(Photo : Reuters)

According to a recently published article, a geologist and consultant of Petrobras named Pedro Zalan had studied the seismic poll data and had calculated that a high volume of oil may be planted deep in the sea bed of Brazil's south coast, which means oil drilling in Brazil will yield profits.

After the publicizing of the possible oil deposits in Brazil, excitement and worry had filled the people of the country for political and financial-related issues with the possible oil drilling in Brazil. The exploration responsibilities for these possible oil deposits in the country may create multiple difficulties with the country including its legality and environmental impacts. It is feared that the government of Brazil may not be equipped with the required expertise and resources for the possible project.

According to the University of São Paulo's biological oceanographer Alexander Turra, there is evidence showing the weakening of the environmental governing bodies in the country of Brazil. Therefore, there is a high chance that biodiversity, fishing opportunities, and other industries offered by the region may be at a high possibility of incurring losses.

It had already been known for years the probable discovery of high volumes of petroleum. It was estimated that 20 million - 30 billion counts of barrels of oil may be extracted from oil drilling in Brazil and this is aside from the total deposits already discovered in the country.

Brazil had announced in 2006 that a minimum of forty million barrels of oil may be extracted from Campos basins and Santos basins.

Recently, Brazil's government had decided to push through with the oil exploration projects despite some increasing environmental issues with environmental advocates and other groups.

According to Bento Albuquerque, the Mines and Energy Minister of Brazil upon meeting with the leaders of the United Nations, Brazil is a developing country and that oil will be a continued primary source of energy of the entire globe for years.

Brazil is a country that is highly dependent on biofuel and acquires a huge amount of its energy from hydroelectric power plants and other renewable resources. The country is also a good supporter of the Paris Agreement. 

According to Albuquerque, the country still has the capability of increasing its target concerning the Paris Agreement regardless of its activities involving oil drilling in Brazil.

It was also stated that the diversity of energy sources in the country will make way for it to exceed its targets and will continue to explore its lands with a high sense of responsibility.

The government of Brazil under the leadership of President Jair Bolsonaro had been prioritizing the country's development rather than the conservation of the environment since his assumption of the highest position in the country since January 1st.

Albuquerque had stated that the government of Brazil will be conduction a re-auction of two other exploration areas in the country which was not acquired during the first auction that happened in November of this year. The date for the 2nd auction is not yet fixed but it is announced that the auction will be a date from August to October of the following year.