Petrobras Strikes Hydrocarbons at the Aram Block Offshore Brazil

After the discovery of the pre-salt Aram block in 2006, around 80-140 hydrocarbon finds were reported annually. However, it started falling in 2013 and the conditions in 2014 worsened as the oil price plummeted globally. The scenario raised concerns about the replenishment of national-proven hydrocarbon reserves in Brazil. As a result, Brazil has been looking for approval from its environmental regulators to approve oil drilling near the Amazon River to finance a transition to green energy. Petróleo Brasile ...