DCED Recruiting PA Companies For Oil And Gas Expo, Business Opportunities In Brazil

Harrisburg, PA - To expand international opportunities for Pennsylvania businesses, the Department of Community and Economic Development is recruiting companies to participate in the Rio Oil & Gas Expo and Conference 2008, which will be held in Rio de Janeiro, Brazil, in September.

The conference, considered the summit for companies that do business with the oil and gas industry in South America, is scheduled for Sept. 15-18. DCED will provide participating companies with pre-show market research and a customized itinerary of meetings with business prospects at the show. Participating Pennsylvania firms will have the opportunity to place company information in the show directory and display product information and catalogs.

Brazil has been aggressively pursuing the discovery of oil in recent years, mostly in off-shore deposits. The country lays claim to 14 billion barrels in proven oil and gas reserves, with an additional 5 billion to 8 billion barrels discovered in the Tupi Field this past November. Recent discoveries off Brazil's southeastern coast have been estimated to add another 14 billion to 45 billion barrels to the country's reserves.

"Now is the time to explore this potentially lucrative market," said DCED Secretary Dennis Yablonsky. "Brazil is importing more than ever before due to its strong currency and sustained economic growth, particularly in the energy sector. Brazilian investments in energy projects are expected to exceed $100 billion over the next five years, and we want Pennsylvania firms to have the opportunity participate in this emerging trend."

Pennsylvania's trade representative in Brazil recommends that Pennsylvania companies that supply the oil and gas industry contact DCED to determine product competitiveness for the Brazilian market.

The participation fee is $400; delegates are responsible for their travel and lodging costs. Participation is limited to the first 10 qualifying companies. The application deadline is June 13. Opportunities for financial assistance from DCED to help offset the cost of this mission may be available to qualifying companies. For more information, contact Janet Kolokithas at DCED's Center for Trade Development via jkolokitha@state.pa.us or 717-346-0178.

SOURCE: Oil & Gas Expo and Conference 2008