If Brazil's Petrobras is to achieve supermajor status, its mammoth investment in exploration and production will need to be complemented with expanded oil and gas training funding, Petroleum Economist has claimed.

The industry journal reports that the Brazilian firm is continuing to "defy gravity" with an unprecedented five-year investment programme and is reaping the rewards despite generally adverse macroeconomic conditions.

However, it was warned that the company will need to build up a highly skilled workforce to maximise gains from E&P investment, and oil and gas training funds will be key to this.

Elsewhere, the Houston Chronicle reports that despite setbacks experienced by many US operators working in the Gulf of Mexico in the past two years, Petrobras remains on target to bring the Cascade and Chinook prospects on stream in the region by mid-2010.

Speaking to reporters, Cesar Palagi, a Gulf of Mexico asset manager for the company, said the projects were "very much" on budget.

Oil and Gas Directory: Training and Development