Drilling for oil at block FZA-M-059, located at the mouth of the Amazon River, may not proceed as projected for Petrobras, according to a statement released yesterday. Initial reports had claimed that the $30mn operation would receive an environmental license within 6 months, but the Brazilian state oil company revealed that the news was false. Petrobras had submitted an earlier request to the Brazilian Institute for the Environment and Renewable Natural Resources on 25 May to reconsider the rejection of the necessary license. The exploration was intended to confirm the presence of oil at a depth of 3,000 meters in deep waters off the coast of Brazil.
Engaging Piece:
Concerns Raised over Petrobras’ Drilling Plans in Equatorial Margin
The Amazon Rainforest, the largest tropical rainforest globally, is at risk as Brazilian state oil company, Petrobras, pushes for environmental clearance to drill for oil off the country’s coast. The Amazon houses biodiversity that is critical to the survival of global ecosystems and is home to several indigenous communities who continue to resist and raise concerns over oil exploration in their habitats.
Despite the objections, Petrobras is determined to proceed with drilling for oil in block FZA-M-059, located at the mouth of the Amazon River. The company had submitted a formal request to the Brazilian Institute for the Environment and Renewable Natural Resources, Ibama, last May, but it was denied.
However, the oil giant contested the decision, stressing its commitment to responsible oil exploration that will have no adverse impact on local communities and the environment. The company recently highlighted that it is doing all it can to obtain clearance from the relevant authorities to begin drilling in the Amazon Delta, which it described as Brazil’s new energy frontier.
Environmental experts, meanwhile, have registered grave concerns over the potential risks the drilling poses to marine life along the Brazilian coast. Environmental scientists recently conducted a research study revealing that marine life almost disappeared from 335km of sea polluted by an oil spill that occurred off Rio de Janeiro’s coast in 2019. The discovery underscores the adverse impact drilling activities could leave in areas where marine life is the main source of livelihood for communities.
Although Petrobras pledged to undertake the drilling in adherence to environmentally friendly practices, critics are skeptical, as the company has been grappling with corruption allegations. Despite the inclusion of independent directors on its board, the company has struggled to quell allegations that it has driven Brazil into debt by involving itself in bribery, fraud, and multiple scandals.
A public hearing to discuss Petrobras’ proposed drilling plans in the Amazon Delta has been slated for the coming weeks, with experts and communities divided on the potential gains and risks of petroleum exploration in the region.
Summary:
Petrobras’ plans to drill for oil in block FZA-M-059, located at the mouth of the Amazon River, have been cast into doubt after the company confirmed that reports it would obtain the environmental license within six months were false. Petrobras had submitted a request to the Brazilian Institute for the Environment and Renewable Natural Resources to provide clearance for the $30mn operation, but the agency denied it. The state-run oil company contested the decision, stressing its commitment to environmentally responsible oil exploration that would have no adverse impact on local communities and the environment. Environmental scientists, however, warn that this activity poses a severe risk to marine life along the Brazilian coast, with communities that depend on this ecosystem’s viability particularly affected. A public hearing to discuss Petrobras’ proposed drilling plans in the Amazon Delta is scheduled to be held soon, with experts and communities debating the potential risks and advantages of petroleum exploration in the region.
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Petrobras (PETR4) reported this Wednesday (31) that the information that it expects to obtain the environmental license to drill a well in Foz do Amazonas within six months is false.
On May 25, the state company submitted to the Brazilian Institute for the Environment and Renewable Natural Resources (Ibama) the request for reconsideration of the decision to reject the environmental license for the drilling of a well in block FZA-M-059, located at the mouth of the Amazon River.
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According to the company, the objective is to verify the presence of oil in deep waters at a depth of approximately 3,000 meters.
“Petrobras remains committed to the development of the Equatorial Margin, Brazil’s new energy frontier, which encompasses five offshore basins between Amapá and Rio Grande do Norte. In this sense, the company has been doing everything possible to obtain this drilling license in the FZA-M-059 block, where it undertakes to operate safely and with full respect and care for the environment and the population of the region,” a statement said. . .
Finally, the oil company reaffirmed that “it is prepared to develop activities in the Equatorial Margin with full responsibility, where it intends to use all its operational knowledge and the necessary technologies to guarantee a safe operation.”
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Petrobras (PETR4) nega que esperar obter licença para explorar Foz do Amazonas em até 6 meses
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