Petrobras CEO Invites Japanese Businessmen to Invest in Brazil

Petrobras CEO Invites Japanese Businessmen to Invest in Brazil

Petrobras’ CEO, José Sergio Gabrielli de Azevedo, gave a presentation this Monday (Nov 7) at the Brazilian Chamber of Commerce in Japan (BCCJ), Tokyo, regarding the company’s huge demand for equipment, logistic and infrastructure in its 2011-2015 Business Plan.

In his address, Mr. Gabrielli highlighted Petrobras’ planned investments (US$224.7 billion), the planned increase in production and the opportunities in company’s supply chain. “From 1980 to 2011, Petrobras’ crude oil production had a tenfold increase. By 2020, our oil production will increase from 2.1 million barrels per day (bpd) to 4.9 million bpd”, he said.

According to the CEO, Brazil’s economy is growing faster than the world economy. Additionally, the country’s demand for oil products is growing faster than the worldwide consumption. “We will build another five refineries by 2020, and we will need seaports, airports, drilling rigs, platforms, support vessels, hundreds of wet christmas trees, thousands of valves, etc. Therefore, we need to build a huge infrastructure in Brazil for the years to come”, he said.

In his speech, Mr. Gabrielli invited the Japanese businessmen to invest in Brazil’s development. “Opportunities for the Japanese companies still exist in Brazil. Japanese industries are welcome, but 65% of the capital will have to be domestic,” he warned.

The general manager of Petrobras Japan and BCCJ president, Osvaldo Kawakami, stated that Petrobras is the driving force of Brazilian growth and the maturity and reliability of the country’s economy welcomes Japanese companies to invest in Brazil. “Now it’s the time to get to know the opportunities in Brazil”, he said.

During a press conference held after the BCCJ event, Mr. Gabrielli, Mr. Kawakami, and Petrobras’ Chief Financial Officer, Gustavo Tardin, highlighted the company’s strategy for 2011-2015. The CEO said that the biggest challenge is to get the supply chain on stream. “It’s important to begin output on time and within budget”, said Mr. Gabrielli.

[mappress]

Source: Petrobras,  November 8, 2011