Petrobras Manager Affirms Drilling of 16 Wells in the Equatorial Margin Remains Viable in the Next 4 Years

Written by Paulo Nogueira

Published on 25/10/2023 at 10:31

A Margem Equatorial é uma das grandes promessas para o ramo de petróleo e gás.

Be the first to react!

Previously, This Initiative Was Planned For A Five-Year Period.

The Equatorial Margin remains the focus of Petrobras for oil exploration in the next five years. Despite facing challenges in obtaining environmental licenses to drill in the Amazonas River Basin, the state-owned company is determined to meet its goal of drilling 16 exploratory wells by the end of 2027. This campaign was originally scheduled for five years but will now be conducted over four years.

During a presentation at OTC Brasil, which is taking place in Rio de Janeiro, Petrobras’ General Manager of Data Technology and Exploration Applications, Otaviano Pessoa, defended the importance of the Equatorial Margin, especially the Amazonas River Mouth, as the region with the greatest exploration potential in the country. He emphasized that the Equatorial Margin area is larger than the Campos, Santos, and Espírito Santo basins combined, and its potential has not yet been fully tested.

Pessoa mentioned that there have been several discoveries off the coast of Africa and also in the Latin American region, such as in French Guiana, Suriname, and Guyana. He believes that the conditions found in these basins will be similar to those encountered in the Equatorial Margin, making it the new frontier to ensure the country’s energy security in the coming years.

ARTICLE CONTINUES BELOW

See also

Petrobras has set aside US$ 6 billion for well drilling in the next five years, with 49% of that amount, approximately US$ 3 billion, allocated to the Equatorial Margin. In total, 42 new wells will be drilled across the country, with 16 of them in the Equatorial Margin, according to Pessoa.

Although there are challenges related to environmental licenses and requirements from Ibama, Petrobras is confident that it will be able to meet its goals. The license for drilling in the Amazonas River Basin was denied by Ibama in March, but the state-owned company is seeking alternatives to overcome this obstacle. The company has already addressed environmental concerns, such as the impact on the lives of local indigenous communities, and hopes to obtain the necessary approval to continue exploration activities.

Pessoa noted that drilling the first well in the Potiguar Basin, called Pitu, is scheduled for 2023, followed by a second well in 2024. He believes that the results of these drillings will reflect in the Amazonas River Basin. The executive acknowledged that the company does not have a plan B for the Equatorial Margin but is always looking for alternatives to ensure the success of its exploration activities.

It is important to emphasize that even if oil is discovered in a new frontier like the Equatorial Margin, it will take time for production to begin. According to Pessoa, the average timeframe is seven to 14 years, but Petrobras is working to shorten this time through the “Prod 1000” program, which aims to start production within 1000 days after discovery. Currently, this timeframe can reach around 3,000 days, but the state-owned company intends to be more efficient and reduce this period in the coming years.

Petrobras Manager Affirms Drilling of 16 Wells in the Equatorial Margin Remains Viable in the Next 4 Years

Previously, This Initiative Was Planned For A Five-Year Period.

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

While common buildings in São Paulo or Berlin occupy the ground for years, in China a horizontal skyscraper the size of the Empire State Building was erected in record time, transforming the city and inspiring new urban solutions.

One of the most challenging bridges in the world is assembled in Malaysia with helicopters, prefabricated parts, and a single pillar to support the curved deck over the mountain.

While conventional religious buildings prioritize height and ornaments, a mosque in Istanbul occupies 1,300 square meters of land but remains almost invisible, gaining international recognition for its innovative design.

While historic squares in Europe preserve only ruins, in Seville a giant wooden structure with six 150-meter mushrooms creates a market, viewpoint, and panoramic walkways over archaeological remains.

It looks like an upside-down subway, but it’s actually a train that has been traveling 13 km suspended over rivers and streets in Germany for 125 years, transporting more than 80,000 passengers a day and attracting tourists from all over the world.

Petrobras Manager Affirms Drilling of 16 Wells in the Equatorial Margin Remains Viable in the Next 4 Years

Previously, This Initiative Was Planned For A Five-Year Period.

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Why didn’t oil reach $150 even after three months of the Strait of Hormuz being closed?

Farmer drills well in Ceará in search of water, accidentally finds crude oil and sees million-dollar discovery hindered by a rule that completely changes the future of the site.

Family finds oil on a 49-hectare site in Ceará, but exploration has no timeline or guarantee of happening

When drilling an artesian well, a farmer wanted water but found oil: ANP confirms that the dark liquid found by a farmer on a site in Ceará is crude oil.

European stocks rise with oil drop after Trump’s remarks on Iran as investors monitor global tension

While common buildings in São Paulo or Berlin occupy the ground for years, in China a horizontal skyscraper the size of the Empire State Building was erected in record time, transforming the city and inspiring new urban solutions.

One of the most challenging bridges in the world is assembled in Malaysia with helicopters, prefabricated parts, and a single pillar to support the curved deck over the mountain.

While conventional religious buildings prioritize height and ornaments, a mosque in Istanbul occupies 1,300 square meters of land but remains almost invisible, gaining international recognition for its innovative design.

While historic squares in Europe preserve only ruins, in Seville a giant wooden structure with six 150-meter mushrooms creates a market, viewpoint, and panoramic walkways over archaeological remains.

It looks like an upside-down subway, but it’s actually a train that has been traveling 13 km suspended over rivers and streets in Germany for 125 years, transporting more than 80,000 passengers a day and attracting tourists from all over the world.