Petrobras president Roberto Castello Branco said on Thursday morning (28) that the state company should increase its exploratory activity over the next few years. According to the executive, the company will drill up to 58 wells on the horizon by 2025. The number represents an increase of 50% in comparison with the five-year period from 2016 to 2020, according to the president.
The statements were made during an online event promoted by Credit Suisse. Castello Branco also mentioned that the priority of the exploratory activity will continue to be the Santos Basin, but added that there will be bets on other new frontiers, such as the Equatorial Margin.
During the event, Castello Branco once again defended Petrobras' stance in focusing its efforts only on oil exploration and production. The executive believes that oil will still have a wide role in the world, even in the midst of the energy transition. “Most of the things we do on a daily basis would be unviable, were it not for fossil fuels. I do not defend fossil fuels, but rational decisions” , he declared.
The president of Petrobrás also explained why the company does not invest in renewable energy. He claims that the company has no competence in this area and, therefore, prefers to invest in what it knows how to do: produce oil and gas. Other major world oil companies, such as Equinor, BP and Total, are going in the opposite direction, expanding their presence in the renewable energy market.
Source: PetroNoticias
Join our mailing list here
