Petrobras expects Ibama approval by Tuesday for exploration in the Equatorial Margin
State-owned company awaits decision from environmental agency to avoid losses
247 - Petrobras is experiencing decisive days in its exploration strategy in the Equatorial Margin. The state-owned company is waiting for the Brazilian Institute of Environment and Renewable Natural Resources (Ibama) to release, by Tuesday (21), the environmental license to drill an exploratory well in the Foz do Amazonas region. The information was initially published by The Globe.
Last Thursday (16), Petrobras reported that Ibama considered the clarifications presented by the company regarding the licensing process for drilling in the region to be sufficient. Representatives from Petrobras and Ibama met on Wednesday (15) to discuss technical points related to the license request.
After Wednesday's meeting, Petrobras stated that it had responded to all requests. "All points were clarified and considered sufficient to proceed with the process," the company said in a statement.
Deadline pressure and risk of losing probe
The lease contract for Petrobras' drilling rig expires on Tuesday, and the equipment is currently parked at the mouth of the Amazon awaiting approval. If the state-owned company is unable to begin operations, it risks losing the equipment and being forced to restart the entire environmental licensing process.
Last week, Petrobras president Magda Chambriard raised her voice regarding Ibama. "If we don't start drilling by the 21st, this rig could be removed from the site. And if that happens and it's replaced by another rig in the future, the licensing process will start all over again."
Billion-dollar costs at stake
The investment for drilling the first well in the mouth of the Amazon is estimated at R$842 million. The state-owned company has already spent R$543 million on the rig rental alone—approximately R$4 million per day. The schedule, therefore, imposes significant financial and operational pressure.
The potential of the Equatorial Margin
The Equatorial Margin is seen by the industry as one of the most promising areas for large-scale oil discoveries. For Petrobras, the region could represent a new energy frontier for the country. Civil society organizations and part of the federal government, however, are resisting the advancement of exploration, citing risks to wildlife, marine ecosystems, and local communities.
