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Brazil's Petrobras receives green light for drilling near the mouth of Amazon River

The Brazilian environmental agency Ibama has given the green light to state-owned oil company Petrobras for exploratory research, including drilling wells in the Foz do Amazonas area, near the mouth the Amazon River, according to a firm statement released on Monday.

Petrobras has said that the drilling will begin immediately and should last for around five months. They also added that at this time, they won't be producing oil.

Petrobras considers the area in deep water off the coast of Amapa to be its most promising oil frontier. It shares geology with the nearby Guyana where Exxon Mobil has developed huge fields.

Petrobras said it aims to gain more geological data through exploratory research, and assess if there is oil or gas in the region on a commercial basis.

Petrobras has conducted an environmental impact assessment as part of its bid for drilling in this environmentally sensitive area.

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Test in August to evaluate its readiness

Last month,

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Petrobras failed a part of the test and had to submit its plan for animal rescue again.

Petrobras' statement on Monday said that it "fully complied with the environmental licensing processes" and met all the requirements set by Ibama.

Magda Chambriard, CEO of Petrobras, celebrated the grant of the license with a press release. She called it "a success for Brazilian society."

She said, "We hope to achieve excellent results in our research and prove that there is oil in the Brazilian part of this new global frontier of energy,"

Ibama made his decision as Brazil prepared to host the global summit on climate change COP30 in November this year, which will be held in the Amazonian town of Belem. Brazil is expected call for the international community's acceleration away from fossil-fuels.

Environmentalists have been harshly critical of Brazil's energy policy and climate leadership ambitions. (Reporting and editing by Sarah Morland, Brendan O'Boyle and Isabel Teles)

(source: Reuters)