The second day of OTC Brazil 2017 highlighted Brazilian potential for oil production and exploration – especially in the Pre-Salt reservoirs – and for lucrative investing opportunities. During the panel “Exploration and Development in Brazil: Opportunities, Challenges and Perspective,” executives from oil companies operating in Brazil showed an optimistic view and advocated on behalf of incentives given by the regulator to increase investments. According to Maxime Rabilloud, Total E&P Brazil general director, the company has an investment plan for exploration and production in Brazil of R$ 24 billion (U$7,43 billion) between 2013 and 2018 and considers the country a strategic market.

“We are investing, but the downturn has led the market to make an adjustment on costs and now the government has to help with job creation efforts”, he affirmed. “We will advocate that regulators reduce the taxes for fields with lower production capacity, from which some have discoveries that are more than 20 years old but have not been developed, such as Xerelete,” Rabilloud said.

The exploratory potential of Brazil was presented by Eliane Petersohn, chief geologist of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). According to the specialist, the Brazilian Pre-Salt already produces 10 times more than the Post-Salt. “The Pre-Salt production comes from 84 fields in the Campos and Santos basins, accounting for only 10% of the Brazilian offshore production. In the rounds planned for the next two years, we will have onshore and offshore offers for all operator profiles.”

Friday 27 October, when the second and third bid rounds are held, the industry expectations are optimistic. “I’m sure that on Friday we’ll see how correct the government was to take that step. Petrobras, alone, would not be able to develop all the fields that will be available on Friday”, affirmed Pedro Parente, Petrobras CEO at the keynote luncheon. He also said that the company has good prospects for the auctions. According to Pedro, the predictability in the rounds schedule is one of the positive factors for the recovery of the Brazilian oil industry, in addition to other key measures, such as the decision of the federal government to end the sole operator rule.

Libra invests on digital technologies

Libra field, located in the Santos Basin, was the highlight of a panel focused on the FPSO acquisition process and the newest technologies to be implemented. At the “Libra Development” session, Orlando Ribeiro, Petrobras general manager, said that the company is studying possibilities to export gas from the field through a new hub and technologies capable of increasing the pressure for gas separation.

“In addition, there will be a change in Libra’s strategy, culture and processes, through the use of digital technologies that significantly increase the project performance. It will be possible to create new results through data sharing and integration,” he added.

OTC Brasil 2017 is sponsored by Petrobras; Total; Shell; BP; Fluor; Statoil; Baker Hughes – a GE Company; Chevron; TechnipFMC; Repsol Sinopec; Saipem; ExxonMobil; Vallourec; Galp/Petrogal; Queiroz Galvão; Flutrol; Aker Solutions; CNOCC; Subsea7; Brazil – U.S. Business Council; Firjan; and OceanPact.

Registration for OTC Brasil is open online and onsite at Riocentro, until Thursday, 26 October.

Share your OTC Brasil experience at #OTCBrasil.