Brazil’s Petrobras has secured approval from Ibama, the national environmental agency, for offshore oil exploration in the Equatorial Margin.
Specifically, they can now survey the Potiguar Basin in the country’s northeast. Alexandre Silveira, Minister of Mines and Energy, announced this after long talks with Ibama.
Next month, Petrobras will start drilling. This follows the arrival of a platform at the location.
Initially, the aim is to evaluate a 2013 oil find in the Pitu well. Currently, no oil production is taking place.
Upon approval, Petrobras plans to drill two exploratory wells. These will be in the maritime block BM-POT-17, in the Potiguar Basin’s deep waters.
The first drill site is 52 kilometers from the shore. The company ran a simulated response to a potential oil spill earlier this month.
Petrobras considers this area as one of Brazil’s last big exploration opportunities. The company hopes it might rival Exxon Mobil’s significant finds in northern Guyana.
Previously, Ibama halted Petrobras’s plans in the Foz do Amazonas Basin due to environmental issues.
In response, Petrobras sought approval for Potiguar Basin exploration.
Further Studies in Amazonas Basin
This new approval opens doors for further studies. Silveira said These are crucial for exploring the Foz do Amazonas Basin.
His department’s research suggests that this basin alone could hold 5.6 billion barrels of oil.
Brazil aims to boost its domestic oil output. At the same time, it maintains a focus on environmental sustainability.
The expected increase in oil production has sparked protests and political tension.
Silveira expects the new project to bring economic growth and social benefits. This includes more resources for healthcare and education.
Petrobras also stated that this exploration is vital for Brazil’s energy security and low-carbon future.
Ibama has not yet commented on the approval.