Brazil marks today a historic step in its journey to maintain oil self-sufficiency and advance its energy security, while creating new opportunities for its industry and improving its socioeconomic indicators. The license for oil exploration in the Equatorial Margin has been granted.

Petrobras, for decades the driving force of the sector and a catalyst for major progress in the Brazilian economy—together with the national oil industry supply chain—has rigorously met all requirements and conditions for obtaining this license.

The energy transition continues along its desirable and inevitable path, yet oil will remain a key component of the global energy mix for many decades to come. It plays a fundamental role in overcoming the challenges of this transformation.

Oil production and the industrial development it stimulates are essential drivers for Brazil to sustain its current pace of creating highly skilled and well-paid jobs. This is particularly relevant for the Northern and Northeastern regions, which will be strongly and positively impacted by this national achievement.

We are racing against time, as Brazil has not drilled wells in new exploratory frontiers since 2018. However, Petrobras and Brazil’s oil and gas supply chain have already overcome challenges just as difficult and significant. We will overcome them once again, sustaining the momentum of growth and socioeconomic development in Brazil.

Telmo Ghiorzi
Executive President, ABESPetro