Prospects for the Oil and Gas Industry in Bahia: Job and Income Generation for the Baian Regions

Written by Valdemar Medeiros

Published on 12/08/2020 at 19:18

Updated on 12/08/2020 at 22:00

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Bahia Is the Cradle of Oil and Gas Exploration in Brazil, and the O&G Industry Plays an Important Role in Economic Industry and Job Creation

The scenario of the oil and gas sector in Bahia is doubly challenging: on one hand, recent years have seen a loss of relevance, with businesses reducing to their lowest historical levels. On the other hand, there are high expectations for a new cycle, where small and medium independent producers can operate competitively, launching a new model of sector development in Bahia.

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On 08/11, a debate was held by the FIEB – Federation of Industries of the State of Bahia, on the theme Oil and Gas Industry: Perspectives for Bahia. The debate was moderated by Miguel Andrade, representing FIEB, along with his guests, Anabal Santos Jr, Marcelo Magalhães, Frederico Oliveira, and Luiz Gavazza.

With Bahia as the Cradle of the Oil and Gas Industry in Brazil, the Debate Presented Perspectives and Challenges of the Segment in the State of Bahia

The opening of mature fields with a permanent offer resulted in investors having higher business expectations, a gas market opening, in addition to a reduction of royalties for small and medium producers in mature basins. Although we are witnessing a global economic scenario heavily impacted by the pandemic, before this global situation, the oil industry was in an excellent state and was prominent.

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Even with the pandemic, there were positive points in the oil and gas industry, such as the realization of incentive actions for the onshore industry. The prospects for revitalizing mature fields, in addition to boosting production, generate greater regional development, competitiveness, and job and income generation for Bahia regions.

Job Openings

Job creation in the oil and gas sector in Brazil is an important aspect of oil exploration activity. Moreover, studies highlight Bahia, which remains significant in the national context of sector jobs. Rio de Janeiro accounts for 57% of the employed workforce, followed by São Paulo and Bahia (12.7% and 7.6%, respectively). There are about 80 thousand direct jobs in the sector in Brazil, according to RAIS/MTE data from 2017, generating R$ 14.7 billion in wages.

Characteristics of the Oil and Gas Industry in Bahia

Not only focusing on oil, the importance of expanding the use of Natural Gas was discussed, with its use in public equipment, energy cogeneration, public transport, and heavy-duty vehicles. Furthermore, the need to increase the consumption of natural gas across various industries such as Mining, Metallurgy, Grains, Cotton, Wineries, Hospitality, and other industries was emphasized.

One of the challenges presented in the Gas industry is the interiorization of Natural Gas, as the coast holds almost all the natural gas, and in Brazil, there is still a very closed mindset about thermoelectric. If well explored, the oil and gas industry is a segment that can yield high profitability, and with the correct investment, it can generate more than encouraging results.

With due attention to the industry, it will be possible to apply all the benefits it can offer, whether in economic change or in the environment, not just in Bahia but throughout Brazil.

With the pre-salt, Bahia loses any relevance in the national scenario, now accounting for about 1.2% of national production, where only one pre-salt well produces more than the total daily production of Bahia. Due to the loss of relevance and a sharp decline in production, investments, jobs, royalties, taxes, and business in general, action is needed to revitalize this industry in Bahia. Although there is a marked decline in oil activity in Bahia, the amount of wealth exists. For illustrative purposes, if the current volume of reserves (greatly underestimated due to a lack of research) were recovered and monetized in its entirety, we would have an amount on the order of R$ 68 billion.

Prospects for the Oil and Gas Industry in Bahia: Job and Income Generation for the Baian Regions

Bahia Is the Cradle of Oil and Gas Exploration in Brazil, and the O&G Industry Plays an Important Role in Economic Industry and Job Creation

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With Bahia as the Cradle of the Oil and Gas Industry in Brazil, the Debate Presented Perspectives and Challenges of the Segment in the State of Bahia

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Job Openings

Characteristics of the Oil and Gas Industry in Bahia

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Prospects for the Oil and Gas Industry in Bahia: Job and Income Generation for the Baian Regions

Bahia Is the Cradle of Oil and Gas Exploration in Brazil, and the O&G Industry Plays an Important Role in Economic Industry and Job Creation

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