Seismic Costs in Brazil Could Rise 30% on New Regulations

The cost of seismic studies in Brazil could rise as much as 30% as a result of more detailed environmental licensing procedures that the government is proposing, O Globo news service quoted Cosme Peruzzolo, the Brazil representative for international geophysics association IAGC, as saying.

Brazil's federal environmental protection agency Ibama plans to change regulation to require that seismic study licenses be obtained for each individual project instead of whole sedimentary basins.

The seismic study ships are leased from abroad for US$60,000 to US$120,000 a day and their route is determined by results obtained during the studies, making it difficult to predict the exact area of the project for licensing, Peruzzolo told O Globo news service.

Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours