The resumption of oil in Brazil

This year, Campos Basin, largest sedimentary area explored in brazilian coast, complete 40 years. Its discovery in the northern region of Rio de Janeiro was in 1974, but the first drop of oil only emerged on the day 16 December 1977. At the time, there were many technical and technological limitations, as well as unknowns, and no one imagined the real impact that such a discovery would cause. Today, the basin corresponds to 80% of the oil production in Brazil.

Over these four decades ago, the country went through a military dictatorship, two impeachments and seven economic plans. Despite the political and economic instability, was the oil industry that more has grown in recent years, boosting other areas as civil construction. In Rio de Janeiro, where oil is responsible for a third of gross domestic product (GDP), the impact was massive.

His farm turned and still brings a billion dollar figures to the capital investments and Macaé cities, where is located the Campos Basin, in addition to contributing directly to the growth of the State. In a time of crisis through which the river passes, the royalties have been instrumental to the State, which corroborates your importance in the economy, especially location. So that the output pointed to by the Government to pay for the servers is to try the anticipation of receiving revenues from royalties.

The prospect for 2017 is the beginning of a resume, although at a lower rate compared to previous years. The recent sanction of Law 13,365/2016, which allows the exploration of pre-salt areas by other carriers in addition to Petrobras, as well as the likely accession to the award scheme are facts that will bring new perspectives to the industry, from exploration to the price of a barrel of oil. And this set of changes generate new opportunities to the various chains in this segment.

Oil is still the "Black Diamond" and has a promising future, especially in the medium and long term. In December, the Government confirmed the 14th round of auctions for bids of 291 blocks. Of these, 10 are in the Campos Basin and ultra-deep waters, possibly from the pre-salt layer, which is great news to the market, because initially she wasn't in that round. This shows that, at 40 years, Campos Basin continues with the same vigor and breath to continue to offer the best prospects in the national exploitation.

The most significant investment is also good news. The difference is that as now the proportions are smaller, though talk of billion dollar figures, the amounts are more strategic applications. With that, this is the time of the various niches of the oil industry chain to extend the networking and talk to each other for better negotiations, because provision for investment there is, however, applied more thoroughly than formerly. So, in June, happens to Offshore Brazil, largest trade fair in the sector, held in the national capital, in Macaé, between 20 and 23 June.

This will be a strategic meeting point for all entrepreneurs of the sector, from one that explores when distributing, or the person responsible for maintenance of equipment. Will be more 53000 professionals that will lead their representatives and decision makers from different parts of this productive Chair of a market that, though dormant, is preparing your back.

This is a time for doing business, identify trends and broaden the network of contacts. In addition, we will have business rounds with segment organizations, conferences and lectures on areas of reservoirs, drilling and completion, subsea and topside.

For some, the financial crises are barren times. It's time to cut costs, direct, a real show of contortion for not leaving the game. For others, it is a moment of opportunity. In the oil and gas market are the two realities.

* Igor Tavares, Director of Offshore Brazil