Existence of oil in Amapá could double Brazilian reserves – News of Brazil

Existence of oil in Amapá could double Brazilian reserves – News of Brazil


Cleber Barbosa
From the Editor

The director of Infrastructure, Energy Transition and Climate Change at BNDES, Luciana Costa, stated on Monday (5) that, to carry out the energy transition, Brazil will still need oil and defended exploratory research in the Brazilian Equatorial Margin, on the coast of Amapá. Costa said that the region’s potential could make the country double its proven oil reserves in the coming decades.

“In the pre-salt, from the approved reserve, we have 14 billion barrels of oil. At the margin, which still needs to be carried out exploratory research, there could be 10 to 25 billion barrels of oil”said Costa, during an interview with EXAME’s Macro em Pauta program.

Costa explained that with the predicted — and natural — decline in oil production in the pre-salt, Brazil needs to open new production frontiers to avoid problems and avoid importing oil with more carbon footprints, such as that produced by Saudi Arabia and Guyana.

“If we don’t produce oil in the Equatorial Margin, we will import it from Saudi Arabia or Guyana, which is doing it on our side. Pre-salt oil, from deep or ultra-deep waters in Brazil, is less carbon intensive, in the process of exploration and production, than oil from the Middle East”he stated. “Therefore, we run the risk of not carrying out exploratory research and then having to import more carbon-intensive oil.”

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The development bank executive also stated, when defending exploration, that it would only begin in four years and would result in competitive prices in a context of energy transition.

Regarding the necessary care for the region, Costa stated that Petrobras has proven technology and experience to explore without causing serious accidents.

“Petrobras has already explored almost 3,000 wells without serious accidents. It is not a company with the CV of BP, in the Gulf of Mexico, for example. Petrobras has the technology and knows how to do it right. We as a society have to demand that it does it right and that there is a redundancy and risk mitigation plan”he stated.

Source: André Martins, reporter for Exame Magazine


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