Ibama Grants Environ License for Gengibre



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Brazil's federal environmental protection agency Ibama has authorized federal energy company Petrobras (NYSE: PBR) and its partners to start drilling the Gengibre prospect.

Gengibre is in the Camamu-Almada basin's BCAM-40 offshore block.

Petrobras operates BCAM-40 through its 35% stake in Gengibre. Brazilian engineering company Queiroz Galvão has a 55% interest in Gengibre and Norse Energy the remaining 10%.

The well in Gengibre will be drilled in roughly 52m of water depth, Norse Energy said in a statement. Total drilling depth is forecasted at around 3,500m.

The main target of the well is to find gas.

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