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Petrobras, Shell and other companies are eyeing a basin that could transform southern Brazil into a new global energy hub.
Brazil's southern coast could be on the verge of a historic milestone capable of redefining the country's economic role in the global energy scene.
In a strategic move, the Petrobras is investing in the exploration of the Pelotas Basin, a region still little known to the general public, but with the potential to raise Brazil to the same level as major oil producers.
A reserve estimated at up to 15 billion barrels of oil by an expert raises the possibility of Southern Brazil emerging as an important economic and geopolitical center.
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Compliant investigation of The Globe, this strategic move occurs in a context where the Brazilian oil industry seeks new horizons, as the pre-salt approaches its estimated production limit for 2030.
According to data from experts, without viable alternatives such as the Pelotas Basin, Brazil runs the risk of becoming an oil importer in the coming years.
The estimated reserve at the site has already attracted the interest of industry giants, such as Shell and the Chinese CNOOC, which formed consortia with Petrobras to explore the region's potential.
The beginning of exploration and the history of the Pelotas Basin
Located in the extreme south of Brazil, the Pelotas Basin was auctioned by the National Petroleum Agency (ANP) in December 2023, attracting large international oil companies.
Petrobras acquired 29 blocks in the region, forming two consortiums, one with Shell and CNOOC, and the other with Shell alone.
Chevron, in turn, also made its presence felt by acquiring 15 blocks, demonstrating the sector's confidence in Pelotas' potential.
For geologist Pedro Zalan, the geology of the Pelotas Basin has significant similarities with reserves in Namibia, where it is estimated that there are up to 13 billion barrels of oil, thanks to discoveries by companies such as Chevron and Shell. “The similarity is total. And Pelotas is bigger and deeper,” says Zalan.
He suggests that, due to its similar geological formation to the African continent at the time of Gondwana, the The Pelotas Basin could contain oil reserves ranging from 10 to 15 billion barrels, which explains the mobilization of large oil companies.
Expectations for the sector and economic relevance for Brazil
According to Roberto Ardenghi, president of the Brazilian Petroleum Institute (IBP), the Pelotas Basin offers hope for preventing Brazil from becoming dependent on oil imports, which would represent a setback in terms of energy self-sufficiency.
For Ardenghi, it is crucial that new areas are explored to sustain the economy.
Companies that acquired blocks at the end of 2023 are already moving to begin seismic studies in the Pelotas Basin, an initial phase that should last three to four years.
The process, however, requires time and resources. After the seismic studies, test wells will need to be drilled to confirm the existence of oil and assess the economic viability of the project.
Only after this can production be authorized by the ANP, a process that can take up to 12 years. This long-term perspective requires detailed planning, but represents an important investment for Brazil's economy.
Infrastructure and development in Southern Brazil
While the first steps are being taken, the logistical structure needed for the development of the region is still under analysis.
Unlike the North of Brazil, where exploration at the mouth of the Amazon is already raising environmental and social debates, the South is eagerly awaiting the economic benefits that the basin could bring.
Cities such as Porto Alegre, Rio Grande, Chuí and Pelotas itself are seen as potential development hubs for the infrastructure needed to transport and produce oil.
However, the geological and economic context of the Pelotas Basin requires specific planning.
“It is a completely different area from the mouth of the Amazon,” explains Ardenghi, emphasizing that it is necessary to assess the conditions of the region before implementing large-scale exploration activities.
In the North, the proximity to other discoveries already made in Guyana and Suriname on the Equatorial Margin drives investment, while Pelotas is still awaiting confirmation of its riches.
Future prospects and the importance of the basin
The relevance of the imminent discoveries in Pelotas is linked to the need to diversify Brazilian oil reserves.
Currently, the country's proven reserves are around 15,9 billion barrels.
Given this scenario, Petrobras and other companies are betting on Pelotas as a new production frontier, capable of guaranteeing Brazilian self-sufficiency in the energy sector.
This race for new oil fields also reflects the growing global energy demand and companies' search for opportunities in as yet unexplored regions.
According to the survey of The Globe, the development of the Pelotas Basin has the potential to elevate Brazil to the status of an energy powerhouse, especially as production in other areas of the country stabilizes.
With the possibility of a reserve that could exceed the 15 billion barrel mark, the Pelotas basin rekindles optimism around the country's energy potential.
But, as experts point out, confirmation and large-scale exploration will require investment and, above all, time.
The imminent discovery, however, represents an important first step towards consolidating Brazil as one of the world leaders in oil production.
And you, do you believe that this discovery could transform Brazil into an oil superpower? Comment your opinion below!
This December 2023 auction was little publicized. The discovery and exploration of oil, in a way, goes against the clean energy production agenda!!! Wealth yes, but it goes against the government's own discourse!
No future. They have already sold everything to multinationals. Wealth is only for the Brazilian elite castes. Prosperity is only in Lula's speech to protect the interests of speculation. What's worse is knowing that the left is mired in this banditry against the people!
The only thing that changes for us, mere Brazilian mortals, is the increasingly unfair prices. Today, a truck pays almost 3 times more per liter of diesel than it did 3 years ago. And this is reflected in the price of everything, especially on the supermarket shelves. So being self-sufficient in oil may not mean that the lives of Brazilians will improve.
The board of directors of the Regional Development Agency for the North and Northeast of the State of Rio de Janeiro – ADRENNERJ, not only believes but is certain that this discovery of oil in the south of Brazil will make our country sufficiently high in oil and gas production.
Our country is colossally rich, now we need to stop some environmentalists who are against everything that will be good for the country, let's explore the mouth of the Amazon responsibly, and prohibit all radical environmentalists from burning oil and just walking 🚶♂️ 🚶♂️ on foot, as they often hinder the country's development in mineral production, we need to monitor with respect to the rules. Comply and everything will be fine.
On the other hand, when we seek independence from oil, someone comes along to throw more gasoline on a fire that has not even begun to go out. This will only hasten the end of the Planet. Greed has limits.
LP
A decoy like pre-salt, a country that is increasingly poor
Remember the vote on the pre-salt regulatory framework? What was the initial destination of the royalties and where did they end up?
Did you forget THAT BOLSONARO HANDED OVER TO THE AMERICANS?