The United Nations Commission on the Limits of the Continental Shelf has recognized a new area of the Atlantic Ocean’s northern seabed and subsoil as belonging to Brazil, covering dimensions equivalent to the size of Germany. Previously, this region was not under any country’s jurisdiction.
Petrobras' newly appointed CEO Magda Chambriard said this week that Brazil's state-run oil company lost 10 years by not exploring an area known as the new pre-salt and criticized the Brazilian Institute for the Environment and Renewable Natural Resources (Ibama) for the delay in authorizing oil explorations in the so-called Equatorial Margin, Agencia Brasil reported.