The oil industry will invest US$ 183 billion in Brazil over the next ten years, according to Roberto Ardenghy (photo), president of the Brazilian Institute of Oil and Gas (IBP). At the opening ceremony of Rio Oil & Gas 2022, the largest event in the sector in Latin America, the executive also highlighted the expectation that 500,000 jobs will be created and US$ 622 billion collected from the public coffers with the production of oil and gas, in country in the next decade.

Rio Oil & Gas started this Monday (26/9) and will continue until next Thursday (29/9), on Olympic Boulevard, in the port area of ​​the Rio de Janeiro capital.

"Today we achieved an event that surpasses all records and will spread over 51 thousand m² in this privileged space on the Olympic Boulevard (in the port area of ​​the city of Rio) and adjacent areas. tomorrow," said Ardenghy.

The president of the IBP also stressed that the future of the oil industry is decarbonised, safe, efficient, diverse and inclusive. The sector currently produces 3.5 million barrels of oil equivalent (boe) per day and transports 400 million liters of fuel across the country. "All this with safety, operational efficiency and extreme environmental care," added Ardenghy.

Around 40 thousand visitors and more than 400 exhibitors will be at the fair and congress until next Thursday (29/9), to discuss the future of the oil industry, which will be the biggest occupation of the port area since the Olympics, in 2016. .Whoever cannot physically attend, can follow the event remotely (online).

Nine countries are present with pavilions at the event's fair – Angola, Germany, Argentina, Austria, Iran, Italy, United Kingdom, France and Norway. Iran and Angola participate for the first time. Austria returns to Rio Oil & Gas after eight years.

This edition of Rio Oil & Gas also marks the resumption of Rio de Janeiro as the country's business tourism capital. Holding the fair in a more central location, with easy access, in a revitalized region of the city, moves the local economy and the hotel segment.

In addition, the IBP, organizer of the event, leaves a legacy for the municipality. The Institute invested in the revitalization of the Armazém, which features the mural 'Etnias', by the artist Eduardo Kobra, which during the event was renamed to Armazém IBP. The space was working only as a parking lot and, now, can be used as a space for large events.

"I would like to thank you for choosing the location. Here, you can experience the reality of the city of Rio de Janeiro a little more. It is a pride to welcome Rio Oil & Gas here. At this moment when we hear so much about sustainability and decarbonization, we understand that this is a vocation of the city", said the mayor of Rio, Eduardo Paes.

Also present at the opening ceremony of the event, the Minister of Mines and Energy, Adolfo Sachsida, highlighted, in his speech, the importance of Brazil maintaining the best legal and competitive practices to guarantee the attraction of investments. The minister recalled that 60% of the oil fields offered by Petrobras have already been sold, which represents more diversification of agents and increased production.

The president of Petrobras, Caio Paes de Andrade, participated virtually in the opening ceremony of Rio Oil & Gas. The executive reaffirmed the priority of the pre-salt in the company's strategy and positioned the equatorial margin, on the northern coast of the country, as one of the most important oil provinces available in the world.

"We work tirelessly to neutralize emissions, in line with the deadline set in the Paris Agreement. The company plans to invest US$ 2.8 billion in the coming years to mitigate emissions. In addition, we are starting a new generation of fuels, such as renewable diesel and aviation biokerosene. Petrobras is a company that is constantly undergoing transformation," said Andrade.

Also present at the ceremony, the Minister of the Environment, Joaquim Leite, highlighted the importance of encouraging the industry to advance in the transformations that will culminate in a green economy. "After the pandemic, the world is looking for a place that is close, friendly and with competitive energy. This place is Brazil. The oil and gas sector is part of the solution and is moving in the right direction, towards a low-emissions economy", he said.

Rio Oil & Gas 2022
Date: 26th to 29th of September
Opening hours: from 8 am to 6 pm (Congress) and from 12 pm to 8 pm (Exhibition and Parallel Events)
Location: Olympic Boulevard (Warehouses 1, 3, 4, 5, Utopia, IBP Warehouse (Mural "Ethnicities") and Kreimer Space)