Considering The Environment, Petrobras Projects Aim To Produce Low-Carbon Emission Oil

Petrobras Will Invest in Oil Extraction with Low Carbon Emissions. The Environment Will Benefit Greatly

With the whole world working to reduce carbon emissions, the oil sector can benefit from the generation of new business opportunities. Petrobras believes that low carbon oil extraction technologies could be the main factor that will benefit the environment, according to a Reuters report.

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Fernando Borges, Executive Director of Exploration and Production at Petrobras, is attending an oil conference of the Offshore Technology Conference, where Petrobras is seeking partners for the development of deep water fields.

These fields will feature low carbon extraction technology. These technologies could help oil companies meet carbon emission reduction targets. The Ministry of Mines and Energy has arranged meetings with Exxon, Ecopetrol, and TotalEnergies to discuss the topic, as well as the possibility of new projects in Brazil.

Petrobras will invest in projects designed to operate with reduced carbon emissions, using platforms powered by energy from renewable sources. The understanding is that if these actions are implemented, the platforms will be able to reduce carbon emissions by up to 20%.

Petrobras is responsible for more than two-thirds of oil extraction in Brazil, with about 2.7 million barrels of oil and gas per day. The company aims to reach 3.3 million barrels by 2025. In December, Brazil will offer auction concessions for the exploration of oil and gas in the Sépia and Atapu blocks, in the onerous concession area of the Santos Basin.

The Whole World Will Need to Reduce Carbon Emissions

Oil producers will face a lot of work ahead in environmental issues over the next decades. They are being pressured by entities, investors, and governments to drastically reduce carbon emissions.

Brazil expects to produce oil at a low cost, coupled with lower carbon emissions. The country aims to pump 150,000 barrels per day with only four high-volume wells. Compared to data from a decade ago, similar production would have only occurred with the drilling of 20 wells.