Brazil is stepping on the oil and gas accelerator, hoping to further develop its upstream assets with additional E&P bid rounds later this year – all amid the country’s efforts to improve the investment climate. The new government, under President Jair Bolsonaro, wants to keep investor interest growing in the energy sector – and beyond. With this goal in mind, representatives of his administration, as well as Brazilian oil and gas companies, have had a strong presence at events in Houston this spring, as they try to court international upstream developers. Marcio Felix, secretary of oil, gas and biodiesel at Brazil’s Ministry of Mines & Energy, advocated strongly for upstream opportunities in Brazil at one of the world’s biggest E&P events – the Offshore Technology Conference (OTC) in Houston, Texas. Felix touted Brazil’s greater regulatory certainty and improved contract enforcement, as well as pension reform and privatization. Brazil has seen a dramatic opening of its upstream oil and gas markets in the past few years with bids on various blocks, and last year one of those bid rounds drew more than $2 billion from producers. Felix put a spotlight on the country’s upcoming 16th bid round in October and November,… continue reading
Continue reading As Brazil’s crude oil exports take off, government targets further upstream development. This article appeared first on CTRM Center.
Source: CTRM Center