The Brazilian economy presents huge and diverse opportunities for the Oil and Gas Industry. There are a number of new initiatives available to help support industry innovation, in particular, the opening of the INOVA PETRO Program.
The INOVA PETRO Program is a joint initiative of several governmental organizations and PETROBRAS. The goal is to foster projects that include research, development and innovation in order to develop Brazilian companies of the oil & gas supply chain industries.
Initiatives in the form of financial support can be up to 90% of the total project budget. The program will provide funds in the form of grants, loans, direct investment and equities. You do not have to be a Brazilian company in order to qualify for available funds; however, the qualifying projects are very fact specific.
There is a deadline of March 20, 2014 for the filing of Letters of Intent in order to be considered for the program.
We are available for further information.
Tiara Bicalho – Innovation Product Manager
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