Brazilian President Luiz Inacio Lula da Silva has staked out a larger government claim on newly discovered offshore oil reserves, promising to funnel proceeds into poverty reduction, education, science and technology.

Located off Brazil’s southeast coast near Rio de Janeiro, the deep-water fields (the blue area in the Petrobras map) represent some of the biggest discoveries in the world in recent decades. The “pre-salts” are technically challenging, trapped below a thick layer of salt several thousand metres below the sea, but they could thrust Brazil into the major leagues of oil production – albeit at a time when the world is desperately seeking cleaner alternatives.

The plan has been on ice for more than a year (Nature), due in part to the global economic crisis. In making the announcement on Monday, Lula proclaimed an “independence day” of sorts. It stops well short of the kind of nationalization that has been seen in places like Venezuela and Bolivia, but many see it as a step in that direction.

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The government-controlled firm Petrobras would take charge of developing the new fields. Foreign firms seeking a piece of the action would need to share in the production rather than bid on concessions, produce their own oil and send the government checks. A new company would be created for managerial purposes, and money would be pumped into a “New Social Fund.”

Although many say Brazil has a right to reevaluate its resources and would be wise to ensure that revenue is spent wisely, others chalk the proposal and the timing up to politics and power. I emailed Georges Landau, a São Paulo-based energy consultant who served as a source in our story last year, and he replied with this:

“The whole show was political, in support of Dilma’s faltering presidential candidacy, and giving Petrobras quasi-monopoly rights is a net throwback to the xenophobic nationalism of five decades ago. These are my views, in a nutshell.”

Landau refers to Dilma Rousseff, who is important in many ways. She is Lula’s chief of staff, his chosen successor in next year’s presidential elections and chair of the board at Petrobras. For a little background on that as well as the ongoing corruption investigation at Petrobras, take a look at a recent report from the Christian Science Monitor.

All of this could make for a lively debate in the Brazilian Congress, which must approve the deal. Lula has a year to make his case.