Brazil’s majority state-owned multinational corporation, Petrobras, has confirmed that the Equatorial Margin may hold more than 30 billion barrels of oil, citing recent estimates from Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP).
According to Petrobras, this volume and the quality of the oil have sparked interest in the region. Located in the north of the country, between the states of Amapá and Rio Grande do Norte, the Equatorial Margin has an important oil potential. Petrobas said the region offers a series of opportunities to improve the lives of thousands of Brazilians.
“This region has a relevant oil potential, even more so if we consider the recent discoveries made by others in regions close to this border (Guyana, French Guiana and Suriname),” the company said.
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Petrobras noted that the international oil and gas market sees the Equatorial Margin as a promising frontier for development.
“Due to the characteristics of the oil and the estimation of existing volumes, the Equatorial Margin arouses interest not only in the Brazilian industry, but also in the international oil and gas market,” it stated.
Petrobras said it will invest US$3 billion in the Equatorial Margin over the next five years.
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The company plans to drill 15 wells in this period as part of its Business Plan 2025–2029 and Strategic Plan 2050.
“This will allow us to contribute to meeting the growing demand for energy from production carried out with technological investments that guarantee operational safety and environmental care,” Petrobras explained.
