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Economy recovery and clear rules brings international trust back

Home > PPI English > News > Economy recovery and clear rules brings international trust back

25 de outubro de 2017

Economy recovery and clear rules brings international trust back

Foto: Governo do Brasil

The new public sales for the oil and gas sector will generate around 500 thousand jobs and R$ 100 billion in investments. Sixteen companies, including 14 multinationals, will participate in the new rounds to happen in Rio de Janeiro on October 27th.

One of them, Petronas, from Malaysia, the famous sponsor of F1 teams, has never invested in Brazil before. Others companies like Exxon, the world's largest company in the oil and gas industry, are returning to do heavy investments in the country.

The new investments will benefit national's economy, especially Rio de Janeiro, where pre-salt's largests reserves are located. The state must receive R$ 25 billion only in taxes and royalties within a decade. Companies are being attracted to invest in Brazil by the recovery of its economy and favorable business environment, as well as clearer rules, which are providing legal certainty to investors.

The public sale will be carried out by ANP (National Petroleum Agency) in accordance with the planning made by PPI (Investments and Partnerships Program) and led by the Chief Minister of the General Secretariat of the Presidency of the Republic, Moreira Franco.

The second and third round of pre-salt's sale will offer eight areas. Bacio de Campos, in Rio and Espírito Santo states, and Santos in São Paulo state. The oil and gas public sales will guarantee reserves expansion and a technological leap for pre-salt's exploration.

The schedule established in May of last year is being fulfilled to the letter. Of the 145 PPI projects – between public sales, renewals, concessions and privatizations – 54 are in progress. Therefore, counting on the public sales already carried out, and both of the 27th, will generate 1.7 million jobs and R$ 130 billion in investments.

It is half the value of the PPI's total investment forecast, when it is completed at the end of 2018, generating investments of R$ 260 billion during the period of 10 years, and 3.5 million direct and indirect jobs.

Petrobras has been interested in three blocks, where it will have the preferential option of investing alone or joining other companies. Previously, it had the obligation to participate with a minimum of 30% in operations, which was hinder its investments. Nowadays the government company invests only where it serves its strategic interests, without wasting resources on high-risk operations.

Source: PPI

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