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Challenges and investment strategies were the topics of a lecture by Roberto Monteiro, PRIO’s CEO at ROG.e
Roberto Monteiro, PRIO’s CEO, participated today in the Strategic Talks panel at ROG.e 2024 and spoke about the evolution and next steps of the largest independent oil and gas company in the country, including the confirmation of an ongoing negotiation for the partial acquisition of Peregrino Field. Moderated by Gabriel Barra, Citi´s Director, the conversation reflected on the growth potential in oil production in Brazil, including new opportunities in the pre-salt and Equatorial Margin – and the role of independent companies in this scenario. They also discussed the company’s news and expectations for the industry in the near future, as well as the challenges that exist along the way. Check out the main topics covered below:
PRIO growth
Monteiro mentioned PRIO’s evolution until reaching a production of 100 kbpd, and what the expectations are for surpassing this value. He addressed the challenges and next steps in the company’s growth journey, highlighting the ongoing commitment to safety and shareholder returns.
The highlight was the possibility of PRIO entering the American market, specifically in the Gulf of Mexico, which, if it occurs, will be a milestone for the company to start investments in the international market. The executive revealed strategies to replicate the success achieved in Brazil and increase operational efficiency.
“Brazil is our focus, but we are starting to look at long-term opportunities in the Gulf of Mexico. There is a new frontier in the American part that can generate a flow of capital and investment opportunities.”
Peregrino Field
The executive confirmed that PRIO is in negotiations with Sinochem for the potential acquisition of an equity interest in the Peregrino Field. “This field is close to our operation, and we believe in a synergy from a trading perspective. Peregrino is an asset that is within the return levels we seek.”
Opportunities in the Brazilian market and regulatory challenges
The potential for growth in oil production in Brazil, with the opportunities opened up in the pre-salt and on the Equatorial Margin, was also discussed in the panel. PRIO’s CEO highlighted that the company’s focus will continue to be the redevelopment of mature fields and stressed that the market is in full development and will have space for all players.
“We leave the new frontiers to the majors, as we strongly believe in segmentation. We are “pure blood” from an oil point of view. As long as it is relevant, we need to produce as much as possible, with maximum efficiency and a smaller carbon footprint in the fields in operation.”
Answering questions about challenges and opportunities related to environmental regulation and licensing, Monteiro commented that, as the market advances, some processes may need to be updated or improved to encourage new investments.
ESG
Monteiro also highlighted that PRIO’s business model was born sustainable, based on operations in mature fields and in advanced stages of development, thus contributing to energy security, minimizing the exploration of new areas and reducing environmental impact.
PRIO’s presence on the third day of ROGe 2024 was not limited to Roberto Monteiro’s panel. With a mega booth located on the 2nd floor of the Main Pavilion, the company carried out several activities, including an arena with many lectures throughout the day. The highlight of this Wednesday was the discussion on the future talent demands for the company, research and development strategy, in addition to the special participation of Victor Ladeira from Instituto Vini Jr., one of the initiatives sponsored by the I?PRIO platform.