Operators see adverse scenario in Foz do Amazonas Basin

11/16/18

Based on seismic, oil companies estimate that the basin presents risks and high exploratory costs

 

High exploratory risk and wells with high costs, amounting to US $ 120 million. The little encouraging scenario was estimated by operators of exploratory blocks in Foz do Amazonas from the results of seismic surveys in the basin, one of the great promises of the 11th round of the ANP, held in 2013.

In the face of potential adversities, it is commented in the market that executives of oil companies that have acquired assets in the region happy of the fact that Ibama has not issued a license for the drilling campaigns in the region until now.

The chance of success is low, and the fine for non-compliance [of the minimum exploratory program] can reach $ 40 million, reports one source.

Among these companies are BP Energy, Queiroz Galvão Exploration and Production (QGEP) and Total E & P, which commissioned multi-client seismic for Foz do Amazonas, in addition to presenting a joint environmental study on the activities in the region to Ibama.

The good news is that, on the other hand, the seismic surveys carried out in the Pará-Maranhão and Ceará basins, where Total and QGEP are also active, gave good indicators. This has led the operators to request IBAMA to change the order of priority of the licenses in the region.

Asked, QGEP said only that it awaits Ibama’s demonstration regarding the Environmental Impact Study (EIA) in Foz to continue licensing. Regarding the activities in the Pará-Maranhão Basin, the company stated that the farm-out process for the blocks is underway, as well as the drilling licensing process.

Total merely stated that the licensing processes in the basins of Foz do Amazonas and Ceará continue to proceed normally.

BP did not respond to BE Petróleo’s contact.

Seismic in the Foz do Amazonas

In addition to these companies, Brasoil Manati Petroleum Exploration, acquired by PetroRio in 2017, and Colombia’s Ecopetrol.

In June of this year, PetroRio submitted to IBAMA a request for a 3D seismic survey in the exploratory block FZA-539. Ecopetrol does not have records of processes in the environmental body system.

Also in the initial phase of licensing seismic acquisition in Foz requests made by CGG (“Project Foz do Amazonas Phase II”); PGS (“Seismic Survey in the Foz do Amazonas Phase II Basin”); and Seaseep Oil Data (“2D Seismic Foz do Amazonas”).

Source: Brazil Energy

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