With Petrobras’ Support, New Oil Reserves in the Potiguar Basin Could Be What’s Needed for Strong Investment Attraction in Rio Grande do Norte’s Oil and Gas Sector

The State Is Already One of the Major Producers of Oil and Natural Gas in Brazil, and Now It Has a Wave of Possible Investments on the Horizon. The Confirmation of New Oil Reserves in the Deep Waters of the Potiguar Basin Places Rio Grande do Norte in the Spotlight in 2023 Alongside Petrobras.

For this Tuesday, (03/14), the state of Rio Grande do Norte is preparing for another wave of investments in the oil and natural gas market in the area. With the resumption of Petrobras’ intensive activities in the region and the new oil reserves in the Pitu area of the Potiguar Basin, the state could become one of the major bets for the coming years in Brazil. 

Rio Grande do Norte Returns to Be the Focus of Investments in Oil Exploration by Petrobras. New Oil Reserves in the Potiguar Basin Fuel Interest

Rio Grande do Norte has always been one of the largest producers of oil and natural gas in all of Brazil. Despite Petrobras’ distancing from the state during the Bolsonaro Government, the new presidency of Jean Paul Prates has brought the company’s attention back to the state. 

With a very ambitious investment plan for the area announced by Petrobras, the Potiguar region can now be the home of major future projects. The reason: new oil reserves found in the Pitu region of the Potiguar Basin. 

For investments to be attracted correctly to the new reserves, drilling and verifying the viability of exploration in the area is necessary. In addition, industry experts state that Petrobras’ presence with onshore oil exploration can fuel the sector in the future. 

The area in question is approximately 60 km off the coast of Areia Branca, in the Potiguar White Coast region, near the border with the state of Ceará. It was discovered by the oil company in 2013, with a depth of 4,200 meters, according to company data. 

“With the discoveries that occurred in the ocean margin region facing Venezuela, Guyana, and Suriname, you began to look at the basins of the equatorial margin differently, which are Foz do Amazonas, Barreirinhas, Ceará, and Potiguar,” stated Orildo Lima e Silva, president of the Professional Geologists Association of Rio Grande do Norte (Agern).

Pitu Area in the Potiguar Basin and Equatorial Margin Have High Oil Exploration Potential, but Petrobras Cannot Provide Certainties on Viability

Orildo Lima e Silva also commented on the high potential of the Pitu area in the Potiguar Basin, as well as the areas of the Equatorial Margin. 

He reaffirms the high potential but emphasizes that the verification of technical viability for projects in the area will not happen anytime soon, especially for the next year. 

“There will only be a more definitive projection from the delimitation of the area and the development plan of the area. These are medium and long-term projects,” he highlighted. 

However, he stressed that the influences of short-term investments in the onshore exploration market in Rio Grande do Norte will be essential for future projects. Thus, Petrobras’ presence in the region is highly necessary. 

Finally, the expert warned about the handover of part of the potiguar oil and gas sector to private sector companies. Petrobras, under the command of Jean Paul Prates, can considerably change this in the coming years with new investments in the oil reserves of the Potiguar Basin.