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Energy insecurity, the rise in oil prices, and the resumption of exploration auctions in Brazil will be the main drivers of job openings. Abespetro forecasts an increase of 500 thousand opportunities in the oil and natural gas sector by 2025.
Abespetro’s (Brazilian Association of Oil Service Companies) projections for the Brazilian oil and natural gas market this Friday, (12/23), are quite optimistic. The company predicts that the national market will have more than 500 thousand new job openings in the sector by the end of 2025, driven by various factors in the macroeconomics of the segment.
By the End of 2025, 500 Thousand New Job Openings Will Be Added in the Brazilian Oil and Natural Gas Sector, According to Projections by Abespetro
The Brazilian oil and natural gas market continues to grow constantly with the development of new projects in recent years, and for the upcoming periods, the projections are even more optimistic.
According to surveys and research conducted by Abespetro, the national market could see an additional 500 thousand job openings for workers by the end of 2025.
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The job openings will primarily focus on exploration and production projects for fuels across the country.
Currently, the oil and natural gas segment has a total of 340 thousand jobs. Abespetro’s expectation for the coming years is to reach 837 thousand by 2025 — an increase of 497 thousand positions.
According to the association, the largest number of jobs should be directed to the region of Macaé, in Rio de Janeiro, where most of the oil and natural gas projects are being developed.
Additionally, Abespetro projects an average salary of 16 thousand for the positions offered over the next few years in the sector, significantly enhancing advancement opportunities in the Brazilian segment.
Rise in Oil Prices, Energy Insecurity, and Brazil’s Opening to New Explorations Will Drive Job Openings in the Oil and Natural Gas Sector
Abespetro commented on the main influences for the growth of the oil and natural gas market and job opportunities in the coming years.
The primary factor is the rise in oil barrel prices in the global market. The barrel has risen again and is currently trading at around US$ 80.
Moreover, the war between Ukraine and Russia has been causing significant international energy insecurity, with risks of shortages, driving prices up and making the Brazilian market more attractive.
The resumption of auctions for areas designated for oil exploration in Brazil will also attract a series of new investments for projects in the sector, thereby creating new job opportunities.
The value of announced investments is US$ 156 billion between 2022 and 2030, and the Ministry of Mines and Energy expects it to reach US$ 415 billion.
Thus, Eduardo Costa Pinto, a professor at the Institute of Economics of UFRJ and researcher at Ineep (Institute for Strategic Studies of Oil, Natural Gas, and Biofuels), emphasizes: “At this moment, extracting oil is making a lot of money, and there is no clarity on how long this new cycle will last.”
Learn More About Abespetro
ABESPetro (Brazilian Association of Oil Service Companies) is a civil association, nonprofit, with nearly 20 years of history, whose role is to promote the defense of the general and legitimate interests of its members before the government linked to Federal, State, and Municipal spheres, regulatory agencies and/or bodies, as well as other class entities and the industry in general.
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