Oil and Gas

Financing innovative projects, equipments and necessary technology for the oil and gas sector

Inova Petro

InovaPetro is a program that encourages innovation in the oil and gas sector. It is supported by the Brazilian Innovation Agency (FINEP), by the Brazilian Development Bank (BNDES) and by Petrobras. InovaPetro’s major advantage is that its main financing tools are integrated. 

FINEP and BNDES contribute with US$ 767 million each, for a total of US$ 1.53 billion in funding, and Petrobras offers its technical analysis about the viability of submitted projects. A project can be financed in a variety of ways, such as a combination of grants and loans and, in this case, the interest rate only levies over the refundable portion of the financing. 

Projects on the following subjects are eligible for investments:

  • Topside - Process vessels 3-phase gravity separators, electrostatic treaters and encapsulated hydrocyclones;
  • Subsea - Flexible risers and lines and their accessories; and 
  • Well technologies (Intelligent completion systems for wells).


BNDES Oil & Gas

BNDES has a perennial financial line to foster innovation in the oil and gas sector. BNDES O&G is divided into 2 subprograms:

BNDES O&G Structuring (BNDES P&G Estruturante), which provides support for the following:

  • Implementation, expansion or modernization of production capacity;
  • Mergers and acquisition, only for nationally controlled companies;
  • Internationalization, only for nationally controlled companies;
  • Operations to adjust the profile of corporate debt, only for nationally controlled companies;
  • Production of equipment, accessories, facilities, materials and services;
  • Investment plans for innovation;

BNDES O&G Structuring can work through direct support from BNDES or through indirect support, when the risk is shared with another financing institution.

BNDES O&G Automatic (BNDES P&G Automático), which grants working capital to projects not associated with an investment. To be eligible, a company must present a supply contract with an oil and gas company. This subprogram has a limited financing time of 3 years, including a grace period that varies from one to six months.

BNDES instruments can support the acquisition of small technology-based companies or startups or finance specific innovative projects, especially when there is already a contract to supply the technology innovation to an oil and gas company. Both situations enable the increase of R&D activity and the transfer of the new technology to the market. 

FINEM O&G

FINEM is a BNDES program that finances the acquisition of machinery and equipment associated with an investment project. FINEM O&G is specifically focused on the oil and gas sector and works through both direct and indirect support and BNDES can participate with up to 60 percent of the financeable items.

FINEM can support projects such as:

  • Studies and tests; 
  • Processing and interpretation of technical data; 
  • Spending on logistical and technical consulting; 
  • Spending on well drilling; 
  • Development and production; 
  • Improvement and recovery of oil fields; and 
  • Installation, expansion and modernization. 

To be eligible, a company must have headquarters and administration in the country, domestic or foreign control and legal entities. From July 2011 to August 2012, FINEM invested US$ 1.56 billion in 28 projects.