In a bid to advance the offshore sector on the coast of Sao Paulo for enhanced oil, gas and energy production in Brazil, Petrobras, the Secretariat for Economic Development of the State of Sao Paulo, InvestSP agency and the Brazilian Energy Council (Brenc) formalised a protocol of intentions.
This establishes guidelines for institutional, technical and operational cooperation to promote coordinated actions in infrastructure, workforce development, innovation, regulation and sustainability on the coast of São Paulo, so that it can become the prime hub for offshore operations in the country.
The development comes as part of Petrobras' Strategic Planning 2050 and Business Plan 2025-2029, comprising investment designs worth US$111bn, and US$ 77bn planned for the development of production and exploration projects, including basins off the coast of Sao Paulo.
The agreement was signed during SP Offshore 2025 by Petrobras' Executive Manager of Production Development Projects, Dimitrios Magalhaes; the Secretary of State for Economic Development, Jorge Lima; the Director of Projects and Innovation at InvestSP, Thiago Camargo, and the Founding Director of Brenc, Eduardo Varela.
"This protocol of intentions formalises the beginning of joint actions that will be outlined and executed by Petrobras, the State of São Paulo, InvestSP and Brenc, aiming at studying opportunities that encompass all the logistics, labour, financing and regulatory environment necessary for the development of offshore operations, and is aligned with the corporate strategy of strengthening Brazilian production chains and regional vocations, within a business logic and with competitive costs," said Magalhaes.
"Petrobras is responsible for 90% of the country's oil and natural gas production, a large part of which comes from our bases on the coast of Sao Paulo. Promoting actions aimed at investing in and developing the region's offshore potential contributes to the sustainability of our business and the strengthening of the sector in Brazil," said Lilian Barreto, Petrobras' Leopoldo Americo Miguez de Mello Research, Development and Innovation Centre (Cenpes).
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