Petrobras Receives Approval to Clear Corals for Drilling in Foz do Amazonas
Petrobras has secured approval to clear corals from its drilling vessel intended for the Foz do Amazonas region. This approval allows the vessel to proceed if it receives a license for exploration in the environmentally sensitive area. The company remains optimistic despite prior setbacks regarding drilling permits from Brazil’s environmental agency.
Petrobras has received authorization from Brazil’s environmental agency to remove corals from the underside of its drilling vessel designated for use in the Foz do Amazonas region. This approval, granted on Monday, follows the company’s request submitted on February 10. The vessel is set to drill off the coast of Amapa state, contingent upon receiving the necessary exploration license for this ecologically sensitive area.
The removal of the corals, deemed a potentially invasive species if relocated, will be conducted under the supervision of Ibama, the federal environmental agency. Following the clearance of corals in Rio de Janeiro, the vessel will proceed to the Equatorial Margin, recognized by Petrobras as one of the most promising sites for oil exploration.
Petrobras aims to commence drilling in the Equatorial Margin this year, pending the approval of the exploration license. However, the company recently encountered obstacles; Ibama’s technical staff recommended denying the drilling license for a specific site at the northern end of the Equatorial Margin, sharing geological characteristics with fields being developed by Exxon Mobil in nearby Guyana.
During the CERAWeek conference in Houston, Sylvia dos Anjos, the head of Petrobras’ exploration and production division, expressed optimism regarding the company’s potential to secure the necessary license. It is noteworthy that, in May 2023, Ibama had previously rejected Petrobras’ application for an offshore drilling license in the Foz do Amazonas region due to environmental apprehensions, and the company subsequently lodged an appeal while awaiting Ibama’s final determination.
In summary, Petrobras has gained approval to clear corals from its drilling vessel for operations in the Foz do Amazonas region, with further steps dependent on obtaining an exploration license. Despite past setbacks with Ibama regarding drilling permits, the company remains hopeful about advancing its operations in the promising Equatorial Margin area this year.
Original Source: www.tradingview.com
