Offshore and Subsalt Discoveries in Brazil

Dec. 22, 2011 - PRLog -- Brazil has recorded the most oil and gas discoveries in 2011 to September 2011. The country has recorded 19 discoveries in the current year out of a total of 109 discoveries globally. Of the 19 oil and gas discoveries in Brazil, 17 were made in offshore basins in Brazil’s subsalt region. Brazil’s Campos basin was the site of eight discoveries, followed by the Santos basin and Espirito Santo basin with five discoveries each.

Brazil’s national oil company Petróleo Brasileiro S.A. (Petrobras) maintains clear dominance over the entire exploration and production activities in the country’s offshore and subsalt plays. The company contributes the most in terms of production volumes, investments and exploration. It holds the highest number of active new exploration and extension licenses in all three subsalt basins: Santos, Campos and
Espirito Santo.

The operations of Petrobras are backed by Brazil’s government. Under a regulatory decision by the Brazilian petroleum agency, Petrobras is set to be an operator across several blocks in the subsalt prospects and the company will maintain a minimum 30% equity stake in any future block licenses. This is in addition to participation in the licensing rounds conducted by Brazil’s National Petroleum Agency (ANP), (Agência Nacional do Petróleo).

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The total oil and gas production from Brazil’s Santos, Campos and Espirito Santo basins was about 730.5 MMboe in 2010. Amongst the top fifteen fields in these basins, Roncador ranked first with production of
129.7 MMboe. This was followed by the Marlim Sul, Marlim, Marlim Leste and barracuda fields, with production of 99.1 MMboe, 95.4 MMboe, 56.4 MMboe and 40.8 MMboe, respectively. Of the top fifteen fields, fourteen are located in the Campos Basin and one in the Espirito Santo basin. The state owned national oil company, Petroleo Brasileiro S.A. achieved the highest production in 2010, followed by Royal Dutch Shell Plc and Chevron Corporation

Floating Production Storage and Offloading (FPSO) units are playing a key role in subsalt development in
Brazil. As of 2011, Brazil has 26 FPSO units operating with an annual crude oil production capacity of 1,067.3MMbbl and an annual natural gas production capacity of 806.7bcf. There are also 14 FPSO units that are expected to become operational during 2011–2014.

“Offshore and Sub-salt Discoveries in Brazil - Market Analysis, Competitive Landscape and Production Forecasts to 2015”, is the latest report from industry analysis specialists GlobalData, offering comprehensive information on the Brazilian offshore and subsalt market and details on discoveries, exploration blocks and production forecasts. It highlights the key issues and trends in the Brazilian offshore and subsalt market and provides an in-depth analysis of key Brazilian offshore and subsalt discoveries, exploration blocks, exploration acreages and production figures. The report also focuses on the competitive landscape of key companies operating in the region

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