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10 reasons to invest in a career in mature fields: opportunities and challenges
The oil industry remains strong, with national production reaching 4.4 million barrels per day (b/d) by the end of 2024, while world demand exceeds 100 million b/d. In this scenario, companies such as PRIO, Brazil’s largest independent oil and gas company, have made a name for themselves by revitalizing declining fields that would have been abandoned by former operators.
Using advanced recovery techniques, the company can extend the useful life of these fields instead of drilling new areas, thus creating new opportunities and innovative ways of operating in the sector. In its 10th anniversary year, here are 10 reasons why the segment is an excellent career choice.
1 – Global demand on the rise and a hot market
Global demand for oil and gas continues to rise, with OPEC projecting an increase in consumption over the next 20 years. Between 2025 and 2029, Brazil is expected to receive R$ 609 billion in investments in oil and natural gas production, with R$ 140 billion in 2025 alone, according to the Brazilian National Agency for Petroleum, Natural Gas and Biofuels (ANP).
The sector could generate up to 400,000 new jobs by 2033, with investments of US$ 170 billion. Since 2013, national production has grown, with exports increasing almost fivefold and imports falling by around 30%, according to the Brazilian Petroleum and Gas Institute (IBP).
2 – New vacancies and opportunities for those who want them
The oil and gas sector in Brazil could generate up to 911,000 direct and indirect jobs by 2029, accounting for a significant increase on the 616,000 registered in 2023, according to the Brazilian Association of Oil Good and Service Companies. The sector has great potential to improve the economy and quality of life, as exemplified by Macaé (RJ), where the average monthly income is six minimum wages, according to the IBGE Census of 2021.
Companies like PRIO invest in training to prepare their workforce. In the last three years, PRIO has supported the Reação Offshore program, a partnership with Firjan Senai, which has trained around 480 people in technical and socio-emotional skills, including certified professionals and socially vulnerable individuals.
3 – Opportunity to make a difference
The oil and gas industry faces the challenge of increasing the recovery factor of fields, i.e. extracting more oil from each reservoir. In Brazil, this factor ranges from 20% to 30%, while in Norway it exceeds 50%, showing the great untapped potential. Professionals looking for innovative solutions to maximize recovery have an excellent opportunity to make a difference, contributing directly to increased production and efficiency in the industry.
4 – Long-term impact
Oil production in Brazil not only guarantees energy supply and reduces the need to import oil, but also boosts the economy. According to the ANP, a 1% increase in the recovery factor of mature fields could generate up to R$ 26 billion in investments, as well as over R$ 16 billion in royalties. In 2023, mature fields generated R$ 6.5 billion in royalties, which go to the Federal Government, producing states and municipalities. These funds are invested in core areas such as infrastructure, education, health and culture, directly benefiting the communities involved.
5 – Environment and sustainability as the basis
Oil production can be sustainable and is crucial for the advancement of energy transition technologies. Even in ambitious scenarios such as the IEA’s NZE, fossil fuels will remain until 2050. In the E&P industry, emissions account for only 5.5% of the energy industry and 1% of the total national level, according to the SEEG platform.
In mature fields, sustainability is embedded in the concept, since production does not involve exploring new fields, and the increase in production and lifespan of fields about to be abandoned reduces CO2 emissions. Moreover, companies like PRIO invest in socio-environmental projects such as environmental education and mariculture. In recent years, PRIO has invested over R$ 130 million in over 70 initiatives.
6 – More efficiency
Working with mature fields requires a balance between production and cost, due to the natural decline of these fields. To ensure economic feasibility, companies need to adopt innovative and secure contracts, as well as strategic partnerships and creative solutions, since the market does not follow the pattern of the big exploration companies. The main indicator of operational efficiency is the lifting cost — the cost of producing a barrel of oil. In the case of PRIO, this cost started at US$ 44 and currently has fallen to US$ 9, demonstrating the company’s efficiency.
7 – Innovation as part of everyday life
Mature fields are a laboratory for innovation, always looking for solutions to improve production in mature fields or make distant fields feasible. PRIO, a pioneer among independent oil companies in Brazil, has implemented the tieback solution, which connects new fields to existing infrastructure, reducing environmental risks, CO2 emissions and costs.
The Phenix Project, completed in July 2021 with an investment of US$ 45 million, connected the Polvo and Tubarão Martelo fields, resulting in a 39% decrease in emissions between 2021 and 2023, a 200% increase in self-generated energy, 66% less diesel consumption and a 8% increase in production. PRIO will soon carry out a new 35 km tieback, linking Wahoo (ES) to Frade (RJ).
8 – Oil is also synonymous with more culture, sport and education
Oil also boosts culture, sport and education in Brazil. Part of the funds generated by the activity are reinvested in projects that benefit thousands of people. I Love PRIO, the support and sponsorship platform created by the Rio de Janeiro company, has already impacted over 80,000 people and allocated more than R$ 100 million to cultural, musical and sports initiatives. In addition to supporting society, employees have a guaranteed participation in all the sponsored projects.
9 – Verticalization as a control strategy
Verticalization increases the complexity and training of the team, broadening the opportunities for development within the company.
To protect itself from market fluctuations, PRIO centralizes its equipment and services, controlling the full process, from drilling to delivery to the end client. The company has 3 FPSOs, 1 platform, a multipurpose vessel, a drilling rig and its own trading company, which makes it more resilient to price changes and guarantees its global operation.
10 – Physical, mental and economic health
PRIO goes beyond gyms in corporate buildings and platforms, offering benefits that foster physical and mental health. The company offers nutritional, psychological and physical support, with rate measurements and bioimpedance. Over 75% of employees take part in activities such as shiatsu, jiu-jitsu, functional gymnastics, yoga, volleyball, running and gym, and also benefit from the sporting events that the company sponsors. Furthermore, employees can withdraw part or 100% of their annual bonus in company shares, with differentiated values, becoming partners and benefiting directly and financially from the results achieved. Currently, more than 90% of employees are partners.