A consortium including the Brazilian subsidiary of Fluor has been awarded an engineering, procurement and construction contract for the onshore Gavião Branco gasfield…
READ MOREBrazil's Energy Industry
in figures
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.
Galp Energia has confirmed more than 10 billion barrels of oil equivalent at the Mopane discovery offshore Namibia.
READ MOREPetrobras sells its stake in the Cherne and Bagre offshore oilfields to Perenco for $10 million.
READ MORESLB has been awarded three contracts by Petrobras for completion hardware and services in the offshore Buzios oilfield.
READ MOREPetrobras has announced a new oil discovery in the ultra-deepwater Potiguar Basin offshore Brazil.
READ MOREMODEC has won a contract to provide FEED for Shell's Gato do Mato FPSO off Brazil, set to produce from an deepwater reservoir.
READ MOREWestlawn has bought a 20% stake in BS-4 block offshore Brazil from Enauta for $300 million.
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A new era for the Lobito terminal
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Karoon Gas Australia announced successful production test results at its offshore Echidna-1 exploration well in Brazil’s Santos Basin on Thursday.
The…
READ MOREBrazil’s 13th bidding round for exploration licences will be held in October, Minister of Mines and Energy Eduardo Braga announced on Monday.
Speaking at the…
READ MORERafael Parrilha, General Director of Bureau Veritas in Mexico, believes the downturn in oil and gas prices in late 2014 and through 2015 will pose serious restrictions…
READ MOREFour Petrobras-operated oil platforms off the north coast of Brazil have halted production following a leak of around 7,000 litres of oil was detected at an…
READ MOREBrazil’s national oil company Petrobras has written off close to $17 billion due to losses from graft and overvalued assets, following a corruption scandal that has…
READ MOREInternational operators Karoon Gas Australia and Pacific Rubiales Energy have confirmed a 213-metre gross oil column in the Echidna-1 exploration well in the Santos…
READ MORELight, 47-degree API oil and gas reservoirs were confirmed at a 2,040-metre well at block AM-T-84 in the Amazon Basin. The hydrocarbons deposits are located from…
READ MOREBrazilian state oil company Petrobras disclosed on Wednesday that it would not sell sub-salt oilfields in a divestment plan aimed at tightening its budget. The fields,…
READ MOREToday Australian exploration company Karoon Gas announced that it has found hydrocarbons at its Echidna-1 well in the Santos Basin nearly 300 kilometres southeast of…
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