Sylvia Anjos, Chief Upstream Officer of Petrobras $PETR3 (-1,18 %)
$PETR4 (-1,22 %) explained that the company's oil and gas projects are designed to withstand price fluctuations, even in the face of the recent sharp drop in Brent crude oil. "Our projects are still stable even at a price of just 28 dollars a barrel," she said.
Speaking at a Getulio Vargas Foundation (FGV) event in Rio, Ms. Anjos stressed that price fluctuations in the oil market were commonplace and Petrobras had not been forced to revise its investment plans as a result. "Crises are not the exception - they are the rule. We only experience a few moments of calm between them," she said.
Regarding Petrobras' plans to explore offshore oil reserves in the Foz do Amazonas region, Ms. Anjos reiterated the company's willingness to work safely in the environmentally sensitive area. "We need to evaluate the potential of this region - we cannot withhold it from the country. We have the necessary infrastructure to carry out drilling," she said.
On Saturday, Petrobras announced the completion of a wildlife rehabilitation center in Oiapoque, Amapá, and received an operating license from the state's environmental authority. The company is still awaiting an inspection by the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA) before it can begin full operations.
