Brazil's Petrobras Gets Permit to Drill at Key Offshore Area [BNN Bloomberg (Canada)]
Petroleo Brasileiro S.A. Petrobras American Depositary Shares representing Preferred Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: BNN Bloomberg
Brazil's top environmental agency, Ibama, granted Petrobras the environmental license to research the Potiguar Basin, one of five regions in the so-called Equatorial Margin, according to Mines and Energy Minister Alexandre Silveira, following months of stalemate between the state-controlled oil company and the regulator. Petrobras will begin drilling in the area next month after a rig arrives at the location, the company said via email. The plan is to survey the area to assess the economic viability and extent of the oil discovery made in 2013 at the Pitu well. There's no oil production at this stage. The state-controlled oil giant expects to get an official notice from Ibama on Monday to drill two exploratory wells in the maritime block BM-POT-17, in deep waters of the Potiguar Basin. The first one will be drilled 52 kilometers (32 miles) off the coast. The company has undergone a simulated response to a possible oil spill earlier this month. Petrobras sees the Equatorial Marg
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