Brazilian NOC Petrobras and Equinor have begun production on the first two wells of an increased oil production project on the Roncador field offshore Brazil, the…
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.
READ MOREProsafe has won the bidding process for a four-year contract with NOC Petrobras for the provision of its Safe Notos semi-submersible vessel for safety and maintenance…
READ MORECGG has signed a contract to perform 4D seismic work for Petrobras on the Santos Basin offshore Brazil, the French seismic survey services provider announced on…
READ MORESBM Offshore has signed a shareholder agreement with Japan’s Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha for minority stakes of the Alexandre de Gusmão…
READ MOREPetrobras has agreed to sell all shares of four producing onshore fields to Seacrest Capital Group for USD 544 million, the Brazilian NOC announced on Tuesday.
The…
READ MOREYinson Holdings has signed a contract for provision, operation and maintenance of an FPSO with Enauta Energia destined for the Santos Basin offshore Brazil, the…
READ MOREKeppel Offshore & Marine has signed three contracts worth USD 250 million for works on energy-related vessels and trailing dredgers, the Singaporean offshore asset…
READ MORETechnipFMC has signed a contract with Brazilian NOC Petrobras for EPCI works on its Búzios 6 field, the French integrated energy company announced on Monday.
The…
READ MOREWintershall Dea has decided to terminate all its operations in Brazil, the German upstream entity announced on Monday.
The company will close its offices in Rio de…
READ MOREPetrobras has launched an initiative to unlock 20 billion boe in its operated fields by 2030, Brazil’s state-owned E&P company announced on Tuesday.
The RES20…
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