British funds have up to R$ 7 billion to invest in the Brazilian energy sector

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  • Posted on March 23, 2016

    Companies of the electrical energy and oil & gas sectors in Brazil can have access to two UK-based incentive funds, with resources of up to 1,345 billion pounds (equivalent to R$ 7 billion). One of the funds, the Newton Fund, has 45 million pounds (around R$ 245 million), matched in value by the Brazilian government, for training and financing research and innovation projects in Brazil. The other, the Prosperity Fund, has global investments of 1,3 billion pounds (around R$ 7 billion) in several areas, especially in energy. In spite of the initiative being global, Brazil is one of the priority countries.

    According to the UK Ambassador to Brazil, Alex Ellis, in spite of the drop in global oil prices and Petrobras’ delicate financial situation, there are many business opportunities in partnerships in the oil market today. Ellis said that he’s had meetings with the Financial and Shareholder Relations Director at Petrobras, Ivan Monteiro, to deal with opportunities and reminded that the largest british investors in Brazil are in the oil and gas sector. “BG and Shell separately were very large companies in Brazil. Now [with BG’s acquisition by Shell] even more. Brazil, in terms of exploration, is the most important country in the world for Shell in the next few years. It wasn’t a coincidence that the Shell global president [Ben Van Beurden] came to Brazil on the day of the merger”, he said.

    The ambassador still pointed out that there are more that 200 British companies acting in the oil and gas sector, especially in the manufacturing of remote controlled underwater robots (ROV), used in deepwater activities – such as in the North Sea and the Campos and Santos Basin. “The UK will remain a loyal partner to Brazil, especially in the oil and gas sector”, he said.

    Source: Valor

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