09/09/2008 14h34
Norway may invest US$ 3 billion a year in Brazil
Valor Econômico - 09/09/2008
Norway, whose adopted model for oil exploitation has been seen by several sectors of the government as a parameter for the exploration of the Brazilian pre-salt stratum, thinks that Brazil is right to discuss the ideal system to get hold of its wealth, but it hopes that the decision is fast and does not hinder the competitiveness that has marked the exploration model in the country since 1997. The Norwegians' ambition is to become the Brazil's biggest partners in the oil industry, investing up to US$ 3 billion a year in the country in the next three years. To show this willingness to invest, the official pavilion of the country in the2008 Rio Oil & Gas fair, which opens on the 15
th, is going to bring a record delegation of 53 companies. The strategy of Norway, the 5th biggest world oil exporter and where oil represents 25% of the economy, includes having an incubator in Brazil for companies interested in entering the Brazilian market. It currently has 11 companies - among which SN Power, connected to the electric energy sector, already with ambitious investment programs. In the opinion of Norway Consul for commercial matters in Rio de Janeiro, and director of the Innovation Norway for Latin America, Erik Hannisdal, a holding of the Norwegian equivalents to BNDES and Finep, only with partnerships Brazil will be able to invest up to US$ 1 trillion to make the wealth of the pre-salt viable. Present in 35 countries, Innovation Norway has one of its biggest offices in Brazil, according to Hannisdal, with a staff of ten specialists assisting companies that have registered to enter the Brazilian market. Besides SN Power, which has already revealed the intention of investing R$ 2 billion (US$ 1.23 billion) until 2010 to produce 600 megawatts of hydroelectric and aeolic energy here, the director of Innovation said that at least another incubated company, Sintef, of the research and development area, is already ready to enter the market. According to a pamphlet of the own company, it is the biggest group of research in Scandinavia, present in 55 countries and that now intends to enter the Brazilian market. Large Norwegian companies are already present in the Brazilian oil market, whether renting rigs, whether exploiting oil, like StatoilHydro, a kind of local Petrobrás (open capital), which has five areas of concession in Brazil, including three next to the pre-salt region. Norway has also Petoro, a 100% state-owned company, created in 2001. It invests in the production of oil in the country but does not operate it, passing the operation to partners. Its profits are invested in a fund created to provide for future pensions. Petoro is the model that the Brazilian government has been talking about copying, including the initiative of investing the results in education.
