Start The Oil Capital is Back: Investments and Job Generation Will Be Heavy in 2018

The Oil Capital is Back: Investments and Job Generation Will Be Heavy in 2018

October 13, 2017 7:20 am to 7:20 am
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offshore, oil and gas 2018

In an official note, the Regulatory Agencies say that Rio will return to being an oil power from 2018

[supsystic-social-sharing id='1′]Macaé, Rio das Ostras and Campos dos Goytacazes benefited greatly from the oil economy in the years between 2006 and 2014, with an increase in municipal collections and the generation of jobs that range from beyond thought. Revenues averaged R$10.7 billion each year from royalties, but because of the crisis, this revenue has decreased to R$7.2 billion. But despite this, excellent pre-salt discoveries and the revitalization of mature fields, Rio will once again become the biggest oil power, according to industry experts.


The cities of Saquarema, Maricá and Niterói, which make up the relevant regions of the pre-salt fields, have also experienced the maximization of revenue from royalties and PE (profit sharing) which have been 4 times higher in the last 3 years, despite of low crude oil barrel values. Everything leads us to believe that as Campos de Libra develops and produces, more jobs, more collections and investments will enter the cash of producing municipalities again, in the short and long term.

Campos Basin

Now speaking of the Campos Maduros, which are the post-salt assets located in the Campos Basin, revitalization works are being carried out, reducing the natural negative factor of productivity over the years, this project is called the Operational Efficiency Increase Program (Proef) created by Petrobras, with full scope in the Campos Basin. In this project, they include the exchange of old platforms for new FPSO's, which will maximize productivity, municipal collections and hiring of workforce. In the report by InterTV Alto Litoral in the video below, he explains in a more didactic way on the subject. Watch it then continue with the rest of the reading:

Seeking to reposition itself in the market, Petrobras opened some of its asset portfolios to other oil companies, selling or partnering in these mature fields. An example of a recently concluded contract was with Norway's state-owned Statoil, which together with Petrobras, are already working on the revitalization and recovery projects of these fields.

Less taxes, more investments

To the National Petroleum Agency (ANP) will reduce taxes for oil exploration activities in Brazil and this resolution will be applied until the beginning of 2018, which will attract the interest of more oil companies to produce in national territory.

Today the productivity factor is at 14%, with these new techniques and resolutions applied, this percentage will rise to 24%. According to ANP studies, for every 1% more in the recovery factor, the Campos Basin will collect R$ 16 billion in royalties and R$ 26 billion in investments.

In the 14th round of the oil auctions that took place in September, ExxonMobil, which is the largest oil company in the world, is now back in the Brazilian market, translating into practical terms, a lot of jobs and revenue are already at the door. On October 27, the pre-salt auctions will also take place, which will be divided into 3 rounds: the first will be the fields that are already in production; in the second 4 areas in the Campos Basin and in the third, areas in the Santos Basin.

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