OceanPact participates in IBP ESG Energy and Business Conference

Investments in Brazil’s new exploration frontiers, benefiting local society and creating revenue and jobs, were highlighted in a panel discussion on “Local Development and Exploration and Production in the Equatorial Margin” at the Second IBP ESG Energy and Business Conference.

The event, held by the Brazilian Oil and Gas Institute (IBP) in Rio de Janeiro on May 27 and 28, brought together the oil industry, public officials, academia and the third sector, to discuss ways forward for the environmental, social and governance (ESG) agenda in Brazil.

Petrobras’ general manager for licensing and the environment, Daniele Lomba, who moderated the panel on the first day of the event, argued that diversifying energy supplies will contribute to countries’ economic and energy security.

“Fossil fuels will coexist with low-carbon fuels. If Brazil doesn’t discover new reserves by 2030, it may need to import oil,” she said.

Flavio Andrade, the CEO of OceanPact, said that in order for exploration of the Equatorial Margin to take place safely, we need to look for technological solutions to help us understand the region.

“We’re going through a climate crisis, but we’re still going to need fossil fuels for a while. The energy transition is a toolbox,” he said.

Andrade showed an excerpt from a video about the Amapá Expedition, carried out in 2023 by OceanPact, with the aim of evaluating the best ways to measure marine currents in the Equatorial Margin. During the expedition, the participants studied possible locations to install radar antennas capable of measuring surface currents up to 300 km away. OceanPact is already doing the same type of work in the Campos and Santos basins.

This panel discussion also featured Allan Kardec Duailibe Barros, a professor at Maranhão Federal University and a former director of the National Oil, Natural Gas and Biofuels Agency (ANP); the CEO of TGS do Brasil, João Correa; and the director of the Amazon+21 Institute, Marcelo Thomé de Almeida.

OceanPact sponsored the IBP ESG Energy and Business Conference. OceanPact and EnvironPact directors Érik Cunha, Adriano Ranieri, Ana Lyra and Fernando Borensztein also attended the event.