Government signs exploration contracts in the Campos and Santos basins

AUCTION

Auction took place in December 2022 and raised BRL 961 million

This Wednesday (5) the government signed contracts for the exploration of four oil blocks in the Campos, in Rio de Janeiro, and Santos, in São Paulo, basins. The minimum investment is R$ 1.4 billion. The auction took place in December last year and raised BRL 961 million.

The following were awarded: Água-Marinha and Norte de Brava, in the Campos basin, and the Bumerangue and Sudoeste de Sagitário blocks, in the Santos basin.

According to the executive secretary of the Ministry of Mines and Energy, Efrain Cruz, Brazil is expected to increase oil production by 109% by 2035. In addition, the secretary stated that the ministry will act with a firm hand to explore the Equatorial Margin , located between the states of Amapá and Rio Grande do Norte.

The drilling license for the first well, at the mouth of the Amazon River, was denied by Ibama.

“The Ministry of Mines and Energy does not give up on maintaining the discussion based on the balance between sustainability and development. We cannot do without the equatorial margin, we are going to act with a firm hand so that we can, fulfilling all the environmental steps, explore the equatorial margin, because there Brazilians can have riches”.

Brazil is the ninth largest oil producer in the world. The expectation is that in 2030 the country will reach the peak of production, jumping from the current 800 thousand barrels to almost three million barrels per day, which represents half of the national production and two thirds of the pre-salt.

In the next decade, US$ 72 billion will be invested in production projects, with the estimate being that the Union will raise US$ 344 billion.

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