Brazil unveils measures to boost investment in the oil, gas and biofuels sector

Brazil announced new measures to encourage investment in the oil, gas and biofuels sector.

Mines and energy (MME) minister Alexandre Silveira signed a document on Monday creating the Potencializa E&P (exploration and production) program. 

The program involves setting up five subcommittees to analyze the sustainable development of E&P; promotion of the development of marginally economic fields; improvements to licensing rounds; incentives for the expansion of the supply chain for local goods and services; and the development of oil and natural gas resources in unconventional reservoirs.

BRAZIL AND INDIA

On Saturday, the MME published a joint statement with India reinforcing collaboration between the two countries in the energy sector.

As founding members of the Global Alliance for Biofuels, the countries reiterated the crucial role the group will play in positioning biofuels as a key component of the global energy transition. 

This includes ethanol, biodiesel and sustainable aviation fuel (SAF). 

The parties also reaffirmed their commitment to identifying new mechanisms to increase the presence of Indian companies in Brazil, including through new investment opportunities in oil and gas assets. 

And they ratified collaboration in the field of deep and ultra-deepwater exploration in Indian offshore areas.