Petrobras Will Invest R$ 1.5 Billion in Oil Exploration in the Equatorial Margin

Written by Roberta Souza

Published on 06/10/2021 at 18:33

Plataforma de petróleo/ Fonte: Portos e Navios

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In Total, Petrobras Plans to Invest About US$ 1.5 Billion to Drill, in Five Years, 14 Oil Exploratory Wells in the Region

Petrobras plans to make an investment of about US$ 1.5 billion to drill 14 oil wells off the equatorial margin of Brazil in the next five years. The region is considered to have high environmental sensitivity and, therefore, oil companies that acquired exploratory areas in this basin have not been able to advance their projects due to a lack of licensing. Also, read this news: US$ 13 Billion Investments in the Campos Basin by the World Leader in Oil Exploration and Production Petrobras Promise to Generate Jobs, Taxes, Royalties, Special Participation, and Dividends

Oil Exploration Off the Equatorial Margin

The Director of Exploration and Production at Petrobras, Fernando Borges, stated in an interview with the newspaper “Valor Econômico” that the company intends to increase investments in drilling in the Equatorial Margin. In total, the state-owned company plans to invest about US$ 1.5 billion to drill 14 exploratory wells in the region over the next five years.

“Petrobras continues to maximize the value of its portfolio, focusing on deep and ultra-deep waters, operating ethically and transparently, with safety in its operations and respect for people and the environment,” said an executive from the state-owned company.

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Petrobras Still Plans More Oil Exploration in the Pre-Salt

Petrobras believes there is still potential to implement nine new production systems in the pre-salt, according to the company’s Director of Exploration and Production. Since the region was discovered 15 years ago, 22 projects have been implemented. Currently, there are another 13 underway, some of which are in the final contracting phase.

“The oil and gas industry is very competitive. There is a lot of room for investment. In the last three years, Petrobras’ contribution, in terms of wells and everything else, reached R$ 550 billion (in the pre-salt),” said the executive during the virtual event Shell Talks. Borges reported that the company is drilling “two very important blocks” in the Santos Basin, where most of the pre-salt is located.

“They are two large areas that can bring a new challenge of several projects,” said the director, highlighting that Petrobras is building the necessary infrastructure to extract all available gas from the pre-salt, in volumes that do not compromise oil production.

Also Check This News: Proposal for Petrobras Oil Fields Albacora and Albacora Leste Reaches US$ 4 Billion

Petrobras announced in a relevant fact last Thursday, confirming news published in the press, that it received binding billion-dollar offers from the consortia PetroRio/Cobra and EIG Global Energies Partners/Enauta/3R Petroleum for the acquisition of the Albacora and Albacora Leste fields in the Campos Basin.

The offers, according to the company, may exceed US$ 4 billion for both fields. The company also stated that it is analyzing the proposals, following the evaluation criteria for this project and taking into account all value components and other conditions, including firm payments, contingent payments, and other relevant contractual points.

According to Petrobras, the start of the negotiation phase will be submitted to the deliberation of the company’s executive board after the analysis of the offers is completed. “The company clarifies that the celebration of the transaction will depend on the outcome of the negotiations, as well as the necessary corporate approvals,” says the statement.

Petrobras Will Invest R$ 1.5 Billion in Oil Exploration in the Equatorial Margin

In Total, Petrobras Plans to Invest About US$ 1.5 Billion to Drill, in Five Years, 14 Oil Exploratory Wells in the Region

Oil Exploration Off the Equatorial Margin

Petrobras Still Plans More Oil Exploration in the Pre-Salt

Also Check This News: Proposal for Petrobras Oil Fields Albacora and Albacora Leste Reaches US$ 4 Billion

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Petrobras Will Invest R$ 1.5 Billion in Oil Exploration in the Equatorial Margin

In Total, Petrobras Plans to Invest About US$ 1.5 Billion to Drill, in Five Years, 14 Oil Exploratory Wells in the Region

Oil Exploration Off the Equatorial Margin

Petrobras Still Plans More Oil Exploration in the Pre-Salt

Also Check This News: Proposal for Petrobras Oil Fields Albacora and Albacora Leste Reaches US$ 4 Billion

Family without running water in the interior of Ceará takes out a loan to drill an artesian well and discovers possible oil, but cannot use it, cannot sell it, and is left with a debt of R$ 15,000.

On the Greek island of Ithaca, archaeologists have found what may be a sanctuary dedicated to the legendary Odysseus, with inscriptions bearing his name and votive offerings that span from the Mycenaean to the Hellenistic era.

Is a smart plug worth it in a regular home? What does it offer: turns on and off via smartphone, creates routines by schedule, prevents forgotten devices, sometimes monitors consumption, and improves habits without renovation or miracles.

Spain surprises the world by erecting 62 artificial dunes, mixing sand with natural remains of posidonia, and causing the structure to lose only 1.4% of its volume in 1 year.

There is a city in China right next to Hong Kong where people speak Portuguese, the streets have names in Portuguese, and the architecture looks like it came straight out of a historic city in Brazil.

An analysis by NASA highlighted that the Great Wall of China and the Pyramids of Egypt are not visible to the naked eye from the International Space Station, and only one man-made structure is visible in this way.

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The next exploration auction in the pre-salt will offer 23 blocks in the Campos and Santos basins and may change the interest of oil companies in Brazil.

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