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Jean Paul Prates Spoke with CNN About the Outlook for Oil Production in the Mouth of the Amazon in 2024, With Local Economic and Environmental Benefits.
The president of Petrobras, Jean Paul Prates, highlighted, in an exclusive interview with CNN, the importance of allocating part of the funds obtained from oil royalties to the Amazon.
Prates emphasized that it is essential to consider a bill and initiatives from local governments in regulating the use of these resources, aiming to transform it into sustainable economic activities in the Amazon region.
‘It is fair that the government shares paid for the production and exploration of oil are directed to benefit the Amazonians’, the president stated. He also emphasized the responsibility of leaders to care for and ensure that these resources are used appropriately in the region.
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Under kilometers of water, rock, and salt, Brazil hides a colossal wealth that led an official guide from the U.S. government to recognize the country as the owner of the largest ultra-deep oil reserves in the world.
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Iran said that the Strait of Hormuz is open, but in practice only 1 non-Iranian oil tanker managed to cross in 24 hours — before the blockade, 100 ships passed per day.
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Petrobras completes 1,300 hours of work and 15 km of subsea lines to connect the Búzios 90 well to the P-79 — the platform is ready to produce 180,000 barrels per day and is just awaiting ANP approval.
Oil in the Amazon: Petrobras President Advocates Oil Search in AP | CNN PRIME TIME
According to a Petrobras representative, there is already a group of lawmakers discussing the subject of oil exploration: ‘This debate exists, it is being raised among lawmakers, especially Senator Eliziane [Gama (PSD-MA)], from Maranhão, Senator Randolfe [Rodrigues (Rede-AP)], and others, talked to us, we even helped to foster this process of discussion, and of course, they as lawmakers will take care of this debate there, bringing a legislative proposal that confines a portion of this resource, either through the Amazon Fund or other items.’
Oil in the Amazon: Petrobras President Expresses His Expectation About Exploration in the Mouth of the Amazon
He stated that the drilling of the well in the Mouth of the Amazon should occur in the second half of 2024. ‘The expectation is in the first half, after the first well from Potiguar, to try to receive the license to drill the Mouth and go back to drill the second well, or drill both wells and in the second half of next year drill the Mouth of the Amazon’, he stated.
Oil in the Amazon: Petrobras President Discusses the Discovery Process
However, any potential exploration, according to him, may take years. ‘The rig is just to drill, find oil and go away. And that takes 3 to 4 months. After finding this oil, if found, you will have an evaluation period that can last up to 180 days or more, half a year or more, assessing that discovery, whether it is worth it or not’, he stated.
Oil in the Amazon: Petrobras President Highlights the Development Plan for Oil Exploration
‘Even so, you still have to drill other wells, as is the case with Pitu that I just mentioned, to delineate the reservoir, how far it goes. To know exactly how much reserve you have there and whether it is worth producing. Then one day the time comes when someone concludes that it is worth producing’, explained Jean Paul Prates.
Oil in the Amazon: Petrobras President Explains the Energy Transition
He points out the elements that will ultimately influence the decision on oil exploration in the region. ‘It is a political decision where to produce, when, and what somewhere, when it comes to natural resources granted by the government’, he assesses.
Oil in the Amazon: Petrobras President Talks About the Economic and Social Benefits of Exploration
‘It is important to remember, it is not politics because it is Lula or because it was some other president, it is not that’, he added. ‘It is politics because it is national policy to define Brazil’s exploratory horizon. Do we want to produce more oil or do we want to continue being producers and self-sufficient for the next 40 or 50 years, even with the decline curve? But do we want to be owners of our own oil or do we want to take the risk of having to import? Do we want to replenish reserves as I’m talking about or do we not want to? This is a political decision.’
Oil in the Amazon: Petrobras President Considers Exploration a Sectoral Political Issue
He emphasizes that the decision to explore oil in the Amazon is a sectoral political issue. Exploring oil in Alaska was a political decision, he states.
But it is not political in the sense of saying this political figure, this party. That’s why the answer must be very specific. Politics, from the standpoint of national energy policy. Do I want to produce oil or do I not want to produce oil anymore, do I want to import oil in 20 years?’
CNN publishes the special series Oil in the Amazon this week. Check out the reports here.
Source: CNN Brazil
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