Petrobras: “We lost 10 years” by not exploring Equatorial Margin
Petrobras’ CEO Magda Chambriard criticized the Brazilian Institute for the Environment and Renewable Natural Resources (IBAMA) for the delay in authorizing oil exploration in the Equatorial Margin, an area off the Brazilian coast identified as the new "pre-salt" due to its oil production potential."We've already lost ten years," lamented Chambriard, referring to the bidding process for exploring the region that took place in 2013.The Equatorial Margin extends from the coast of Rio Grande do Norte state to Amapá state. Potential oil exploration in this region, which includes the mouth of the Amazon River, has drawn criticism from environmentalists concerned about possible environmental damage.Petrobras is authorized to drill off the coast of Rio Grande do Norte, but Ibama has rejected...