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Montevideo, May 24th 2024 - 15:36 UTC



Petrobras finds oil not far from Amazon River mouth

Wednesday, April 10th 2024 - 19:51 UTC
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Petrobras' deep sea explorations have drawn heavy criticism from environmentalist groups Petrobras' deep sea explorations have drawn heavy criticism from environmentalist groups

Brazil's state-owned oil company Petrobras said Wednesday it had discovered a new reservoir in the ultra-deep waters of the Potiguar Basin, in the Anhangá exploratory well, located between the states of Amapá and Rio Grande do Norte.

The area is known as “the equatorial margin” and marks an exploration frontier for Petrobras' ventures in deep and ultra-deep waters. Despite its potential in the oil and gas sectors, there are numerous objections stemming from environmental concerns given its proximity to the mouth of the Amazon River. In addition to the Potiguar Basin, the equatorial margin includes the Foz do Amazonas, Pará-Maranhão, Barreirinhos, and Ceará basins.

According to Petrobras, the oil accumulation was found at a depth of 2,196 meters. The Anhangá well is located near the border between the states of Ceará and Rio Grande do Norte, about 190 kilometers from Fortaleza and 250 kilometers from Natal.

In addition to becoming a new achievement for the milestone-rich administration of Jean-Paul Prates who took the helm of Petrobras at the start of President Luiz Inácio Lula da Silva's third term, it was also the second discovery in the Potiguar Basin this year.

In January, the company found hydrocarbons in the Pitu Oeste well, some 24 kilometers from Anhangá. The state-owned company assured that the discoveries still “deserve further evaluation”. Petrobras is the operator of both concessions and has 100% participation.

According to Petrobras, during the drilling of these wells, there have been no incidents with workers or related to the environment.

In addition to the activities in the Brazilian equatorial margin, the Brazilian state-owned company acquired new blocks in the Pelotas Basin, in southern Brazil, in 2023, as well as stakes in three exploratory blocks in Sao Tome and Principe, a coastal country in West Africa.

Petrobras plans to invest US$ 7.5 billion in exploration until 2028, of which US$ 3.1 billion will go to the Equatorial Margin, during which time 16 new exploratory wells will be drilled in that area alone.

Prates' achievements also include the highest profits without selling refineries, pipelines, or subsidiaries; ten company market value records throughout 2023; the highest value on the Stock Exchange; and the company's return to the international stage.

Categories: Energy & Oil, Brazil.

Top Comments

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  • FortHay

    The initial location makes no sense: “. . .located between the states of Amapá and Rio Grande do Norte”, but the subsequent description as being between Ceara and Rio Grande do Norte does. In the 1970's and 80's I was on platforms offshore Fortaleza looking for these horizons. Apparently Petrobras finally went deep enough. If these discoveries pan out, perhaps Fortaleza will finally get the refinery it should have back when the huge Potiguar production of shallow oil came on stream. Good for Petrobras. I trust they will put the corrupt past behind them and continue to power the future of the nation for everyone's benefit.

    Apr 11th, 2024 - 03:46 am 0
  • Brasileiro

    This oil discovery, in my opinion, is the biggest the world has ever seen. Ten times larger than the pre-salt in the Southeast Region. Something around 400 billion barrels of excellent quality oil.

    Regarding environmentalists, Petrobrás developed its own technology for exploring oil in deep waters, which has not caused any environmental disaster for more than 30 years. Unlike BP Water Horizon in the Gulf of Mexico.

    I believe that environmentalists should monitor the oil prospecting carried out in the Essequibo region, which is much closer to Foz do Amazonas and is not carried out with the proven competence of Petrobrás.

    Apr 11th, 2024 - 02:29 pm 0
  • Chicureo

    Congratulations for our Brazilian friends!

    Meanwhile today my family are enjoying freshly harvested peaches with Chile Champagne.

    The authentic Italian Bellini, like the one first made in Harry's Bar in Venice, combine one part fresh peach puree with two parts Prosecco.

    An absolutely marvelous beverage!

    * * *

    To all MP readers enduring Skippy's diatribes:

    Six years ago:

    ¡Saludos de La Dehesa!

    Apr 13th, 2024 - 12:52 pm 0
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