Valoração de tecnologia microbiana para aplicação em recuperação avançada de petróleo utilizando um modelo adaptado

Abstract

The monetary valuation of new technologies plays an essential role in the process of transferring this type of intangible asset from universities to companies. In the literature, the approach to the valuation methods used is recurrent, especially in terms of adequacy to the specificities of the asset in analysis, consistency, and reliability. Given the specificities of intangible assets, the availability and reliability of data, and the complexity of a valuation process, there is no widely accepted technology valuation method for application in all cases. Previous authors recommend that new methods be proposed or adapted from the perspective of correctly measuring a fair monetary value (Tipping; Zeffren; Fusfeld, 1995; Baek et al., 2009). Assumption. Based on the multidimensional theoretical view of technological innovation, this thesis assumes that only accounting information is insufficient for valuing new technologies. Goal. Propose a hybrid model for evaluation and monetary valuation of technologies applied in Advanced Oil Recovery (MEOR) in mature Onshore fields. developed at a public university in Brazil. Justification. The literature review found an absence of at least one academic study on the valuation of MEOR technologies despite their economic and environmental importance. These technologies, in general, contribute to the expansion of the oil supply by reactivating mature and marginal onshore fields, together with new fields. Methodology. The model used is an adaptation of the methodology called Technology Valuation Thermometer (TVT), initially proposed by Oliveira (2020), and added to the approach of the authors Park, Y. and Park, G. (2004). The first stage consisted of an assessment of the technology based on its level of development and its framing in a matrix of Technological Maturity Levels (TML) constructed from the TRL (Technology Readiness Levels) and the relative importance of the degree of innovation, the potential market and technical capacity of the technology developer team, as they influence the monetary value. For this analysis, the Analytic Hierarchy Process (AHP) technique was used to collect, interpret, and classify information from experts. The second stage consisted of measuring the monetary value itself using correlation and linear regression. The model was tested in the valuation of the MEOR PWX-BA2021/SXG-BA2021 technologies, developed at the request of the company Petrogal Brasil S.A. in the laboratory of the Interdisciplinary Center for Energy and Environment (CIENAM) and the Laboratory of Biotechnology and Ecology of Microorganisms (LABEM) of the Institute of Health Sciences (ICS) of the Federal University of Bahia (UFBA), in partnership with the Federal Institute of Education, Science and Technology of Bahia (IFBA) and the Superior Institute of Petroleum and Gas (ISPG). The PWX, Produced Water Xanthan, is a chemical metabolite that results from the flooding process to obtain Enhanced Oil Recovery (EOR). SXG, known as xanthan gum, is a polysaccharide synthesized from the phytopathogenic bacteria Xanthomonas campestrisand is of great interest to the oil and gas industry due to its high rheological capacity. Results and contributions. The research results proved the capacity of the proposed model to value new MEOR technologies developed in Brazil in universities at any level of the technological maturity scale. The existence of structural relationships between the technical and market dimensions that emerge from the process of innovation and technology diffusion was confirmed. Such relationships have a strong influence on the monetary value of the technology. The qualitative analysis resulted in a classification of the three relevant factors according to the influence they exert on measuring monetary value –market (45.45%), degree of innovation (45.45%), and technical and entrepreneurial capacity of the team of technology developers (9.1%). In the quantitative analysis of the technology, three levels of expected recovery factors of 10%, 19%, and 25% created the respective access fees: U$611,836.05 and U$662,824.75, plus a 5% royalty (licensing); U$6,338,621.48 and U$6,866. 864.41 (assignment).