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Minerals Report - International Seabed Authority

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Geologists foresee that Brazil has a great potential for new discoveries<br />

of oil and natural gas. Deep and ultra deep waters shall contain 60 % of this<br />

potential.<br />

Campos Basin occupies a relevant position relatively to the geologic<br />

potential of the country because of the fact that 60 % of it shall be in deep and<br />

ultra deep waters. But if one separates the potential according to the type of<br />

fluid, different tendencies will be seen. While the liquid (oil and condensate)<br />

shall be discovered mainly in Campos Basin, the natural gas of the future shall<br />

come from other basins.<br />

Due to present forecasts, exploratory activities face several challenges.<br />

Regarding technology, they require the intense use of 3D seismic survey and<br />

the drilling of special wells. Until recently, investments in exploration were<br />

directed for the search of oil. Nowadays, because of the new guidelines to<br />

increase the share of natural gas in the Brazilian energy matrix, the search for<br />

non-associated natural gas in already explored plays has begun, both onshore<br />

and offshore. Associated gas is going to be searched in deep waters in other<br />

basins than Campos, and in ultra deep waters, chiefly in Campos Basin. As a<br />

policy of Petrobrás for the new scenario of the petroleum industry in Brazil,<br />

many exploration projects will be implemented in partnerships with<br />

companies that bring value to them.<br />

3. Framework for Brazil’s Regulations<br />

The new legislation of the Brazilian petroleum and natural gas sectors,<br />

which reached its inaugural landmark with the Constitutional Amendment<br />

number 9, dated November 9, 1995, was introduced into the national juridical<br />

arrangement with the objective of consolidating, within the activities it deals<br />

with, the modernisation of the Brazilian State. Such modernisation aims at<br />

qualifying the Brazilian society to quickly make use of the world<br />

technological, economical and social advances, thus, improving the quality of<br />

life of the Brazilian people. Therefore, we avoid the domestic isolation in a<br />

world where the barriers among the nations are gradually being fragmented<br />

and where there is a disorder between the progress of Brazil and the one of<br />

the develop countries.<br />

INTERNATIONAL SEABED AUTHORITY 823

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