Sector / Oil and gas
- Trend analysis
- Top management workshop
In July 2022, Karoon Energy’s Board of Directors met in Brazil and, in order to contribute to its strategic discussions, the company hired Catavento to interact with the directors. Clarissa Lins – founding partner of Catavento – had the support of partners Bruna Mascotte and Tamara Fain, to conduct a conversation about the Brazilian scenario of transition to a low-carbon economy.
Among the covered topics are (i) the particularities of the Brazilian profile of emissions and energy matrix, (ii) the possibilities for the energy transition in view of the climate commitments assumed and the vast competitive potential for different sources, (iii) the role of regulated and voluntary carbon markets and (iv) prospects for the development of nature-based solutions in the country.
During a visit to Brazil by its global CEO and vice presidents, Karoon Energy hired Catavento to participate in a discussion with its full senior leadership team about global trends in energy transition and the Brazilian scenario. Clarissa Lins, founding partner at Catavento, counting on the support of the partners Bruna Mascotte and Tamara Fain, was invited to share her perceptions about the impacts of the conflict in Ukraine on the pace and direction of the global energy transition.
Notably, Clarissa reinforced that the crisis has placed energy security at the center of the debate, as countries will not renounce the well-being provided by energy sources in the midst of the transition. On the other hand, she stated that the direction of the transition should not be changed, and that it could even be accelerated by promoting a reduction in the countries dependence on imported fossil fuels, in view of the development of local renewable sources.
Clarissa also addressed the pressures from investors, regulators and the scenario in different regions, such as the USA and Europe. Additionally, the expectations for the performance of O&G companies in this context, notably independent E&P companies, such as Karoon Energy were also highlighted. She also listed the role of technological innovations in the transition to a low carbon economy, such as CCUS and hydrogen, as well as nature-based solutions.
Finally, when analyzing the Brazilian context, Clarissa illustrated the country’s comparative advantages in the energy transition. These would be related to the high share of renewables in the energy and power mixes, due to the relevant competitiveness in various energy sources and the opportunities they have to grow in the country. Those should include the O&G sector, if developed in a responsible way and seeking to minimize their greenhouse gas emissions (GHG).
Karoon Energy Ltd (Karoon) is a global oil and gas exploration and production company headquartered in Melbourne, Australia, with country offices in Brazil and Peru. During 2008 Karoon sought to broaden its exploration portfolio and was attracted to the Santos Basin, offshore Brazil by the basin geology, at the same time as the major pre-salt discoveries were being made in Brazil. In July 2019 Karoon announced the signing of a binding sale and purchase agreement (SPA) to acquire an operated 100% equity interest in the BM-S-40 concession containing the Baúna oil field in the Santos Basin offshore Brazil. Karoon is now transforming into a global energy company with new production to underpin profitable and sustainable growth through a broad pipeline of development projects and a focused exploration portfolio.
Source: Karoon’s website