The study says the block on the equatorial margin contains 5.6 billion barrels of oil

Minister of Mines and Energy, Alexander Silveirareported on Friday (September 29, 2023) that an internal study of Petrobras He points out that the block in which the state-owned company is seeking an environmental license to explore in the tropical margin has the capacity to contain 5.6 billion barrels of oil. This is a potential 37% increase in Brazil’s oil reserves, which currently stand at 14.8 billion barrels.

Silveira pointed to the FZA-M-59 block, which although located in the Foz do Amazonas Basin, It is not close to the mouth of the Amazon River. The area where the well will be drilled is 500 kilometers away from the mouth. According to the minister, although the Equatorial Margin consists of 5 sedimentary basins and 42 massifs, this is the most promising.

He stated that neighboring countries, such as Guyana and Suriname, have already found oil in that region. As it turns out Power360Since 2015, Guyana has discovered in a small part on the tropical margin the equivalent of 75% of Brazil’s total oil reserves, including the entire oil reserve.

“This Amapa block is the closest to Guyana and Suriname – which are discovering oil in the area – and it is the area with the greatest potential. There are internal studies by Petrobras that indicate that this particular block has the potential to contain more than 5.6 billion barrels of oil. These are geological studies Geophysics leads us to believe that this oil can generate income-generating job opportunities in Brazil.” He said.

Petrobras is seeking environmental approval to drill wells in the area and continue research to prove reserves and verify whether there is a commercial viability for production in the area. The license was refused in May before Ibama (Brazilian Institute of Environment and Renewable Natural Resources).

The authorization refers to pre-operational testing to analyze Petrobras’ ability to respond to a potential spill. The oil company sent more documents and requested a new evaluation by the institute. However, there is still no deadline for this analysis.

Alexandre Silveira said on Friday that he was convinced that the government would reach a good agreement on the license, on the basis of dialogue, and stressed that all environmental conditions imposed for exploration would be strictly adhered to.

The Brazilian part of the equatorial margin consists of 5 sedimentary basins, a type of rock formation that has allowed sediments to accumulate over time. The basins are:

• Foz do AmazonasIt is located in the states of Amapa and Pará;
• Barra MaranhãoIt is located in Barra and Maranhão;
• BarreirinhasLocated in Maranhão;
• CiaraIt is located in Piauí and Ceará;
• PotiguarLocated in Rio Grande do Norte.

There are 42 blocks on the equatorial margin given by Afghan National Police (National Petroleum and Natural Gas Authority). The area currently has the largest volume of exploration blocks in the country.

The exploration phase consists of studies and drilling wells to prove potential oil and gas reserves. After this stage, the commercial feasibility of production is analyzed, according to the size of the reserve. Only then does production begin in the fields.