Brazil’s gas and oil giant Petrobras’ CEO Jose Sergio Gabrielli has assertively predicted that his country will soon become the world’s largest market for deep offshore oceanic hydrocarbon exploration equipment.
While talking to journalists on the sidelines of a Brazilian-UK panel on energy generation in Rio de Janeiro Gabrielli said, “In terms of expansion possibilities, in the next 10 years, the majority of the discoveries will come from Brazil. In the immediate future, we will witness a reduction of the consumption of oil byproducts in the U.S., Europe, and Japan, and a swell in consumption in China, India, Brazil, and Africa, where you have accelerated economic growth and social inclusion
Brazil’s offshore reserves have fascinated British attention, as last week British Trade Minister Lord Green led a trade delegation there to push for business.
For instance, recently, a spokesman for the United Kingdom Trade & Investment (UKTI) government agency told that, “Developing closer ties on technology is a main concern in the bilateral relationship. The UK and Brazil have much to accomplish through working simultaneously. In many respects the two countries are a “natural fit”.
Brazil has the best science support and foundation outside the G8 and the UK is at the cutting edge in a number of sectors particularly low carbon research and development.
In the recent past, Petrobras itself has invested plenty of resources on laboratory dedicated to non-destructive testing, corrosion and welding. This is owing to the pressure at the sub-salt deposits (deep ocean drilling) 400-600 bars— is double that of a conventional oil field. New kinds of materials, equipments and technology are required to operate at this depth, mainly to endure the highly corrosive conditions. Since cracks disseminate faster at higher pressure, even minor corrosion can quickly become disastrous.