Brazil’s Petrobras Gets Permit to Start Drilling at Key Offshore Area
(Bloomberg) — Petroleo Brasileiro SA received a permit to research oil in a promising offshore region in Brazil’s Northeast as the energy giant seeks to open up new basins to...
Brazilian state-owned oil and gas company Petrobras has signed a letter of intent with Equinor, the Norwegian multinational energy company, to expand their cooperation in assessing the technical, economic, and environmental feasibility of seven offshore wind energy projects off the Brazilian coast.
The projects have the potential to generate up to 14.5 GW and are expected to advance Brazil’s energy transition.
The agreement expands the partnership signed between the two companies in 2018, which initially covered two wind farms: Aracatu I and II, located on the coastal border between the states of Rio de Janeiro and Espírito Santo.
the new agreement provides for an assessment of the viability of five additional wind farms: Mangara, Ibitucatu, Colibri, Atobá, and Ibituassu, all located on the Brazilian coast.
“Equinor and Petrobras have a long history of successful partnership,” says Anders Opedal, CEO in Equinor. “We are happy to expand our collaboration to renewables, enabling a broad energy offering in Brazil. Together we are actively engaging to contribute to the realization of offshore wind and Brazil’s energy transition, by creating the necessary initial conditions for renewables energy to develop in a sustainable way.
Equinor has been conducting business in Brazil since 2001 and has a diversified oil and gas portfolio in the country, with licenses under development and in production such as Bacalhau and Peregrino. In renewables, Equinor owns the Apodi Solar plant and is partnering with Scatec and Hydro Rein to develop the Mendubim solar project.
Petrobras has set short-term emission reduction targets and is aiming for net-zero greenhouse gas emissions from activities under its control by 2050. Offshore wind is one of the priority segments for in-depth studies in Petrobras’ Strategic Plan for the period from 2023 to 2027.
“This agreement will pave the way for a new frontier of clean and renewable energy in Brazil, taking advantage of our country’s significant offshore wind potential and boosting our trajectory towards the energy transition,” said Petrobras president and CEO Jean Paul Prates. “We will combine our world-renowned offshore technological innovation capacity and our experience in the Brazilian electricity generation market with Equinor’s expertise in offshore wind projects in several countries. It is worth mentioning, however, that the phase is for studies and the allocation of investments depends on in-depth analyzes to assess their viability, in addition to regulatory advances that will allow the authorization processes for the activities, to be carried out by the Union.”
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