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Petrobras is eyeing deposits outside Brazil, but without forgetting the country: the state-owned company seeks new reserves to strengthen national production

Written by Alisson Ficher
Published 16/10/2024 às 10:32
Petrobras seeks to strengthen domestic production while exploring deposits outside Brazil, with strategic partnerships and new reserves.
Petrobras seeks to strengthen domestic production while exploring deposits outside Brazil, with strategic partnerships and new reserves.

Petrobras is expanding its search for international deposits, but it is not forgetting Brazil! With innovative partnerships and investments in Pelotas, the state-owned company is looking towards a promising future.

A Petrobras, one of the world's largest state-owned oil companiesIs expanding its view to deposits beyond Brazilian borders, while simultaneously seeking strengthen its national production.

New international reserves and focus on Brazil

The president of Petrobras, Magda Chambriard, revealed ambitious plans for the company at a breakfast with journalists, during the celebration of the state-owned company's 71st anniversary.

Magda highlighted the importance of a new strategy that includes exploration of international reserves, especially in Equatorial Margin, while emphasizing the need to strengthen production in Brazil.

“We are focused on finding new reserves to ensure the sustainability of national production and, at the same time, we seek opportunities outside the country,” stated.

During the event, the president also announced a partnership with Vale to boost the decarbonisation of the fleets of both companies.

“With 100% renewable fuel, we can significantly reduce carbon emissions in Brazil,” he explained.

This initiative not only shows Petrobras' commitment to sustainability process, but also opens doors for the exploration of new technologies in the sector.

Increasing refining capacity and leveraging old platforms

According to the newspaper The Globe, Petrobras plans recover old platforms instead of decommissioning them, seeking a more sustainable approach.

“We are evaluating the possibility of reusing the platforms to strengthen the Brazilian naval industry. The plan is still under development, but we are already thinking about vessels with local content,” said Magda.

The state-owned company also committed to increase refining capacity in Brazil to reduce dependence on imports.

“We will soon have additional diesel capacity with the first train from the Northeast Refinery (Rnest), which will add 25 barrels per day,” reported.

Exploration on the Equatorial Margin

Sylvia of the Angels, director of Exploration and production, highlighted that Petrobras is focused on the search for new reserves on the Equatorial Margin, especially in Amazon River Basin.

“We are determined to expand our reserves, and the initial results are promising. With gas found in Colombia and new discoveries in Rio Grande do Norte, we believe there is great potential to be explored,” declared.

Furthermore, the director expressed optimism regarding obtaining drilling licenses at the mouth of the Amazon, predicting a return of the Ibama in 2024.

However, due to the delay in the licenses, Petrobras requested the National Petroleum Agency (ANP) an extension of the exploratory period.

Investments in Pelotas and comparisons with Namibia

One of the highlights of Petrobras' strategy includes investments on the coast of Rio Grande do Sul, in Pelotas, where there is an estimated potential of 11 billion barrels of reserves.

Magda compared this area to Namíbia, famous for its great oil discoveries, stating: “If Namibia can do it, Pelotas can too. We are confident in the opportunities that this region offers us.”

Petrobras' future prospects for national production

Petrobras continues to prepare for a promising future.

Magda mentioned that the FPSO Maria Quitéria will begin operating in the field of humpback and that the FPSO Almirante Tamandaré should start operating later this year.

“With six more platforms planned for the Búzios field, our gas production should increase considerably,” highlighted.

Petrobras' CFO, Fernando Melgarejo, also did not rule out the possibility of extraordinary dividends in the next business plan, emphasizing the importance of adequate minimum cash for the company's sustainability.

A Petrobras is at a crucial moment, navigating between the search for new deposits outside Brazil and strengthening national production.

With strategic partnerships and investments in innovation, the state-owned company is preparing to face the challenges of the oil sector, reaffirming its commitment to sustainable development in Brazil.

Do you believe that Petrobras will be able to stand out in the international oil market, even with all the challenges ahead?

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Alisson Ficher

Journalist graduated in 2017 and working in the field since 2015, with six years of experience in print magazines and over 12 thousand online publications. Specialist in politics, jobs, economics, courses, among other topics. If you have any questions, want to report an error or suggest a topic on the topics covered on the site, please contact us by email: alisson.hficher@outlook.com. We do not accept resumes!

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