QatarEnergy has secured stakes in seven exploration blocks off Brazil’s northeastern coast, specifically in the Ceará Basin. As part of this deal, QatarEnergy will own 30% of each block while Petrobras will retain the remaining interest. The concession contracts allowing for the sharing of discovered resources, which include royalties and taxes, are anticipated to be finalized in the first half of 2027.
This move is part of Qatar’s broader strategy to enhance its international energy portfolio, particularly as its domestic exports have declined due to the ongoing Iran war. Over the past year, QatarEnergy has also expanded into Uruguay and Angola, and has participated in a discovery in the Republic of Congo.
