In a significant move, Brazil’s government has greenlit exploratory drilling by Petrobras, the state-controlled oil giant, near the mouth of the Amazon River. The decision, announced on Monday, arrives just weeks before the United Nations climate conference, COP30, set to take place in Belem, where global efforts to curb fossil fuel usage will be a central topic. The Equatorial Margin, a region stretching from Brazil’s border with Suriname to its Northeast coast, is believed to hold substantial oil and gas reserves. Petrobras confirmed that drilling could commence immediately and last up to five months, targeting block FZA-M-059, located 175 kilometers offshore the northern state of Amapa. The company emphasized that this phase involves exploratory activities only, with no oil production planned. The Brazilian Institute of the Environment and Renewable Natural Resources, overseen by the environment ministry, approved the project, which was lauded by Energy Minister Alexandre Silveira. Silveira hailed the Equatorial Margin as pivotal for Brazil’s energy sovereignty, asserting that the exploration would adhere to stringent environmental standards and bring tangible benefits to the nation. This decision follows Brazil’s June auction of several oil exploration sites near the Amazon, despite opposition from environmental and Indigenous groups. The region, while promising, is also considered high-risk due to strong ocean currents and its proximity to the Amazon coastline.
Brazil’s government green-lights oil drilling near mouth of Amazon River ahead of UN climate summit
