrobras is expanding its footprint in West Africa, acquiring a 75% operating stake in Block 3 offshore São Tomé and Príncipe from Arthur Eze’s Oranto Petroleum.
The agreement, announced on April 17, will see Petrobras take over operatorship of the block from Oranto, which currently holds a 90% stake. The National Petroleum Agency of São Tomé and Príncipe retains its 10% interest. Once completed, Petrobras will hold 75%, Oranto 15%, and ANP-STP 10%, subject to regulatory approvals, Billionaires Africa reported.
The deal aligns with Petrobras’ 2026–2030 strategy to diversify its portfolio and replenish reserves through frontier exploration. It also marks another step in the company’s renewed push into Africa after scaling back international operations in the early 2010s following the Operation Car Wash fallout.
Since returning to the continent in 2024, Petrobras has built a growing portfolio across the Gulf of Guinea and southern Africa, including stakes in multiple offshore blocks in São Tomé and Príncipe, Namibia, and South Africa. The region is attractive due to geological similarities with Brazil’s pre-salt basins, which have driven its domestic oil boom.
West Africa’s deepwater basins attract new bets
Petrobras has earmarked about $1.3 billion for international exploration over five years. With proven reserves at 11.4 billion barrels of oil equivalent and production at roughly 3 million barrels per day, the company is seeking discoveries to offset expected declines from ageing fields after 2030.
For Oranto, the transaction reflects a familiar strategy. Founded by Arthur Eze, the company has built a pan-African exploration portfolio by securing early-stage licences and partnering with larger operators to develop them.
Meanwhile, Business Insider Africa previously reported that Oranto Petroleum has faced growing challenges across key jurisdictions, particularly in Senegal and Equatorial Guinea, as governments and operators tighten oversight of oil licences and strategic projects.
In Senegal, authorities revoked one of the company’s offshore exploration licences after citing failure to meet financial guarantees and limited exploration activity over several years.
In Equatorial Guinea, an affiliate of Atlas Oranto lost its stake in a key offshore block following a dispute with operator Chevron over funding obligations, underscoring the risks faced by minority partners in capital-intensive projects.
