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The Study Was Conducted by AbesPetro. According to the Association’s Analysis, for Every $1 Billion in Investments in the Oil and Gas Industry, 25 Thousand New Jobs Are Created in the Sector
According to a survey conducted by the Brazilian Association of Oil Service Companies (AbesPetro), the oil and gas industry is expected to invest R$ 102 billion per year in exploration and production in Brazil by 2025. AbesPetro also expects that 500 thousand new job vacancies will be made available in the oil and gas exploration and production sector over the next three years.
In this context, the Executive Director of the Association, Telmo Ghiorzi, stated in an interview with CNN Radio that an investment of $156 billion has been contracted to be made by 2030, which corresponds to the annual amount in reais, but there is still an expanded potential of $415 billion, given that there are existing reserves that need to be auctioned off.
Ghiorzi also added that the oil and gas industry is emerging from the crisis stage caused by the pandemic and other factors, and is now on a growth trajectory in terms of investments and jobs.
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According to the director, the AbesPetro study estimates how much each investment translates into job vacancies. Thus, for every $1 billion in investments, 25 thousand new jobs are created, which is determined through an economic calculation.
The New Job Vacancies Created in the Oil and Gas Segment Will Be Directed to Engineers, Technicians, and Researchers Qualified for the Development of New Products and Technologies
Telmo explains that the vacancies are aimed at engineers, technicians and well-qualified researchers who earn salaries that can be 4 to 5 times higher than the national average salary, precisely due to their high level of education. He also added that these professionals possess the appropriate qualifications for the development of new products and technologies in the oil and gas sector, which also leads to multiple indirect and induced jobs.
Finally, the specialist highlighted the fact that Brazil “exports brains” to large international companies, being unable to keep professionals within the country’s firms. For him, this is an important challenge to be faced in the future.
Also Read This Article: High Oil Prices in the International Market Contribute to a Strong Valuation of Over 80% of Petrobras’ Shares
Since the resumption of economic activities after the Covid-19 pandemic and the onset of the war in Ukraine, oil prices in the international market have been rising. As a result, Petrobras shares have also shown considerable increases.
According to CNN Brasil, on July 26, 2021, the company’s preferred shares (PETR4) were priced at R$ 18.61. By the last Friday (29), a day after the announcement of the company’s R$ 54.3 billion profit in the second quarter of this year, the value of those shares was R$ 34.15, which represents an increase of 83.5%.
The ordinary shares (PETR3) saw an even more significant increase during this period, rising by 90%. Their price went from R$ 19.45 to R$ 36.96.
According to the analysis by Bruno Imaizumi from LCA Consultores, the rise in oil prices began with the recovery of economic activity after the most critical period of the Covid-19 pandemic.
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