Helena Inniss, executive director of Kronus Geological Services, talks to The Energy Year about the current state of geological consulting in the region and new…READ MORE
Brazil's Energy Industry
Oil reserves11.9 billion barrels
Oil production2.99 million bopd
Gas reserves300 bcm
Gas production24.3 bcm
Brazil: A Model for Offshore Development
Brazil’s oil and gas industry has grown significantly due to the country’s massive hydrocarbons potential. The nation has the second-largest reserves in South America after Venezuela, with more than 95% of its oil and gas offshore. The nation boasts the largest recoverable ultra-deep oil reserves in the world, with the International Energy Agency forecasting that 50% of the world’s offshore oil could come from Brazil in 2040.
The industry is overseen by the National Agency of Petroleum, Natural Gas and Biofuels, known as ANP, which hands out exploration and production licences and ensures compliance with state regulations. Hydrocarbons are produced predominantly by Brazilian NOC Petrobras. The company held a monopoly on the industry for around 40 years until the market opened up in 1997. Since then, the sector has attracted super-majors such as Shell, BP, Chevron and Exxomobil and local independents.
A rise in production from the prolific Santos and Campos basins has also played a part in attracting IOCs to Brazil’s downstream sector. To attract FDI and participation in the market, Petrobras recently began selling off a predominant part of its refining capacity. While Petrobras remains the largest player in the local downstream sector, it has been joined by international players Repsol, Shell and Chevron.
Due to the country’s large size, a vast pipeline infrastructure is necessary to link the various oil-producing regions, refineries, terminals and distribution points. Most of the country’s pipelines are located in the southeast and northeast of the country. The nation’s midstream sector is supervised and controlled by the National Centre for Logistics Management.
While still one of the world’s largest oil and gas producers, Brazil’s renewable energy sector has seen titanic growth and accounts for around 80% of the country’s energy mix, predominantly through its hydropower stations and biofuels and waste facilities. Brazil is the third largest hydroelectricity producer after China and Canada. The government is looking to grow the mix of solar and wind facilities to meet its large potential and avoid losses caused by droughts.
Enauta Energia has made new oil discoveries at its producing Atlanta field offshore Brazil, the Brazilian oil and gas player…READ MORE
Rado Antolovic, CEO of Drydocks World, talks to The Energy Year about new momentum in rig and platform conversions, the…READ MORE
Brazil reportsMore reports
TechnipFMC has signed an EPCI contract worth more than USD 1 billion for integrated EPCI works at Brazil’s BM-C-33 offshore…READ MORE
Petrobras’ Anna Nery FPSO has begun production at the Marlim and Voador offshore fields on the Campos Basin in Brazil, the…READ MORE
Exploration and Production in Brazil’s Pre-Salt Polygon 2019
Transocean has been awarded a contract for the provision of an ultra-deepwater drillship in Brazil, the American offshore…READ MORE
Petrobras has begun production at the offshore Itapu field in Brazil ahead of schedule, the Brazilian NOC announced on…READ MORE
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Brazil’s oil and gas industry has grown significantly due to the country’s massive hydrocarbons potential. The nation has the second-largest reserves in South…READ MORE
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