Oil and gas sector to invest US$19 billion in Brazil until 2025

The oil and gas sector should invest R$102 billion in Brazil by 2025. This will open 525,000 job openings in the country’s oil exploration and production.

The projections, published on Tuesday, August 2, are from Abespetro (Brazilian Association of Oil Services Companies) in partnership with Deloitte.

The figure is a consolidation of data from PPSA (Pre-Salt Petroleum). According to Abespetro, the figure announced by the oil and natural gas operating companies will be concentrated on exploration and infrastructure activities.

Between 2019 and 2021, the sector collected R$288 billion (US$55 billion), with R$104 billion recorded in the previous year alone.

For the association’s president, Rodrigo Ribeiro, the applications are fundamental for “the success of the energy transition. Also, in his speech, Brazil has a “natural vocation” to be a producing center of oil and gas on a global scale, but society will only benefit if the “investments occur and resources are produced.

According to the document, the oil and gas industry can exploit the full potential of proven reserves in Brazil. However, the search for renewable energy sources reduces the demand for fossil fuels, making conditions for exploiting these reserves unfavorable soon.

In addition, the data estimates that the national demand for oil and gas will grow 24.6% from 2020 to 2030. In the same period, production should increase by 61.3%.

With information from Poder360

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