O IBAMA requested additional information about the Petrobras (PETR3; PETR4) to drill in the Foz do Rio Amazonas Basin, off the coast of Amapábefore authorizing a long-awaited emergency drill in the area seen by the oil company as the newest and most important exploratory frontier in the Brazilsaid the president of the federal environmental agency to Reuters.
The emergency drill, which is expected to last about three days, aims to assess how Petrobras would be prepared to act in the event of a major leak in the region, with little known geology and rich in ecosystems. The oil company expects to obtain the drilling license soon.
Ibama’s request for more information about the project, however, frustrated Petrobras’ expectations for the start of the simulation soon, said a source close to the company, who previously considered the possibility of the test starting this Monday.
According to a document seen by Reuters, the company told Ibama that it had already accumulated a cost of 290 million reais just with the mobilization for the test, activated since December 18.
The environmental body, on the other hand, assesses that very sensitive issues, such as Foz do Amazonas, cannot be defined according to business expectations and deadlines, highlighted the president of Ibama, Rodrigo Agostinho.
He commented that the final date for the test was not set because Petrobras did not deliver all the necessary documents in the authorization process, and that the test will be scheduled as soon as Petrobras sends them.
“Initially, Petrobras wanted to do it during Carnival and it didn’t work out. It is obviously a very sensitive region, and Ibama treats it as a great priority, but it still has no definition about the license or term”, highlighted Agostinho.
“The simulation is a stage, the teams will still look into all the documentation, you can, yes, ask for more data”, he added, recalling that the previous government “did not carry out a technical assessment of the entire region, which should have been made, which makes it difficult to assess the situation so far”.
He stressed that “Ibama has its time” and “is not going to issue leave in a hurry because of pressure from anyone, neither on one side nor on the other”.
Agostinho also said that there is no “conflict or political dispute”, denying that the positions of the Minister of the Environment, Marina Silva, influence the body’s decision. She has already said that exploration of Foz do Amazonas is “highly impactful” and that it must have a “strategic” environmental assessment.
For Petrobras, the operation already adds up to delays since the end of last year, when the company was already ready to carry out the work at the request of Ibama, impacting a daily cost of 3.4 million reais for the company since then, while issues on environmental licenses are not resolved, according to a close source and documents from the oil company.
millionaire cost
The advance of exploration in the area, auctioned in 2013, has been undefined for several years. Petrobras’ mission to obtain the license in Foz do Amazonas was embraced after giants such as BP and TotalEnergies gave up on assets, even after investments in studies and initial activities, due to difficulties in obtaining licenses for drilling.
In a presentation made to a group of representatives from Ibama, the Ministry of the Environment and the Ministry of Mines and Energy last week, Petrobras pointed out that the structure for carrying out the simulation has been ready since December 18, as requested by Ibama, resulting in accumulated cost of around 290 million reais, due to the mobilization of teams and equipment, according to a document seen by Reuters.
The mobilization involved rig, vessels, aircraft, contracts with port, airport, among other issues.
Petrobras said, before the manifestation of the president of the environmental institute to Reuters, that the date for the simulation “will be defined shortly with Ibama and its duration will depend on the scenario established by the agency”.
Reuters returned to Petrobras after the president of Ibama reported that the company had not delivered all the necessary documents, but did not get an immediate response from the company on Monday.
Last week, Petrobras representatives also said at the meeting with Ibama that the non-issuance of the operating license will make the last exploratory frontier in the country unfeasible. For the oil company, the Equatorial Margin, which encompasses the region from the coast of Rio Grande do Norte to Amapá, is strategic for Brazil, and the denial of the license will discourage investments in the North and Northeast regions and will lead to the massive exit of operators in these regions.
The date for carrying out the simulation this Monday had been verbally signaled by Ibama to Petrobras, but it was not confirmed.
The person connected to Petrobras also added that the topic “became a tug of war” with the Minister of the Environment, Marina Silva, who would be offering resistance to the advancement of exploration in the region, a “political dispute” that the president of Ibama denied that it existed, in an interview with Reuters.
At the meeting with government agencies last week, Petrobras also pointed out that it honored the premises required by Ibama and that the agency continues to present new demands, two of which were presented this month, which deal with aircraft routes and assistance to fauna.
The president of Ibama reiterated that carrying out the simulation does not guarantee progress in exploration in the region.
The oil company has been working for some time to open up the basin as a new oil exploration frontier, in a region close to Guyana, where Exxon Mobil has made important discoveries and many wells have been drilled.
The president of Petrobras appointed by President Lula and who took office in January, Jean Paul Prates, has publicly supported the advancement of exploration on the Equatorial Margin.
Petrobras’ current business plan, made under the leadership of the previous management, foresees investments of US$2.94 billion by 2027, while seeking ways to replenish reserves and avoid the decline in future production.
Source: Moneytimes
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