The Oil & Gas Year Brazil 2012
In 2012, Brazil’s Petrobras, as well as the National Agency of Petroleum, Natural Gas and Biofuels, saw a change in leadership. The Oil and Gas Year Brazil 2012 has gathered insights into how this will affect the country’s strategy to fully exploit its massive deepwater pre-salt discoveries. Domestic and international players are eagerly awaiting a new round of exploration licences, and Petrobras has made a $225-billion investment in the country’s energy infrastructure.
However, Brazil has suffered as an investment destination as foreign investors and new market entrants have largely been greeted by a complex administrative environment and high taxes.
While the country is on its way to become a leader in offshore floating production, storage and offloading technology, plenty of opportunities are opening up for capacity building among local oilfield services providers. The Oil & Gas Year Brazil 2012 profiles how the country’s continues oil wealth hinges on reforms and a de-liberalisation of the energy industry.