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Prepare for an Impressive Turnaround! In the 21st Century, Brazil, which has enjoyed oil self-sufficiency for nearly two decades, may revert to being an oil importer within just a decade. This, according to Petrobras, is due to a lack of exploration in the much-discussed equatorial margin. The reason? The difficulty in obtaining licenses to extract oil from the mouth of the Amazon, an area considered the “new pre-salt” of the country.
During a lecture held this Thursday (24) in Rio de Janeiro, Petrobras’ Exploration and Production director, Sylvia Anjos, brought an alarming concern. If oil production in the equatorial margin does not advance, Brazil may revert to being an oil importer between 2034 and 2035. According to Sylvia, the time for new discoveries is running out, especially as pre-salt production, which currently accounts for 81% of national production, is expected to begin declining in the next five to six years.
The equatorial margin, an area stretching from the coast of Rio Grande do Norte to Amapá, represents vast potential for oil production at the mouth of the Amazon. Petrobras has already drilled 16 wells in the region, but only two have environmental authorization from Ibama, which denied licenses for other strategic locations. To move forward, Petrobras has requested a reconsideration from the agency, which has not yet responded.
Petrobras: Without Extraction at the Mouth of the Amazon, the Country Would Have to Import Oil
Sylvia Anjos emphasized that if Brazil does not explore new reservoirs, such as those in the equatorial margin, the country will face a drastic decline in production, compromising the energy independence achieved since 2006. “We are racing against time to avoid importing oil again,” she stressed.
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Petrobras is working intensively to meet Ibama’s environmental requirements. Among the solutions presented are the creation of animal rescue centers in case of oil spills and ensuring that regional infrastructure, such as the Oiapoque Airport, is equipped to handle large-scale operations.
Sylvia also denied rumors about the presence of corals at the mouth of the Amazon, highlighting that the area already experiences intense ship traffic and is not an “isolated sanctuary,” as some environmental critics claim.
3 Months for Drilling
If the license were granted today, Petrobras estimates it would take at least three months to prepare the area and start drilling. Delays in obtaining the licenses have already caused operational losses to the state company, which has been spending about US$ 600,000 per day on idle drilling rigs.
In addition to environmental challenges, Petrobras also faces economic issues. The high cost of production platforms, which can reach US$ 4 billion, threatens the viability of new projects. However, Petrobras remains optimistic about the possibility of forming partnerships with major oil companies if oil production in the equatorial margin is confirmed.
Importing Oil to Brazil Threatens Its Self-Sufficiency
While the world discusses the energy transition, Petrobras seeks to balance the exploration of new frontiers with carbon emission reductions. Director Sylvia Anjos highlighted that Brazilian oil, especially from the pre-salt, is already among the least polluting in the world, with CO₂ emissions well below the global average.
Still, time is the greatest adversary. If there are no advances in exploring the mouth of the Amazon, Brazil may see its energy landscape change drastically in the coming years, jeopardizing its self-sufficiency.
Petrobras remains confident that it will meet all environmental requirements to secure the license, but the clock keeps ticking. The future of oil production in the equatorial margin will be crucial for the country in the coming decades.
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