Ibama Okays Seismic Studies in Campos, Santos Block

Brazil's federal environmental protection agency Ibama has authorized geological study companies to carry out seismic work in five offshore blocks in the Campos and Santos basins, Ibama said in two separate statements.

Geological study company CGG do Brasil was cleared to carry out seismic studies in the BM-C-26 and BM-C-27 blocks as long as it meets the 15 requirements set by Ibama.

The requirements include implementing emergency plans, monitoring sea life in the area of operations and warning all shipping before the start of studies.

Federal energy company Petrobras (NYSE: PBR) has the license to explore the blocks, which it won in the 5th exploration licensing round in 2003.

Ibama also cleared PGS Investigacao Petrolifera to carry out 3D seismic studies in three blocks in the Santos basin: BM-S-50, BM-S-52 and BM-S-53. PGS must fulfill fewer requirements than the CGG studies.

Petrobras has 100% of BM-S-53 and 60% of BM-S-50 and BM-S-52. The three blocks were awarded in the 7th exploration licensing round in 2005.

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