Brazil Must Attract 50% of Global Investment in the Subsea Oil and Gas Market. The Assessment Comes from Rachid Félix, Chairperson of Session 3 of the SPE Brazil Subsea Symposium: Unleashing the Potential of Subsea 4.0, Taking Place on June 18 and 19 at Firjan in Rio de Janeiro.
On June 18 and 19, discussions will be held at Firjan in Rio de Janeiro on how the subsea industry can develop new technologies in a naturally conservative environment, as risks and accidents are very costly for the entire industry. According to Félix, the idea of the event is to discuss how to reconcile safety with the development of new technologies.
“This is a big challenge. We have to face it. The faster we want to go, the greater the challenge will be,” says Félix.
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The optimization of new technologies will be another topic addressed at the event. According to Félix, the business model in the oil sector has changed profoundly since the last crisis, thus new technologies are necessary, along with shorter development times.
“The current scenario demands that the oil business has viability – not only in the long term – but also in the short term. The sustainability of the energy use model is undergoing a change,” said Félix.
Félix points out that, with recent changes in Brazilian regulation, the country will have a range of operators, from majors to independent companies. The vision is that all change will help in the implementation of new technologies. He sees new developments coming even from independent companies.
“This is the main attraction of this structural change. Previously, the Brazilian market was quite slow. With the opening of the market, we will also have large companies but with different cultures.
With different problems and solutions. We will also start to see small companies developing projects quickly. We will move from one operator to perhaps 15 or 20 very quickly,” he states.
The SPE Brazil Subsea Symposium is a continuation of several forums that have been held for many years, where companies and specialists come together to discuss openly. “It is effectively a technological discussion forum for the subsea area,” says Rachid.
Oil is no longer a scarce resource and exists in abundance. The cost of extracting it – compared to other energy sources – is today the main challenge, and it will drive the industry to accelerate the reduction of production costs, an increase in safety, and system efficiency. This will also happen in subsea.
“This dilemma is always accelerated by healthy competition, which is always positive. The world moves faster with competition,” concludes Félix.
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