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Brazilian oil and gas industry to create 500 thousand jobs by 2020

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The oil and gas sector in Brazil, which is emerging from an economic crisis and the recession caused in part by low oil prices and reduced investment by Petrobras, is showing signs of recovery.

Companies around the world are settling in the country, eyeing opportunities, and some analysis indicates that a hiring truck is coming.

A study conducted by the Brazilian Development Bank shows that around 500,000 new jobs are expected to be created in the industry by 2020. Another study by the Federation of Industries of the State of Rio de Janeiro said that greater flexibility in regulating local content will help boost several projects, which can bring oil and gas activity and create more jobs.

The E & P sector in particular is expected to gain momentum, considering that 44 offshore production systems are expected to start operating in Brazil by 2030, according to the federation. “These units will increase the demand for goods and services and generate jobs,” the federation said in a statement.

One of these units will be set up in the state of Espírito Santo, located in the southeastern region of Brazil. The assembly of the vessel, which will be operated by Petrobras, is expected to start in 2020 and create about 1,000 jobs in Brazil. The hull will be built in China.

The city of Macaé, which is the center of Brazil’s offshore oil industry, could offer most of the jobs needed to boost Brazil’s oil production in the coming years.

Several companies in the oil and gas supply chain established offices in the city when oil prices were higher, and now many of them are waiting for the return.

These companies are anticipating the launch in Macaé of three maintenance service bids for 39 FPSOs in the Campos Basin by Petrobras this year. The Brazilian major is also back on track after being shocked by investigations into corruption scandals, known collectively as Operation Car Wash.