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BRAZIL
Without an equatorial margin, Brazil may have to import oil in 2034
Petrobras depends on license to explore the northern region of the country
Published on October 24, 2024 at 11:09 pm
Credit: Tomaz Silva/Agência Brasil
Without oil production on the equatorial margin, an area on the country’s north coast considered the new pre-salt, Brazil may have to import oil again within ten years.
The statement, made this Thursday (24), in Rio de Janeiro, comes from the director of Exploration and Production (E&P) at Petrobras, Sylvia Anjos (photo), and is part of the state-owned company’s campaign to obtain a license to explore the region .
“Time is very critical, in five, six years there will be a drop in pre-salt production and, with that, we could return to being an oil importer in 2034, 2035, if we don’t have discoveries”, he stated. by participating in an open class at the Alberto Luiz Coimbra Institute for Postgraduate Studies and Research in Engineering (Coppe), at the Federal University of Rio de Janeiro (UFRJ).
The equatorial margin covers an area that runs from the coast of Rio Grande do Norte to Amapá. The comparison with the pre-salt is due to the great potential for finding oil reservoirs. However, the exploration is criticized by environmentalists, concerned about possible environmental damage.
Petrobras has 16 wells on the new exploratory frontier, however, it only has authorization from the Brazilian Institute of the Environment and Renewable Natural Resources (Ibama) to drill two of them, on the coast of Rio Grande do Norte.
Ibama denied the license for other areas, such as the Foz do Amazonas Basin. Petrobras asked the institute, linked to the Ministry of Environment and Climate Change (MMA), for a reconsideration and is awaiting a decision.
Sylvia contextualized that Brazil has been self-sufficient in oil since 2006. Currently, 81% of national production is attributed to the pre-salt. As part of the oil cycle is the reaching of a production peak followed by a decline in the number of barrels extracted, Petrobras seeks new areas of exploration so that there is no decline in oil and gas production.
According to the director, Petrobras resolved Ibama’s requirements in order to obtain an exploration license, including the creation of a center to welcome animals in the event of an oil spill; the guarantee that there will be no excess capacity at Oiapoque Airport, in Amapá; and simulation of environmental emergency exercises.
Sylvia also criticized what she called “scientific fake news”, citing the information spread that there are corals at the mouth of the Amazon River. According to her, studies have already shown that coral cannot coexist in seas that are not absolutely transparent and free of clay.
“There is no coral at the mouth of the Amazon, that is not true. There are rocks similar to corals”, she denied, adding that, despite the name Foz do Amazonas Basin, the wells are 540 kilometers from the coast, far from the mouth.
The executive also stated that the region has an intense flow of ships, that is, it is not an isolated place. “We don’t want to drill in a maritime sanctuary where nothing happens,” he guaranteed.
Ibama did not indicate the date on which there will be a response to Petrobras’ request for reconsideration. The state-owned company requested the National Petroleum, Natural Gas and Biofuels Agency (ANP) to suspend the deadline for carrying out exploration in the Foz do Amazonas Basin, in order not to waste concession time without a license.
After participating in the open class at Coppe/UFRJ, the E&P director told journalists that she will feel “frustrated” if authorization from Ibama does not come out this year. “I’m already frustrated.”
Despite the feeling, she demonstrated positive expectations. “We are doing everything requested to obtain the license. We are confident”, he assured.
Even if the license were granted today, Petrobras does not believe that drilling would begin in 2024. It would take around three months, including time to clean, prepare and transport the drilling rig to the region.
The fact of not obtaining the license is an operational loss for Petrobras, as, in addition to delaying possible oil production, there is expenditure on operations that were not carried out.
“If you rent a probe [de perfuração] which costs more than R$600,000 per day… we had it stopped for two months”, he lamented.
Although the equatorial margin theme has gained notoriety in recent years, Petrobras’ license request was made in 2013.
Sylvia revealed that, on the coast of Rio Grande do Norte, where Petrobras obtained authorization from Ibama, two wells are already being drilled. However, there is still no opinion on economic viability, that is, whether the amount of oil found is profitable.
“All oil matters. So, we will look for technology to find solutions so that we can produce, even if it is not the pre-salt of millions of barrels”, he stated.
The time required between the discovery of a reservoir and the extraction of oil is around six to seven years, explained the executive.
She also said that Petrobras is looking for suppliers who can reduce the price charged for production platforms. According to her, the cost offered by an FPSO (platform ship) was R$4 billion, which makes production profitability unfeasible.
According to the director of Petrobras, some large oil companies express interest in forming partnerships with Petrobras, if oil reservoirs are found on the equatorial margin.
“All companies are keeping an eye on Brazil, however, they have lost hope with the license issue. Then, [se a Petrobras conseguir] everyone is interested again”, he specified.
However, she stated, Petrobras has enough know-how to carry out exploratory campaigns without partnerships.
The director understands that there is no contradiction between the orientation of the country’s environmental policy to reduce the emission of greenhouse gases, responsible for global warming, and the interest in oil exploration. She explained that Petrobras uses technologies that mean the company’s oil is produced with less carbon dioxide (CO₂) emissions.
Furthermore, he noted that oil will continue to be in demand around the world for the coming decades, both as a source of energy and as raw material for the petrochemical industry, which produces a wide range of items, in addition to plastic.
“Which oil will be present? The one that is less emitting. In this sense, pre-salt emissions amount to seven to nine kilos of CO2 per barrel. The average in the world is 17 kg, and some huge fields, more than 20 kg”, he specified, stating that Petrobras’ production will reach the so-called net zero (negative carbon emission balance) before 2050.
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