More Investments Needed Form Offshore Inspections in Brazil
Claudio Paschoa
June 21, 2013
With the recent Chevron/Frade spill, which has been ongoing for over 25 days, new light was shed on the shortcomings of ANP (The national O&G regulator). To begin with the regulator has only spent around $2.5 million of its allotted $8 million budget for inspection of oil and gas E&P in Brazil. As stated by O Globo, Brazil’s leading newspaper, that amount is about what Petrobras spends yearly in coffee for its employees. Only 3% of the agencies total budged is destined for O&G inspections. All that will most likely change in the near future, hopefully. For this to change there needs to be a change of policy in the Brazilian government regarding the importance of O&G activities inspections.