Nigeria is in discussions with Brazil’s state-run oil firm Petrobras to revive deep water oil exploration projects, officials confirmed.
Foreign Minister Yusuf Tuggar said Petrobras is eager to return to Nigerian waters, years after selling its stakes to fund domestic ventures.
“Petrobras is no longer active in Nigeria, but they are very keen on coming back,” Tuggar stated via the vice president’s office.
The renewed interest focuses on frontier acreage in Nigeria’s deep offshore zones, once a key area of Petrobras’ African operations.
Petrobras first entered Nigeria in 1998, tapping into the oil-rich depths off the Niger Delta before exiting over a decade ago.
In February, Petrobras disclosed talks with ExxonMobil, Shell, and TotalEnergies to potentially acquire stakes in African energy assets.
Nigeria plans to leverage global platforms such as the BRICS Summit, G20, and COP30—hosted this year by Brazil—to attract investment.
The government aims to deepen bilateral ties with Brazil, with energy, health, agriculture, and culture identified as key areas of cooperation.
Officials view Petrobras’ return as a potential boost to Nigeria’s oil sector, which is crucial to the country’s economic recovery strategy.
