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With investments estimated at tens of billions of dollars and a direct impact on public revenue, the Equatorial Margin could become one of the country's main energy growth vectors in the coming decades.
The Institute for Strategic Studies of Oil, Natural Gas and Biofuels (INEEP) launched a study in which it advocates that the Brazilian Equatorial Margin be recognized as a strategic area by the National Council for Energy Policy (CNPE).
The proposal aims to ensure the country's energy sovereignty and boost public investments and revenues, in addition to promoting regional development.
Located on the coast that stretches from Amapá to Rio Grande do Norte, the region is considered a new frontier for the exploration of oil and natural gas in Brazil and can attract more than US$56 billion in investments and generate around US$200 billion in revenue for the State.
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Ineep also proposes changes to the exploration model for blocks in the region, suggesting the adoption of a sharing regime to guarantee broader gains for Brazilian society.
Equatorial Margin is a new energy frontier for Brazil
The Equatorial Margin comprises a vast maritime strip to the north of the country, covering the Foz do Amazonas, Pará-Maranhão, Barreirinhas, Ceará and Potiguar basins.
According to the federal government, this area is considered a strategic priority for the Ministry of Mines and Energy, as it represents a promising alternative to the already consolidated production in the pre-salt layer.
The Ineep study highlights that the exploration of the Equatorial Margin will not only contribute to maintaining national energy self-sufficiency, but also has the potential to finance public policies in essential areas such as health, education and infrastructure.
This perspective is based on forecasts of financial returns from auctions and exploration of blocks, which could generate robust economic effects in the medium and long term.
Sharing regime is seen as essential for the Equatorial Margin
Currently, the 65 blocks located in deep and ultra-deep waters in the region are included in the 5th Permanent Offer Cycle of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), scheduled for June and operating under the concession regime.
However, Ineep advocates the withdrawal of these blocks from this round and proposes that they be transferred to the sharing regime.
Unlike the concession model, where the oil produced belongs to the company that won the auction, in the sharing regime the State maintains part of the production.
This model, already used in pre-salt areas, is seen by Ineep as more suitable for ensuring direct public gains and greater strategic control over energy exploration.
Regional development and energy security on the agenda
For Ineep researchers, the Equatorial Margin must be articulated with a national development project that contemplates the following objectives:
- Energy security and sovereignty;
- Expansion of the domestic energy supply;
- Strengthening of national industry;
- Increased refining capacity;
- Reduction of regional inequalities;
- Promotion of technological innovation aimed at energy diversification;
- Adaptation to climate change and decarbonization of the economy.
“Advances in oil and gas exploration in the MEB do not represent setbacks in relation to the energy transition”, highlights the study, reinforcing that the 360 thousand km² region was recently incorporated into Brazilian territory after recognition by the UN, which further increases its geopolitical relevance.
Ineep's strategic recommendations
The study, prepared by technical directors Ticiana Alvares and Mahatma Ramos dos Santos, together with researchers Francismar Ferreira and Maria Clara Arouca, provides recommendations that go beyond the simple exploration of resources. Among them:
Recognition of the Equatorial Margin as a strategic area by the CNPE;
Resumption of Petrobras’ exclusivity in conducting exploration and production operations;
Regulation of the Social Fund, to guarantee the redistribution of profits arising from exploration;
Strengthening Ibama’s autonomy, ensuring environmental protection in the process.
According to the authors, “the debate on MEB cannot be limited to the dichotomy between environment and development”, highlighting that the discussion needs to integrate climate, geopolitical and sovereignty variables.
Ineep states that this is just the first in a series of studies that will be launched with the aim of contributing to the debate on strategic energy policies in Brazil.
The proposal to recognize the Equatorial Margin as a strategic area marks an important step in the construction of an energy policy that combines security, sustainability and economic development.
