Maranhão and Pará will receive new investments from Petrobras in an attempt to drill new oil wells in the region.  

Between 2022 and 2025, Petrobras announced a new round of investments, six of which will be on the dividing line with French Guiana. A total of R$ 8 billion will be invested in drilling new oil wells, in order to foster new jobs and income for the Brazilian economy, which include the Pará-Maranhão basins.  

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Brazilian Equatorial Margin will receive one of the largest investments in the oil and gas industry  

“The Brazilian Equatorial Margin is one of the biggest investments for the oil industry on the planet. Petrobras showed, at this meeting, that this basin is a priority”, said Alan Kardec Barros.

Studies carried out by the state-owned company demonstrate a great potential for oil exploration in the sedimentary basins of the Brazilian equatorial margin, which includes the basins – Foz do Amazonas, Pará-Maranhão/Barreirinhas and Potiguar.

“The wells in Guyana and Suriname, plus these discoveries in Africa that are yielding a lot, aroused Petrobras' interest in the Equatorial Margin region. And the company announced that it will drill wells in the Barreirinhas Basin”, explained Alan Kardec.

IBAMA release

“Currently, the ball is in our hands, not Ibama, which has already reviewed part of the studies presented. We need to develop a simulation that demonstrates that we have all the necessary resources to obtain a drilling license in that area”, stated Petrobras' Director of Exploration and Production, Fernando Borges, during the event.  

Petrobras will allocate BRL 300 million to a social program for cooking gas aimed at low-income families

Last Wednesday, Petrobras announced that it will allocate R$ 300 million to the cooking gas social program, which will last for 15 months, with the aim of helping low-income families to buy cooking gas.  

The social program comes as Brazil grapples with rising inflation driven by high energy and food prices, which has hurt President Jair Bolsonaro's popularity ahead of next year's presidential election. Joaquim Silva e Luna, said, which reinforces the company's "social role" amid the outcomes of the COVID-19 pandemic, which the state-owned company sees as an "exceptional and emergency situation".  

The current president of the state company also pointed out, in a press conference earlier this week, that the company does not intend to change its fuel price policies.