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Brazil agency nears choice in the middle of Petrobras pressure to explore overseas Equatorial Margin

The head of Brazil's ecological agency stated on Wednesday that he anticipates a choice soon on state-owned oil business Petrobras' demand to conduct exploratory studies in an area called the Equatorial Margin, as both the business and the federal government push for a drilling license.

Petrobras has been looking for to explore the northern most part of the Equatorial Margin, near the mouth of the Amazon River, however got a traffic signal from environment guard dog Ibama in May of in 2015 due to concerns over the possible influence on Native communities and the environment. Ever since, Petrobras has been waiting for the agency to rule on an appeal.

Ibama and Petrobras groups are talking, Ibama president Rodrigo Agostinho said during an interview to CNN Brasil.

Petrobras' brand-new chief executive, Madga Chambriard, said on Wednesday that brand-new oil frontiers such as the Equatorial Margin are essential to the company. At a ceremony to officially install her as CEO, she required environmental safety on their expedition.

Brazil's energy minister Alexandre Silveira said during Chambriard's installation that the federal government plans to work with Petrobras and Ibama to build an ecologically safe course for the expedition to proceed.

Brazilian President Luiz Inacio Lula da Silva has likewise been supportive of Petrobras' push to explore the area, saying the country can not quit such a chance.

Chambriard said that she is open to talking to Environment minister Marina Silva about the topic, however said that Petrobras has actually satisfied all environmental demands made by Ibama.

Last month, Ibama demanded additional research studies associating with the possible effect on Indigenous individuals residing in Oiapoque, the town closest to the website of the proposed overseas drilling. A. week later, Petrobras

stated it would refrain from doing the studies

.

The overseas area is seen as Brazil's most promising. frontier for oil exploration as it shares comparable geology with. nearby Guyana, where Exxon Mobil is. establishing huge fields.

(source: Reuters)