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Petrobras faces a dilemma: while it discovers oil deposits comparable to the pre-salt, the lack of environmental licenses could force Brazil to return to importing oil.
It is already known to many that the Petrobras, a state-owned giant, discovered an oil deposit on the equatorial margin, an area that promises to be as rich as the famous pre-salt.
However, this discovery cannot yet be used by the state-owned company, since the lack of authorization for exploration leads to an uncertain future: the possibility of having to import oil again in the coming years.
The alarming statement came from Sylvia Anjos, Petrobras' director of Exploration and Production (E&P), during an open class at the Alberto Luiz Coimbra Institute of Graduation and Research in Engineering (Coppe), at the Federal University of Rio de Janeiro (UFRJ).
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The reality of pre-salt
In her statement, Sylvia emphasized that, if no new discoveries are made, Brazil could once again become an oil importer in 2034 or 2035, due to the predicted drop in pre-salt production.
Since 2006, Brazil has been self-sufficient in oil, and currently, 81% of national production comes from the pre-salt.
The equatorial margin, which extends from the coast of Rio Grande do Norte to Amapá, is compared to the pre-salt layer due to its high probability of containing significant reserves.
However, environmentalists criticize the exploration due to the potential for environmental damage.
Petrobras currently has 16 wells in the new exploratory frontier, but has obtained authorization from the Brazilian Institute of the Environment and Renewable Natural Resources (Ibama) to drill just two on the coast of Rio Grande do Norte.
The license to explore other areas, such as the Foz do Amazonas Basin, was denied, leading Petrobras to request a reconsideration from the agency, linked to the Ministry of Environment and Climate Change (MMA).
Ibama has not yet said when it will make a decision on this request.
Environmental challenges and Petrobras' response
Sylvia explained that Petrobras met Ibama's requirements to obtain the exploration license, which include the creation of shelters for animals in the event of an oil spill, guarantees that there will be no overload at Oiapoque Airport, in Amapá, and simulations of environmental emergencies.
She also criticized what she called “scientific fake news”, referring to the idea that there are corals at the mouth of the Amazon River.
“There is no coral at the mouth of the Amazon, that is not true. There are rocks that look like coral,” he said, noting that the wells are located 540 kilometers from the mouth of the river, far from areas that could be considered marine sanctuaries.
Financial and operational impacts
Sylvia expressed frustration with the current situation, stating that the lack of a drilling license represents an “operational loss” for Petrobras.
The company spent, for example, more than US$600 per day to rent drilling rigs, which were left idle due to lack of authorization.
Although expectations that the license will be granted this year are low, the director remains optimistic, stating that Petrobras is doing everything necessary to guarantee the license.
She also mentioned that drilling, even if authorization is granted immediately, is unlikely to begin before 2025 due to the time needed to prepare the rig.
The future of oil and new technologies
The time between the discovery of a reservoir and oil production can take six to seven years, and Petrobras is looking for suppliers that can offer platforms at a more affordable cost.
The current costs of US $ 4 billion for an FPSO (ship-platform) are considered unfeasible to guarantee the profitability of production.
Sylvia revealed that several large oil companies are interested in partnerships with Petrobras, but the lack of licenses has driven away this interest.
“All companies are looking at Brazil, however, they have lost hope with the licensing issue,” he said.
The relationship with the energy transition
The director believes that there is no contradiction between Brazil's environmental policy and the search for oil exploration.
According to her, Petrobras is investing in technologies that allow production with fewer carbon dioxide (CO₂) emissions.
“Pre-salt emissions can reach seven to nine kilos of CO₂ per barrel,” he says, comparing this to the global average, which is around 17 kg.
Petrobras' production should reach the so-called net zero (negative carbon emissions balance) before 2050.
Uncertainties about exploration in the equatorial margin remain, but hope for a new era for the oil industry in Brazil is alive.
What do you think? Is Brazil prepared to face environmental challenges and ensure its self-sufficiency in oil?
If the oil produced were not Brazilian currency, it would be better. But in dollars, what's the point? We have the will to buy oil from foreign producers in dollars. Therefore, if we are going to produce and sell in Real, support it. Otherwise, leave it there.
It has to be released otherwise we will have to import oil ⛽️.
Importing or not does not change the price for us consumers.
TELL THIS TO THE NORWEGIAN MULTINATIONAL COMPANY THAT POLLUTED RIVERS IN THE AMAZON AND NOBODY OPENS THEIR MOUTH ABOUT IT
This is serious, if true. It shows bad governance. The Amazon
It has to be protected, it must not be invaded by any multinational.
Brazil needs to protect all fauna and flora. It cannot open its doors to
All multinationals. Government that is incapable of protecting its own country
It is not a Government that is tied down…
But it helps to balance public budget accounts and also promotes investments in the nation's development.
Better to import oil than to destroy nature
What we need to do is replace this environment minister! It's absurd that the country is losing such a wealth! Petrobras is showing that it will meet all the requirements to protect the environment. The North, which has always been the most backward and forgotten region by the federal administration, would benefit greatly from this new pre-salt layer.
Whether it matters or not, what changes? They came to the party, oh Brazil is self-sufficient in oil, the oil is ours, and so we pay the highest prices in the world for derivatives.