Optimism Abounds at Rio Oil & Gas 2016

Last week, our Brazil team was excited to exhibit at Rio Oil & Gas 2016, the largest energy industry trade show in Latin America. The 4 day event was attended by over 34,000 visitors and 540 exhibitors.

The President of Brazil, Michel Temer, opened the show with optimism and excitement. During his speech, President Temer praised the work of the new president of Petrobras, Pedro Parente, and highlighted the recent progress of the market value of Petrobras. As a longtime provider of global traceability solutions to Petrobras, we at Geoforce couldn’t have been prouder.

Jorge Camargo, president of the Brazilian Petroleum Institute, remarked during the closing ceremonies, “We leave Rio Oil & Gas with a sense of optimism because of all we hear from the government.” Mr. Camargo noted that pre-salt is an extraordinary opportunity to raise the local industry to a new level and turn Brazil into a major exporter of goods, services and offshore technologies. 

As the manager of Geoforce’s business in Latin America, the shared optimism from President Temer and Mr. Camargo was very encouraging. While it is clear the oil and gas industry has been suffering worldwide, it is just as clear that growth will soon resume.

Geoforce do Brasil has been in Brazil and Latin America since 2013 serving companies that range from chemical vendors to Oil & Gas majors, equipment rental companies, drilling contractors, and mining operators. In the nearly 4 years we’ve been here, the future has never been brighter. For instance, Petrobras’ divestment plan opens up opportunities for the sector as other oil & gas companies buying assets from the state will expand their business in this region.

We were glad to hear the widespread optimism at the show, and look forward to helping make field operations less chaotic for Latin American companies in the years to come!