Petrobras faces $34-million cost as drillship sits idle in Foz do Amazonas

Petrobras has racked up 180 million reais ($33.7 million) in costs to keep a drillship on standby in the Foz do Amazonas basin, according to a recent Reuters report.

The report cited a company source and a local union official, who indicated that Petrobras is awaiting a regulator’s decision on a drilling request.

The NS-42 drillship arrived in August at its designated location off the coast of Amapa state, in northern Brazil, and has a daily cost of 4 million reais ($748,433), according to the Brazilian oil workers’ federation FUP and the source.

Petrobras used the ship in an emergency response simulation drill carried out in August, part of its efforts to obtain a drilling license with Brazilian environmental agency Ibama. The Foz do Amazonas region is considered to be ecologically sensitive, but also Petrobras’ most promising oil frontier.

Ibama said in September that it had approved the simulation drill’s results but requested adjustments from Petrobras before issuing a final decision.

The cost of 180 million reais includes only the rent of the drillship, the source from Petrobras said, adding it excludes personnel costs.

The August simulation mobilized Petrobras' largest-ever response structure, involving over 400 people, large vessels, and aircraft. It aimed to demonstrate how the firm would handle a potential oil spill in the environmentally sensitive region.

Petrobras said in a statement that it expects to receive the environmental license “soon,” while Ibama said it is still reviewing Petrobras’ recent submissions and did not provide a deadline.

According to the Reuters report, the situation has echoes of a previous episode in 2022–2023, when Petrobras stationed a drillship in the same region for months. At the time, the company was waiting for Ibama’s approval to conduct a simulation drill, which never took place.