Petrobras bets on the Equatorial Margin as a new oil horizon

Different environmental groups have denounced the danger to the coral reefs in the region, of great biological richness and very recently discovered, in the event of an accident in oil operations.

RIO DE JANEIRO, BRAZIL - The Brazilian oil company Petrobras will invest 1 billion dollars in the next few years in the drilling of eight exploratory wells in its concessions in the so-called Equatorial Margin in the hope of discovering a new and promising oil horizon, its leaders said Thursday.

"We have planned in our Business Plan to invest up to $2.025 billion to drill up to eight wells in that region, but we still don't have all the environmental licenses," said Petrobras Exploration and Exploitation director Fernando Borges at a press conference.

The Equatorial Margin comprises the . . .

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