Opinion: Equatorial Margin safe in Petrobras hands

Petrobras has announced the discovery of oil accumulation in the ultra-deep waters (2,196m) of the Potiguar Basin, a section of the Equatorial Margin that has stirred controversy. This significant find is situated between the states of Ceará and Rio Grande do Norte in the Northeast of Brazil, marking the second discovery within the Basin this year—the first occurring in January roughly 24 kilometers away. Petrobras, serving as the operator for both concessions, maintains a complete ownership stake in each.

“Petrobras has extensive experience in drilling almost 3,000 wells in deep and ultra-deep-water settings, with a consistent track record of operations devoid of adverse environmental impacts”; Genesio Ramos, Offshore Projects Lead of WSB Advisors, commented on these developments.

“This discovery arrives amidst a period of political turbulence within Petrobras accentuated by discussions around the potential change of its president, Jean Paul Prates, albeit Ministers Haddad (Economy) and Silveira (Energy) moderating in favor of Prates. The Potiguar Basin discoveries adds a positive note”; Alexandre Vilela, CEO of WSB.

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