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Petrobras Starts Drilling Well in Equatorial Margin Region – Bloomberg

The Petrobras ODN II NS-42 drillship docked for maintenance, before heading to the Equatorial Margin, off the coast of Rio de Janeiro in October.Photographer: Dado Galdieri/Bloomberg
Company announced drilling of Pitu Oeste well on Saturday. Push to explore region caused backlash from environmentalists. The Petrobras ODN II NS-42 drillship docked for maintenance, before heading to the Equatorial Margin, off the coast of Rio de Janeiro in October. (Dado Galdieri / Bloo)

Andrew Rosati, Bloomberg News

EnergiesNet.com 12 27 2023

Brazil’s Petroleo Brasileiro SA began drilling on Saturday in the so-called Equatorial Margin as the state oil company looks to expand production in the promising and ecologically sensitive offshore region.

The drilling of the Pitu Oeste well, located 53 kilometers (33 miles) off the coast of the state of Rio Grande do Norte, is expected take three to five months as Petrobras seeks more geological information about the area.

The push to explore the basins in and around the Equatorial Margin, which extends along the country’s northern coast, has already caused backlash from environmental activists and President Luiz Inacio Lula da Silva’s allies.

Read more: Brazil Moves to Allow Amazon Oil Drilling, Marring Lula’s Summit

While Lula, as the 78-year-old leftist is known, has placed protecting the rain forest at the top of his agenda, his government also called for more resource extraction to fund its social programs.

Petrobras previously said it had received permission from Brazil’s environmental regulator Ibama to begin drilling two wells in the deep-water region.

–With assistance from Mariana Durao.

bloomberg.com 12 23 2023

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