Petrobras has obtained approval to clear corals from its drilling vessel for operations in the Foz do Amazonas region, pending a long-sought license for exploration. Supervised by Ibama, the coral clearance is crucial as Petrobras seeks to begin drilling this year, facing previous setbacks and environmental scrutiny.
Brazil’s national oil company, Petrobras, has received authorization from the environmental agency, Ibama, to remove corals from the drilling vessel designated for operations in the Foz do Amazonas region. This approval, granted on February 10th, is part of Petrobras’s efforts to conduct drilling off the northern coast of Amapa, contingent upon securing a license for exploration in this ecologically sensitive area.
The corals set to be cleared are classified as potentially invasive should they be moved to another ecosystem, necessitating a supervised removal process overseen by Ibama. Following the clearance process in Rio de Janeiro, the vessel is anticipated to head towards the Equatorial Margin, recognized as a significant area for oil exploration by Petrobras, assuming the company obtains the necessary drilling permits.
Petrobras aims to commence drilling within this year, pending the approval of its license. Recent challenges arose when Ibama’s technical team recommended denying a drilling license for another well in the Equatorial Margin, an area sharing geological characteristics with Guyana where Exxon Mobil is actively exploring.
During the CERAWeek conference in Houston, Petrobras’s exploration and production head, Sylvia dos Anjos, expressed optimism regarding the forthcoming license. However, it is noteworthy that in May 2023, Ibama had rejected a previous request for an offshore drilling license for this region, citing environmental concerns, although an appeal from Petrobras is currently under consideration.
In summary, Petrobras has secured necessary approval for coral clearance from a drilling vessel intended for operations in the Foz do Amazonas region. This step is critical for potential drilling activities, pending further licensing amidst environmental scrutiny. The company’s optimism reflects its commitment to exploring the promising Equatorial Margin while addressing environmental concerns raised by regulatory bodies.
Original Source: www.tradingview.com
