The paper presents basic concepts on nanotechnology and the use of this in an oil and gas research and development (R&D) center, the Research and Development Center Leopoldo Américo Miguez de Mello of Petrobras (CENPES). The aim of this paper is to present a proposal of an observatory of trends in the area of nanotechnology at CENPES, to generate information, such as the state of the art technologies, technological trajectories, movements of competitors and partners, and aspects relating to regulations and incentives for decision making in the technology management process. The model consists of five steps that should occur in a continuous cycle: literature review, expert consultation, analysis of opportunities and threats, timelines or roadmaps, and monitoring. In conclusion, the proposed observatory includes a set of topics (variables), sources, techniques of competitive technical intelligence and technological foresight, systematized in order to support decision making in technology management.