Oil and gas industry predicts investment of R$ 100 billion and generation of 500 thousand jobs

A survey by the Brazilian Association of Petroleum Services Companies points out that the oil and gas industry should invest R$ 102 billion a year in exploration and production by the year 2025 in Brazil.

AbesPetro expects that 500,000 new jobs will be opened in the exploration and production of oil and gas in the next three years.

In an interview with CNN Radio the executive director of the Association, Telmo Ghiorzi, explained that an investment of US$ 156 billion was announced until 2030 – which corresponds to the annual value in reais -, but that “there is still an expanded potential of US$ 415 billion”, since “there are reserves that exist and need to be auctioned.”

“We are coming out of the valley of the crisis, caused by the pandemic and other factors, and we have a ramp for the evolution of investments and jobs”, he added.

The study, according to the director, estimates how much each investment translates into job vacancies. “For every 1 billion invested, 25,000 new jobs are created, this is done by an economic calculation.”

Telmo stated that these vacancies are for engineers, technicians and researchers who are “well qualified and well paid”, who earn 4 to 5 times more than the average salary in Brazil, precisely because of their level of education.

“These professionals are qualified to develop products and technologies in this sector, which is why they also end up generating many indirect and induced jobs.”

The specialist also regretted that Brazil “exports brains” to large international companies, and is unable to retain these professionals in the country’s companies.

He assesses that this is an important challenge to be remedied in the future.

*Produced by Alessandra Ferreira