Petrobras Announces Increased Investments in Northern Brazil Due to High Potential in the Brazilian Equatorial Margin

Written by Valdemar Medeiros

Published on 28/09/2020 at 09:59

colaboradores offshore da Petrobras

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After Agreement With Total E&P to Take Over Operations in Ultra-Deep Waters in Northern Brazil, Petrobras Announces Leverage of Exploratory Investments in Amapá.

In 2018, the Brazilian environmental agency IBAMA rejected Total’s request for an environmental license to drill in the northern basin, 120 kilometers (74.56 miles) off the coast of Brazil, for the fourth time alongside Petrobras. Geologists said the area could hold up to 14 billion barrels of oil, more than all the proven reserves in the Gulf of Mexico.

Oil Exploration in the Mouth of the Amazon

Environmentalists tried to prevent oil exploration in the Mouth of the Amazon after a huge coral reef was discovered nearby. Total, which invested and led a group including the British BPC and Petrobras in purchasing exploration blocks in the northern area, stated in early September that it would relinquish its role as operator of the project.

The environmental organization Greenpeace said on Monday that the Amazon River reef would definitely be spared if BP and Petrobras also withdrew from the project.

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About Total Group in Brazil and Its Investments with Petrobras

Total Group began its presence in Brazil more than 40 years ago, in 1975. They currently operate through six subsidiaries in the country in the segments of Exploration and Production, Marketing and Services, Refining and Chemicals, and Gas, Renewables and Energy.

The Group has about 3,000 professionals committed to providing better energy in Brazil. Total is present in Brazil through six branches. Total E&P of Brazil operates in the Exploration and Production sector and has a broad and diversified portfolio consisting of 21 offshore blocks, focusing on deep offshore.

The company’s main investments in the country are the Lapa field, where Total became the first international company to operate a producing field in the Santos Basin, the pre-salt, the Libra field, and the Iara block, all located in the pre-salt of the Santos Basin, as well as the CM-541 block in the Campos Basin, acquired by Total in 2019. In 2017, Total sealed the Strategic Alliance with Petrobras to promote technical cooperation between the two companies, undoubtedly one of the best investments ever made.

Petrobras Announces Increased Investments in Northern Brazil Due to High Potential in the Brazilian Equatorial Margin

After Agreement With Total E&P to Take Over Operations in Ultra-Deep Waters in Northern Brazil, Petrobras Announces Leverage of Exploratory Investments in Amapá.

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Petrobras Announces Increased Investments in Northern Brazil Due to High Potential in the Brazilian Equatorial Margin

After Agreement With Total E&P to Take Over Operations in Ultra-Deep Waters in Northern Brazil, Petrobras Announces Leverage of Exploratory Investments in Amapá.

Read Also

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While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

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