Pre-salt oil may lure massive investment into Brazil
To meet the need to bring into the market some 60 million barrels of oil a day by 2040 to ensure the sustainable economic development in the long run, oil companies will have to invest approximately $1 trillion every year during the period.
The appraisal was given Tuesday (Sep. 22) by Renato Tadeu, Executive Director at the oil company Barra Energia, during the opening panel of Rio Pipeline Conference & Exposition, whose central theme this year is the role of underwater piping in pre-salt oil development.
Bertani describes the pre-salt layer as “extremely promising.” “Just so you can have an idea, the greatest discovery apart from the pre-salt [layer] was made in the Mexican Gulf, with its 1.5 billion barrel reservoir, a tiny little fish compared with the pre-salt reserves, which includes a few fields already in production,” he said.
He noted that a mere 23% of the pre-salt area has been covered by a concession or sharing agreement for production. “That meas we have 77% of this extremely rich province waiting for investment to come to the country so that we can turn this wealth under the soil into wealth for our society.”
In Bertani's view, global interest and capital abound, and they are waiting for a chance to head for the country. “They're massive investments, but the sector is an industry full of uncertainties and risks, and its life works in cycles, and we're currently facing a low cycle. But this low cycle can be transformed into a cycle of opportunities. But for these conditions before us to materialize, some changes in the regulation must be made in Brazil's business environment,” he argued. Bertani, however, did not elaborate on the changes.
Translated by Fabrício Ferreira
Fonte: Pre-salt oil may lure massive investment into Brazil
