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Oil and gas exploration in Brazil's pre-salt fields presents many technical challenges that offer a unique innovation opportunity for IT developers, according to the latest BNamericas Oil & Gas Intelligence Series report.
State oil company Petrobras plans to invest around US$200bn over the next four years, and 1-3% of the total (US$2bn-US$6bn) will go to IT, Teradata industry consultant partner for Latin America, Américo de Paula, is quoted as saying in the report.
The report cites the opinion of several industry experts who indicate that the pre-salt's greater depths of water, remote locations and geological formations will require previously unproven or infrequently used techniques.
"This is where the opportunity lies to create new applications and systems that are at the cutting edge of what is being done in integrated data management systems and predictive analytics," the report says.
Brazil's legislative environment also favors technological innovation, dictating that Petrobras earmarks part of its income for research and development in oil and gas.
Additionally, as part of national industrial development plan Brasil Maior, the country has exempted IT firms from paying the 20% labor tax.
Meanwhile, the legal and regulatory environments of Latin America's other oil producing countries, as well as their largely traditional deposits, make IT innovation in those areas unlikely for the time being.
Follow this link for the report in full.