Exploration of the Equatorial Margin could generate 350 jobs and investments of R$280 billion. With promises of a better future, Petrobras is one step away from making a new discovery that could transform the country's economy.
The search for new oil reserves in Brazil is about to reach a historic milestone.
With the expectation of generating 350 thousand empregos and investments that exceed $ 280 billion, the exploration of the controversial Equatorial Margin has the potential to transform the country's economy.
This area, which stretches from the coast of Rio Grande do Norte to Amapá, could become a new oil Eldorado, promising not only economic growth, but also a promising future for Brazilians.
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However, this journey to a more prosperous future is not without its challenges.
The country needs to continue expanding its oil frontiers to maintain its position as one of the world's largest oil producers.
According to estimates by the Organization of the Petroleum Exporting Countries (OPEC), global demand for energy is expected to grow, reinforcing the need for exploration in the Equatorial Margin.
Debates and initiatives
According to information from the newspaper “The Globe“, the topic dominated discussions during ROG.e, formerly known as Rio Oil & Gas, which took place last week in Rio de Janeiro.
On the first day of the event, the Ministry of Mines and Energy (MME) announced the creation of the program Enhances E&P (exploration and production), designed to promote sustainable development, focusing on new exploratory areas and onshore fields with marginal potential.
Alexandre Silveira, Minister of Mines and Energy, emphasized the importance of the oil and gas sector for public finances, stating that “the program has total synergy between economic development, environmental preservation and generation of opportunities. It is growth with social inclusion.”
The minister also defended exploration on the Equatorial Margin, considering it essential for Brazil's energy future.
Expectations and investments
Petrobras, which is awaiting approval from Ibama to drill its first well in the Foz do Amazonas basin, reveals that the Equatorial Margin may hold potential reserves of up to 10 billion barrels of oil.
This significant investment will not only strengthen Brazil's position in the global market, but will also create a new stream of jobs and revenue.
“The Equatorial Margin is a clear example of this (sectoral) policy. We will move forward responsibly, meeting all criteria, without giving up our national sovereignty and providing a better life for Brazilians,” the minister began.
“We will not stop being oil exporters and become importers,” said Silveira, who also highlighted the need to explore unconventional gas reserves and the Pelotas Basin, on the coast of Rio Grande do Sul.
Petrobras: challenges and security
Magda Chambriard, president of Petrobras, acknowledged that one of the company's main challenges is replenishing its reserves.
“Our reserve replenishment needs are serious. We are working to be able to explore the Equatorial Margin,” he commented.
Sylvia dos Anjos, Petrobras’ director of Exploration and Production, highlighted the importance of new discoveries.
“It is critical to make new discoveries. We are fighting to obtain the license and following all the requirements of Ibama. We had the pre-salt in 2007, and by 2029 or 2030 production will start to fall. This is the time to make a new discovery before that happens. Otherwise, we may have to import oil,” he warned.
Sylvia also assured that Petrobras has already drilled five thousand offshore wells without recording any environmental incidents. Investments in safety on the Equatorial Margin are, according to her, double the average in the Santos and Campos regions.
“The area we are going to drill in Equatorial Margin It is 2.800 meters deep. It is 500 kilometers from the mouth of the Amazon and 200 kilometers from the coast. The currents in the region do not head towards the coast. We are confident that there will be no impact. The area is a route of intense shipping traffic,” he added.
Brazil's energy future
J. Hunter Farris of ExxonMobil also highlighted the growing demand for energy through 2050, arguing for increased investment in the sector.
“That’s where Brazil comes in, with a lot of potential. The Equatorial Margin is a key piece in this scenario,” he said.
During the event, Petrobras signed a non-binding memorandum of understanding with the state-owned Staatsolie Maatschappij Suriname to evaluate opportunities for cooperation in oil and gas exploration and production, as well as carbon capture and accident response planning.
An agreement was also signed with YPF of Argentina to analyze the joint development of business in the exploration and production segment.
Silveira, from the MME, revealed that Brazil will cooperate with India to assist the Asian country in oil and gas exploration.
“Petrobras has expertise and is studying the possibility of collaborating with India in this challenge of exploring this new frontier in the Indian Ocean,” added the minister.
Brazil's future in oil exploration looks promising, but it is essential that the country balances economic growth with environmental preservation and social responsibility.
We are on the cusp of a new era of discovery that could revolutionize our economy.
Do you believe that the exploration of the Equatorial Margin will bring the promised benefits or will it generate more problems than solutions for Brazil? Leave your opinion in the comments!