Financing of R&D and Innovations in Brazil

The Brazilian INOVA Petro program supports R&D and innovation in the offshore oil and gas supply chain. The program shall focus on top-side installations, subsea systems and well equipment.

Published: 16 November 2012

There is a great opportunity also for Norwegian companies to initiate and establish cooperation with Brazilian universities and R&D institutions for development of new technology and products for the offshore oil and gas marked in Brazil.

INOVA PETRO is a joint initiative between BNDES, FINEP and Petrobras with the goal to provide financial support to R&D, technology transfer and innovative development of product, processes and services.

The program entails 3 business lines:

  • Technologies for primary processing of oil and gas in top side installations
  • Technologies to be implied in systems and subsea installations
  • Technologies to be applied in systems and installations of wells

The total program includes loans and grants in the range of 3 Billion Reales where approximately 400 million Reales can be allocated as grants to companies searching for cooperation with universities and R&D institutions. The loans will have an interest rate of 4,5 percent and a payback time of 10 years.

Applications are limited to small companies with an annual turnover of 16 million Reales. Applications for the first tranche of projects are due 1. December 2012. New tranches for applications will follow in 2013.

For more information, please contact Gulbrand Wangen or visit the INTSOK website for more information about the INOVA Petro Program (login required, for INTSOK partners only).