The UT Energy Symposium welcomes Carla Lacerda, President, ExxonMobil Brazil, to give a talk titled Brazil Oil & Gas Sector: 20 yr look-back at Policy vs Impact on Investments.
The oil and gas sector of Brazil opened to competition about 20 years ago, when Brazil was producing approximately 1 MBO/day. Today, Brazil produces close to 3 MBO/day by a number of active companies, including a large contribution by the national oil company, Petrobras. This production growth is due to initial competitive conditions and discovery of a world-class hydrocarbon province offshore called the “pre-salt”.
However, there was a period of lower activity largely due to regulatory framework which limited investments. This presentation will look back at the successful bid rounds vs times of lower investments in exploration, with a description of the policies implemented in each period. The resulting loss of activity set Brazil back a few years relative to other global hydrocarbon provinces. In 2017 and 2018, following regulatory reform, successful bid rounds resumed, indicating Brazil regained its position as a key deepwater area for further exploration and production.
The presentation concludes with a discussion on energy outlook and the dual challenge Brazil faces with development of a global scale pre-salt hydrocarbon resource that can generate significant value and employment, while maintaining a relatively clean energy matrix.
Carla Lacerda, President ExxonMobil Brazil
- 32 years with ExxonMobil, in Exploration, Commercial, and Research.
- U.S. exploration (Texas & Louisiana onshore) and international projects (Angola, other West Africa, China, Indonesia, North Sea).
- Primary focus on Brazil with three assignments; the last two as President/Country Manager.
- Interface with Brazilian Government on industry perspectives regarding regulatory framework.
- Chairperson of the ABEP, E&P Association (within Brazilian Petroleum Institute); and also member of BRATECC Board of Directors (Brazil Texas Chamber of Commerce).
- B.S. - Florida Institute of Technology, M.S. - Texas A&M, both degrees in Chemical Oceanography.
- Dual nationality Brazilian/American
The UT Energy Symposium meets every Thursday during the long semesters. Come early to attend a networking session before the talk.