On Wednesday, the head of Brazil’s environmental agency indicated an imminent decision regarding Petrobras’ request to conduct exploratory studies in the Equatorial Margin region, where both the company and the government are advocating for a drilling license. Petrobras has been pursuing exploration activities in the northernmost part of the Equatorial Margin, near the mouth of the Amazon River.
However, these efforts faced opposition from Ibama, the environmental watchdog, which denied approval in May of last year due to concerns over potential impacts on Indigenous communities and the environment. Since then, Petrobras has awaited a ruling on its appeal from Ibama. Rodrigo Agostinho, president of Ibama, mentioned in an interview with CNN Brasil that discussions between Ibama and Petrobras are ongoing.
Meanwhile, Petrobras’ new CEO, Madga Chambriard, highlighted the significance of new oil frontiers like the Equatorial Margin for the company during her formal installation ceremony. She emphasised the importance of ensuring environmental safety in their exploration endeavors.
Brazil’s Energy Minister Alexandre Silveira, speaking at Chambriard’s installation, expressed the government’s commitment to collaborating with Petrobras and Ibama to establish an environmentally sound pathway for exploration in the region. President Luiz Inacio Lula da Silva has also voiced support for Petrobras’ efforts, emphasizing the country’s interest in not missing out on such strategic opportunities.
Chambriard acknowledged openness to discussions with Environment Minister Marina Silva on the matter but asserted that Petrobras has already fulfilled all environmental requirements set by Ibama. Recently, Ibama requested further studies on the potential impact on Indigenous communities in Oiapoque, the nearest town to the proposed offshore drilling site. In response, Petrobras declined to conduct these additional studies.
The Equatorial Margin offshore region is viewed as Brazil’s most promising frontier for oil exploration, sharing geological similarities with neighboring Guyana, where Exxon Mobil is developing significant oil fields.