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He will take the place of Marcelo Magalhães, who will leave the company to take a sabbatical and dedicate himself to other personal ventures, thus providing space for new growth opportunities.
A PetroReconcavo was established 23 years ago and is responsible for operating a set of 56 oil and natural gas concessions in several Basins, including Potiguar, Recôncavo and Sergipe-Alagoas. Furthermore, the company has control over 6 exploration blocks, 5 in the Recôncavo Basin and 1 in the Potiguar Basin, and has a stake in 2 concessions managed by other companies.
PetroReconcavo has a significant presence and influence in the oil and natural gas sector, with a diversified portfolio that covers multiple regions of Brazil.
In a post on Linkedin, he announced his intention to step down as CEO of PetroReconcavo. After almost 15 years at the helm of the company, he expressed his satisfaction with the work carried out, highlighting the exponential growth and the conquest of an important space in the Oil and Gas market as one of the most relevant independent operators in the sector. He also highlighted the importance of his team, qualified and engaged, in the process of transforming the Brazilian onshore oil and gas sector.
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Marcelo's contribution to the company's growth
“For almost 15 years as CEO, Marcelo played a fundamental role in driving the growth and transformation of the company, consolidating it as one of the main independent producers of oil and onshore gas,” the company said in a statement.
“He led a process of restructuring, acquisitions, IPO and new share issues, providing significant value to shareholders and the community, especially in municipalities in the interior of Northeast Brazil. Marcelo will collaborate with the new CEO in a gradual transition over the next few weeks.”
Furthermore, the organization has an exceptional technical team and a significant competitive advantage, which is the vertical structure that provides greater autonomy, productivity and reduced costs. I see great potential in PetroReconcavo and we are committed to charting an even more ambitious future compared to the current situation. We want to take the Company to a new level.
Marcelo Magalhães led the PetroReconcavo for 15 years, during which he oversaw the company's expansion.
“I am very excited about my new venture. At PetroReconcavo, I found an exceptional set of opportunities: the company has shown robust organic growth year after year – while generating profits to distribute dividends to shareholders, maintaining a healthy debt position and having assets of oil and high quality gas – with great potential for increasing production”, stated Firmo.
José Firmo will assume the position of CEO da PetroReconcavo from January 1, 2024, as announced by the company this Friday (24/11). It will happen Marcelo Magalhães, who will leave the company to take a sabbatical and dedicate himself to other personal projects.
With over 30 years of experience in the oil, Firmo currently holds the position of CEO of Port of Açu, a subsidiary of Prumo, since 2019. Additionally, he was previously president of Schlumberger in Brazil and senior vice president of Seadrill in the Western Hemisphere, and also led the Brazilian Institute of Oil and Gas (IBP) and the Brazilian Association of Gas Service Companies Oil (Abespetro).
It is a significant change for the PetroReconcavo, which relies on vast experience and knowledge of José Firmo to continue its growth and expansion in the oil and gas.
Source: EPBR
