Home Change at Petrobras boosts investments in oil exploration on the equatorial margin of the North and Northeast

Change at Petrobras boosts investments in oil exploration on the equatorial margin of the North and Northeast

22 May 2024 to 17: 55
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Change at Petrobras paves the way
Photo: Tobias Saldanha

New management at Petrobras brings prospects for growth in oil exploration.

The recent appointment of Magda Chambriard as president of Petrobras, replacing Jean Paul Prates, marks a new direction for the state-owned company and paves the way for investments in the exploration of the vast oil reserves on Brazil's equatorial margin.

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Potential of the Equatorial margin

The equatorial margin extends for more than 2.500 kilometers along the Brazilian coast, between Amapá and Rio Grande do Norte, and has a production potential of 30 billion barrels of oil. According to a study by CBIE Advisory, this region could increase national production by 1,106 million barrels per day from 2029 onwards, representing enormous potential for the development of the states in the North and Northeast of the country.

Magda Chambriard is an advocate for deepwater oil exploration and production on the equatorial margin. During her period as general director of the National Petroleum Agency (ANP), from 2012 to 2016, she made the concession of blocks in this region possible, especially in the 11th round of bidding in 2013.

Economic and social impact

For Carlos Logulo, organizer of the Oil & Gas Summit, an international event that will take place at the Ceará Events Center, in Fortaleza, in March 2025, the change in Petrobras' management points to a sustainable exploration of the riches of the equatorial margin.

“Magda has a successful history in the area of ​​oil exploration, with extensive experience in complex projects. His strategic vision and in-depth knowledge of the sector ensure that Petrobras is prepared to take advantage of opportunities at the margin”, highlights Carlos.

Oil exploration on the equatorial margin has the potential to significantly increase production in Brazil, contributing to the country's energy security and generating foreign exchange. Furthermore, this activity will create thousands of direct and indirect jobs, boosting the economic development of the North and Northeast regions, benefiting from revenues through royalties.

The Oil & Gas Summit Event

A Oil & Gas Summit: Equatorial Margin and Energy Transition aims to encourage discussion around new energy solutions, highlight the role of the equatorial margin on the international scene and be a catalyst for strategic partnerships that allow the development of technological innovations in the oil, gas and energy industry. This event is essential to boost the energy transition towards a sustainable future.

The international fair will take place from March 19 to 21, 2025, at the Ceará Events Center, in Fortaleza, bringing together experts and sector leaders to discuss the opportunities and challenges in oil exploration on the equatorial margin.

With Magda Chambriard's leadership, Petrobras is positioned to capitalize on these opportunities, driving significant growth in Brazil's oil and gas sector. Exploration on the equatorial margin will not only strengthen the country's position in the global energy scenario, but will also bring economic and social development to the North and Northeast regions.

In short, the change in Petrobras' presidency signals a promising future for oil exploration on Brazil's equatorial margin, with positive impacts on the economy, job creation and the country's energy security.

Source: Tobias Saldanha.

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