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By Bradlei Moretti, CEO of Berkan Consulting and Auditing, Specialized in Regulated Sectors
The oil and gas industry plays a strategic role in Brazil, not only due to its energy importance but also for the economic benefits it brings to society, such as attracting investments, generating jobs, and increasing revenue. The sector represents 15% of the country’s industrial Gross Domestic Product (GDP), with projected investments in exploration and production of approximately US$ 180 billion by 2031, according to the Brazilian Institute of Oil and Gas.
However, the expectation is that production growth in this industry will occur at a slower pace than in previous years, as indicated by S&P Global. Their report shows that the increase will be driven primarily by two new floating production storage and offloading units (FPSOs) in the pre-salt layer of the Santos Basin. Petrobras’s original plan included two more FPSOs, which have been postponed.
The outlook for the future of the sector is being shaped by a range of factors, from environmental pressures to changes in regulation and the growing demand for clean energy.
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Petrobras is expected to complete the drilling of the Morpho well in the Foz do Amazonas in August 2026, the first well in the Equatorial Margin, an oil frontier that the ANP estimates at more than 30 billion barrels and could redraw the map of Brazil.
In a recent report, the Brazilian Institute of Oil and Gas (IBP) noted that the sector is increasingly turning to low-carbon solutions and sustainable technologies. This shift is driven by a combination of factors, including growing environmental concerns, stricter regulations, and pressure from investors for more responsible practices.
The declining demand for oil is leading oil companies to gradually transform into energy companies. Thus, companies need to redefine their production processes and leverage advantages such as their expertise in offshore operations for generating wind energy, as well as utilizing the existing gas pipeline network for hydrogen transport. Another strategy adopted by oil companies is heavy investment in research, development, and innovation (R&D) in alternative energy sources, aiming to diversify their portfolio and reduce greenhouse gas emissions.
The regulatory environment is complex and constantly evolving, requiring continuous adaptation and rigorous compliance. Regulation encompasses a wide range of issues, from environmental licensing and operational safety to taxation and corporate governance. Navigating this maze requires expertise and a deep understanding of applicable laws and regulations.
In this context, having the support of consultants and auditors specialized in regulated sectors is essential. These professionals bring the specialized knowledge and experience necessary to help companies navigate the complex regulatory environment, identify risks and opportunities, and implement best compliance practices.
Adopting a proactive approach can prepare companies to tackle challenges and thrive in a constantly evolving environment. The future of the oil and gas sector will be shaped by the ability of companies to adapt and become more resilient in the face of change. Those who can keep pace with transformations and embrace sustainability and regulatory compliance will emerge as leaders in the new global energy landscape.
Source: Bradlei Moretti, CEO of Berkan Consulting and Auditing | Via Trevo Comunicação
