Brazilian Energy Sector Plans

Enormous Investments

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Amsterdam, 22 april 2024–Petrobras, Brazil’s state-controlled oil company, has unveiled plans for investments exceeding US$70 billion in exploration and production activities. Not too long ago, Petrobras already invested and focused heavily in pumping up oil, as well as take-overs in order to grow more.

These investments aim to not only bolster the country’s energy sector but to create significant opportunities for the domestic naval and offshore industry, with real prospects for job creation.

During a recent event, titledThe Strengthening of the National Naval Industry and the Offshore Energy Sector, Petrobras’ Chief Executive Officer Jean Paul Prates estimated that up to 100,000 direct and indirect jobs would be generated through these investments.

Key projects in Petrobras’ pipeline include the construction of 14 new floating production, storage, and offloading (FPSO) units by 2028, with the potential for seven additional platforms post-2028, according to Prates. Petrobras also aims to revitalize existing fields with the installation of new platforms and sustainable disposal of outdated units, alongside the construction of vessels for cabotage and oil exploration activities.

Carlos José Travassos, Petrobras’ Director of Engineering, Technology, and Innovation, outlined the company’s strategy to boost local manufacturing and meet stringent content requirements. He said Petrobras plans to triple the production of FPSO modules for Brazilian shipyards by 2028 and hire approximately 38 support vessels by 2030, including platform supply vessels (PSVs), oil spill response vessels (OSRVs), and remote support vessels (RSVs).

Petrobras also launched an interactive “Map of the Shipyards of Brazil” at the event. The digital tool, developed in collaboration with the Brazilian Institute of Oil and Gas, provides information about the infrastructure of the country’s shipyards, facilitating partnerships and investments.

Looking ahead, Petrobras envisions a fleet expansion, aiming to increase its drillship fleet from approximately 25 to 30 rigs by 2028.

The company also plans to conduct studies for subsea activities and cabotage navigation, further stimulating growth in the domestic maritime sector.

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