Brazilian President Luiz Inácio Lula da Silva has said the discovery of oil near the mouth of the Amazon river could be “a passport to the country’s future”, reports the BBC.
The uncovering was made about 175km off the coast, with the size of the field not yet clear.
It is also unknown whether extraction would be commercially viable for Brazil’s state-run oil company Petrobras.
The exploratory drilling has been hit with backlash from conservationists, who warn the area is very biodiverse.
They have shared fears that accidents could threaten nearby reefs and coastal wetland wildlife.
Lula, who is running for another four-year term in October, claimed that he was still committed to eventually phasing out fossil fuels to curb climate change. However the President has got a history of rejecting criticism from conservation groups.
On the lead up to the election, Lula may use the oil discovery to try and attract voters who want economic development in this remote part of Brazil.
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