Exploration and Production of Oil and Natural Gas in Marginal Fields

Raíssa Fernandes Yabiko, Jéssica Matar Antunes and Rosemarie Bröker Bone

Journal of Social Economics, 2015, vol. 2, issue 2, 54-62

Abstract: The objective of this article is to analyze the economic and social impact of oil and gas (O&G) exploration and production (E&P) activities at Alagoinhas (Bahia – Brazil) and Vera Cruz (Bahia – Brazil), where the marginal fields of Bom Lugar and Morro do Barro are located. After initial exploration by Petrobras in the 1990s, these fields were returned to ANP at the Round Zero, and were bided in 2006, during the 7th Round. The production resumption took place only in 2008. Due to the increased hydrocarbons output in both fields, a change in economic conditions of the region happened. Indicators such as the Gross Domestic Product - Added Value (PIBVA) increased; municipalities’ tax revenues were boosted due to O&G royalties. E&P activities stimulated the presence of direct and indirect services providers to the petroleum sector. This scenario made a positive change in the number of people employed, fostering local income and savings possibly. However, investment in social infrastructure is still weak, as health facilities and the number of schools showed no such significant growth.

Keywords: Alagoinhas.; Bom; Lugar.; Vera; Cruz.; Morro; do; Barro.; Exploration; and; Production; of; oil; and; natural; gas. (search for similar items in EconPapers)
Date: 2015
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