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Búzios and Itapu Oil Fields Expected to Generate 50,000 New Jobs

Written by Paulo Nogueira
Published on 11/11/2019 at 06:28
Updated on 11/11/2019 at 06:31
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The Projection for New Jobs is 50,000 and for Investments is US$ 29 Billion, Approximately R$ 130 Billion, for the Oil Fields Acquired by Petrobras.

In 30 years, the projection is for 50,000 new jobs and US$ 29 billion (approximately R$ 130 billion) in investments for the exploration of the two main areas offered in the mega auction on Wednesday, which were acquired by Petrobras: the Búzios and Itapu blocks, in the Santos Basin, located off the coast of Rio de Janeiro.

Together, the two areas are expected to increase the volume of Brazilian reserves in exploration by 30%, to approximately 33 billion barrels, estimates the consultancy.

The data was projected by the British consultancy Wood Mackenzie, a specialist in value chains dependent on natural resources such as oil and gas.

Rio de Janeiro will be one of the most benefited states from the exploration of the blocks that were sold, boosting investments in the oil industry.

The government’s revenue expectation last week, with the pre-salt mega auction, was about R$ 106.5 billion in signing bonuses. Instead, Brazil collected just under R$ 70 billion.

No private company made bids for fields known to hold billions of barrels of unexploited oil, and this unexpected behavior was disappointing for the market.

The estimate does not take into account the R$ 70 billion to be spent by the auction winners as signing bonuses.

On Wednesday, Petrobras and the Chinese companies CNOOC and CNODC, each with a 5% stake in the consortium, gained the right to explore Búzios, the most promising area among those offered in the mega auction, considered the seventh largest oil exploration field in the world. Itapu was solely acquired by the Brazilian state-owned company.

According to Ricardo Bedregal, a consultant at IHS Markit, the investment account could be even larger, reaching US$ 50 billion, especially considering the magnitude of Búzios.

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Paulo Nogueira

Eletrotécnica formado em umas das instituições de ensino técnico do país, o Instituto Federal Fluminense - IFF ( Antigo CEFET), atuei diversos anos na áreas de petróleo e gás offshore, energia e construção. Hoje com mais de 8 mil publicações em revistas e blogs online sobre o setor de energia, o foco é prover informações em tempo real do mercado de empregabilidade do Brasil, macro e micro economia e empreendedorismo. Para dúvidas, sugestões e correções, entre em contato no e-mail informe@en.clickpetroleoegas.com.br. Vale lembrar que não aceitamos currículos neste contato.

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