News from Rio Oil & Gas 2012: Conference opens with plenary session on sustainable development

9/16/2012

News from Rio Oil & Gas 2012: Conference opens with plenary session on sustainable development

BY PRAMOD KULKARNI, EDITOR

RIO DE JANEIRO – Rio Oil &Gas 2012, the leading oil and gas conference in Latin America, opens Monday, Sept. 17 with a plenary session in the afternoon featuring the presidents of Petrobras, Shell, Repsol and Barra Energia.

Petrobras CEO Maria das Gracas Foster will be chairing the plenary session on the topic of “The Role of the Petroleum Industry in Promoting Sustainable Economic Development.” Keynote speakers will be Peter R. Voser, CEO Shell; Antonio Brufau, Chairman and CEO, Repsol; and Renato Tadeu Bertani, CEO, Barra Energia.

The four-day conference attracts over 4,000 delegates from 51 countries to get an insight into E&P activities in Brazil and the regulatory climate, particularly for the booming pre-salt sector. More than 700 technical papers will be presented on upstream exploration, field development and production aspects. The conference will also touch upon renewable energy as well as the refining and petrochemical sector. In addition to the technical conference, Rio Oil & Gas will feature a parallel exhibit across sprawling across 37,000 sq. m in Rio Centro with more than 1,300 exhibits from leading service companies and equipment manufacturers.

The Rio Oil & Gas 2012 conference is taking place in the aftermath of halting of drilling and production at the Chevron-operated Frade field and the upholding of the suspension of Transocean’s drilling operations by Brazil’s Supreme Court. On Friday, Brazil's oil regulator ANP said it will again appeal against Transocean’s suspension due to concerns over falling oil output.

Transocean currently has 10 rigs operating in Brazil, eight of which are being used by Petrobras. Losing the output from these rigs would have "a negative impact" on Brazil's oil and gas production levels "which would fall even more," the ANP spokesman said.

This year Brazil's oil production is on a declining path, due to a "natural decline" in fields which have been producing for some time, according to the ANP spokesman. –  Contributions from Dow Jones News Wires.

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