SAO PAULO (Reuters) -Brazil’s environmental agency Ibama greenlit state-run oil company Petrobras to conduct exploratory research by drilling well in the Foz do Amazonas region, near the mouth of the Amazon river, the firm said in a statement on Monday.
The drilling is expected to begin immediately and last around five months, Petrobras said, adding that for the moment they will not be producing any oil.
The area, in deep waters off the shore of the Amazonian state of Amapa, is considered Petrobras’ most promising oil frontier, sharing geology with nearby Guyana, where Exxon Mobil is developing huge fields.
Petrobras is aiming to obtain more geological information through the exploratory research and assess whether there is oil and gas in the area on a commercial scale, it said.
As part of its bid to drill in the ecologically sensitive region, Petrobras conducted an emergency response test in August to assess its preparedness.
Last month, documents showed that Petrobras had failed one part of the test, and was demanded to resubmit its animal-rescue plan.
In Monday’s statement, Petrobras said it had met the requirements established by Ibama, “fully complying with the environmental licensing process.”
Petrobras’ CEO Magda Chambriard celebrated the granting of the license in a statement, calling it an “achievement for Brazilian society.”
“We hope to obtain excellent results in this research and prove the existence of oil in the Brazilian portion of this new global energy frontier,” she said.
Ibama’s decision comes as Brazil prepares to host the global climate summit COP30 this November in the Amazonian city of Belem, where Brazil is expected to call on the international community to accelerate the shift away from fossil fuels.
The contrast between Brazil’s energy policies and its climate leadership ambitions have drawn sharp criticisms from environmental advocates.
(Reporting by Marta Nogueira and Isabel Teles; Editing by Sarah Morland and Brendan O’Boyle)
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