Petrobras Plans Equatorial Margin Drilling Program

State-run company will direct $2 billion towards frontier drilling in the area.

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Petrobras is preparing to drill the first of 14 planned wells at South America’s new deepwater frontier, the Equatorial Margin at its Northern maritime border, a company executive told the World Petroleum Congress in December.

Petrobras plans to invest $2 billion in exploration at the Equatorial Margin through 2026, Reservoir Executive Manager Tiago Homem said. The company estimates an overall investment of $2.5 billion in seismic activities over the same period.