In his interview with the Financial Times, Prates said that securing more deposits was vital to preparing for the energy transition. Petrobras’ decision to drill some 175km from Brazil’s northern coastline was rejected by Brazil’s environment agency, as the deepwater block is in an area of the Atlantic Ocean that was deemed “ecologically rich and fragile”, notes the paper.
Jean Paul Prates, the new CEO of Brazilian state-owned Petroleo Brasileiro S.A. (Petrobras), is seeking to replenish its oil reserves amid opposition to the company’s plans to set up an exploratory well off the mouth of the Amazon River.
To not do so would be a “fatal error”, stressed Prates, who added that the move would spell the death of the company in 30 years. Prates joined the company as its CEO on Jan 26. The former senator was chosen by Brazilian president Luiz Inacio Lula da Silva, who took office in January.
