feature story Chevron Brasil participates in event on the future of the oil and gas industry

Last Thursday, May 20, Mariano Vela, Chevron Brasil Country Manager, was one of the speakers of the panel “Committed to the Future: Windows of Opportunities” at the 15th IBEF Oil, Gas & Energy Forum 2021. Along with André Araújo, Shell Brasil President and Mariano Ferrari, Repsol Sinopec Brasil President, and moderated by Fernando Potsch, Maintrends BI CEO and IBEF O&G VP the panel discussed the Brazilian oil & gas industry challenges imposed by the lower demand, the drop in oil price scenario, and the discussion on energy transition during pandemic times.

Mariano opened his speech greeting the front-line workers of our industry around the world, recognizing their families support and thanked them for continuing to provide the energy we need every day. The executive highlighted the company's strategy, reinforcing how attractive Brazil is and Chevron’s continuous work evaluating a broad range of existing opportunities in the country.

“Chevron's future in Brazil is focused on the successful exploration of the pre-salt. We acquired six blocks in 2018 and another five in 2019 in the Campos and Santos Basins in line with our growth strategy”, he explained. Mariano also mentioned the upcoming bid rounds opportunities, pointing out that despite the energy transition is a fact, the oil & gas sector will continue to have a relevant role in the energy matrix.

Mariano called on industry partners to work together attracting the necessary investment to explore the full potential of Brazil’s yet-to-find reserves. According to him, only through cooperation, industry can address any technical, logistics or supply challenges.

Chevron Brasil Country Manager stressed the importance of bringing the society together to embrace the challenges of the oil and gas business. "Our industry has to be more present, aggressive on communication, since the impact of our work is vital to meet the society energy needs for years to come", he said. 

“We believe that the future is low-carbon. Chevron is already working to significantly reduce carbon emissions in our global operations. We are also increasing the use of renewables and have invested more than US$ 700 million in low carbon technologies”, he explained. 

On the other hand, Mariano added that even with all investment, it is necessary for companies to reach commercial solutions. "We aim to reduce CO2 emissions by 35% in all of our operations by 2028, but we need to ensure we can be efficient and mindful of the associated costs”.

When asked about the improvements needed for the energy transition to be more effective, Chevron Brasil Country Manager stressed the importance of putting the right teams to work together. “In our Chevron Way values, the most important resource is having the right people in the right place. We continue to invite young professionals to join and lead us through this transformational journey, including digital and other innovation ideas. The selection and retention of the right people is one of the great challenges of our market”, he said.~

Finally, Mariano said that after being in Brazil for more than a century, Chevron is already planning on the next 100 years in the country. “We are completely committed to growing in Brazil through exploration.  For that, we recognize the importance of partners such as Petrobras, among others, to jointly work towards a competitive regulatory and fiscal framework that will better position Brazil to attract new capital”.

Mariano concluded by inviting all young professionals to join the O&G industry and contribute to build the best path forward, securing the production of the energy that the world requires, in a sustainable way.