Want to invest in oil and gas? Opportunities are opening up in Brazil

摘要

A "huge transformation" in the oil and gas sector in Brazil will see state-run Petrobras sell half its refinery capacity, all of its onshore and shallow water fields and even some offshore post-salt concessions. This divestment, in combination with a new national gas law, will create fertile ground for billions of dollars of investment, said the country's head of its leading oil regulatory body. "We're going through unprecedented transformation in the oil and gas market in Brazil - in every sense," said ANP director general Rodolfo Saboia. Mr Saboia said with these new investments in mature fields, development of pre-salt fields, offshore blocks in the exploratory phase, and a calendar of new auctions, "Brazil is ready to take a leading position in the sector. This is what we expect to be happening in the years to come." The divestment by Petrobras is expected to make it a "more competitive and open market, better for consumers," he added. Mr Saboia made his comments about the Brazilian offshore oil and gas market during an OTC-produced streamed presentation and interview, "The Oil and Gas Industry in Brazil: Investment Opportunities," in June.