Bahia is the birthplace of oil and gas exploration in Brazil, and the O&G industry plays an important role in the economic industry and job creation

The scenario for the oil and gas sector in Bahia is doubly challenging: on the one hand, the last few years have seen a loss of relevance, with business falling to its lowest historical levels. On the other hand, there are great expectations about a new cycle, where small and medium independent producers can act competitively, inaugurating a new development model for the sector in Bahia.

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

With Bahia as the birthplace of the Oil and Gas industry in Brazil, the debate presented perspectives and challenges for the segment in the state of Bahia

The opening of mature fields with the permanent offer resulted in investors with greater business expectations, opening of the gas market, in addition to the reduction of royals for small and medium-sized producers in mature basins. Despite the fact that we are witnessing a very affected world economic scenario, due to the pandemic, before this global situation, the oil industry was in an excellent situation and evidence.

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

Jobs

The generation of jobs in the oil and gas sector in Brazil is an important aspect of the oil exploration activity. Furthermore, studies highlight Bahia, which remains representative in the national context of jobs in the sector. Rio de Janeiro concentrates 57% of the employed workforce, followed by São Paulo and Bahia (12,7% and 7,6%, respectively). There are around 80 direct jobs in the sector in Brazil, according to RAIS/MTE data for 2017, generating R$14,7 billion in wages.

Characteristics of the Oil and Gas Industry in Bahia

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

One of the challenges presented in the Gas industry is the internalization of Natural Gas, because on the coast there is almost all natural gas and in Brazil there is still a very closed thought of thermoelectric. If well explored, the Oil and Gas industry is a segment that can generate a lot of profitability, and with the right 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 us, whether in economic change or in the environment, not only in Bahia, but throughout Brazil.

With the pre-salt layer, Bahia loses any relevance in the national scenario, representing about 1,2% of the national production, where only one pre-salt well produces more than the total daily production of Bahia. Due to the loss of relevance and sharp drop in production, investments, jobs, royalties, taxes and business in general, it is necessary to act to revitalize this industry in Bahia. Although there is a sharp decline in oil activity in Bahia, the amount of wealth. By way of illustration, if the current volume of reserves (greatly underestimated due to the lack of research) were fully recovered and monetized, we would have an amount of around R$ 68 billion.