Brazil's Oil Prospectivity Unveiled - Eliane Petersohn Calgary, Jun, 12st 2018 Country Market Seminar - ANP
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Brazil’s Oil Prospectivity
Unveiled
Calgary,
Eliane Petersohn
Jun, 12st 2018
Chief Geologist
Country Market Seminar
Outline
1 Brazil’s Current State and Prospectivity
2 Latest Auction Results
3 Open Acreage
4 New Licensing Rounds in Brazil
5 Conclusions
Outline
1 Brazil’s Current State and Prospectivity
2 Latest Auction Results
3 Open Acreage
4 New Licensing Rounds in Brazil
5 Conclusions
Brazil’s Current State
Sedimentary Area: 7.5 million km2
Area under concession
~ 280,000 km2
335 Blocks
431 fields
Production
(Mar, 2018)
Oil 2.56 million barrels/d
Natural Gas 107 million m3/d
Proven Reserves
(Dez, 2017)
Oil 12.8 billion barrels
Natural Gas 367 billion m3
10th largest oil producer in the
world and the largest in Latin
America
Brazil’s Current State
1998 2018
Production (Dez, 1998) Production (Mar, 2018)
970 thousand bbl/d 2.56 million bbl/d
30 million m3/d 107 million m3/d
Oil Export Crude Oil Export
(2000) (Feb, 2018)
18.68 bbl/d 0.9 million bbl/d
Brazil’s Prospectivity
Conventional
Pre-Salt Onshore
Offshore
High quality Carbonate
Mature Basins
Reservoirs underneath the (Remaining Potential)
salt layer Eastern and Equatorial
Margin New Frontier Basins
High well productivity Solimoes Basin: Potential for
Potential for oil discoveries from
more than 30,000 bpd in the the Upper Cretaceous to light oil accumulations
beginning of production Paleogene turbidite reservoirs
Paleozoic and Proterozoic
Potential for giant and supergiant basins: gas prone
discoveries
Onshore New Frontier Basins
Parnaiba
Amazonas Basin
Production
Solimoes 6.1 million m3/d
Parnaiba
Parecis
Solimoes Sao
Francisco
Basin
Producing basin
and potential for
light oil and natural
Parana
gas discoveries Other basins
potential for natural
Solimoes Basin production (April/18)
gas discoveries
Light Oil ~21 thousand bbl/d
Natural Gas ~14.2 million m3/d
Boe: ~110 thousand bbl/d
Parnaiba Basin
Area under concession: ~78,800 km2
7 natural gas fields
Four among the onshore Brazil’s top 20 producers
Natural gas production
~6.1 million m3/d (jan/2018)
Gavião Caboclo Gavião Branco Norte
Gavião
Branco
Gavião
Preto
Gavião Vermelho
Gavião Azul
Gavião Real
Potiguar
Onshore Mature Basins
Reconcavo, Potiguar,
Sergipe-Alagoas
Sergipe-Alagoas and Espirito Santo
- Advanced exploration stage
Reconcavo
- Oil & Gas Infrastructure available
- Excellent opportunity for small and medium-sized
companies
- Recent discoveries
- Remaining Potential
Espirito Santo
Outline
1 Brazil’s Current State and Prospectivity
2 Latest Auction Results
3 Open Acreage
4 New Licensing Rounds in Brazil
5 ConclusionsBrazil’s 15th Licensing Round
22 blocks were acquired
(Total area 16,400.30 km²)
12 winning companies from
11 countries
The largest signature bonuses
in concession bidding rounds
ever (R$ 8 billion)
A variety of operators and
a geographic diversityBrazil’s 4th Pre-Salt Auction
The results demonstrate that
majors Equinor, ExxonMobil,
Shell, BP, and Chevron are
long-term investors in Brazil
The 4th Pre-salt Auction raised
R$ 3.15 billion in signing
bonuses and R$ 738 million in
planned investmentsOutline
1 Brazil’s Current State and Prospectivity
2 Latest Auction Results
3 Open Acreage
4 New Licensing Rounds in Brazil
5 ConclusionsOpen Acreage Continuous offer of blocks and mature fields. Companies can bid on blocks not sold in previous auctions. Applications can be submitted anytime and not just at designated points. Companies do not need to wait for the regular bidding rounds. It gives more flexibility to the industry and it will promote exploration activity in onshore areas where there are more small and medium size companies. And, by offering companies the freedom to choose exactly the areas they want to explore the government has a better chance to bring serious energy investors.
Open Acreage
1st Wave
Area: 14
346,035 km² Mature
fields
884 15
Sedimentary
Blocks basins
Blocks not awarded in the 15th Bidding Round are
included
722 blocks in 9 onshore basins
162 blocks in 6 offshore basinsOpen Acreage Single registration Single participation rate with reduced value Complete technical data package will be optional Reduction of the financial guarantee for the Minimum Exploratory Program – 30% of the total amount Reduced signature bonus for mature basins (R$ 50,000) Local content onshore: Exploration 50% / Production Development 50%
Open Acreage
special commission
1st Wave Schedule publishes the
schedule
Tender Protocol
and Contracts
Publication
Registration to Open
Public Hearing
Acreage begins July, 19th Auction
May, 2nd June, 20th
2018
ANP has 90 days from the submission of each
offer to execute the auction
Beginning of the enrollment.
Companies can submit an interest
statement for any blockOpen Acreage
2nd Wave
Deadline to disclosure parameters
and rules
December/2018
1,054 blocks
Total Area: 441,400 km2
Offshore Areas
Foz do Amazonas, Para-Maranhao Onshore New
Barreirinhas, Ceara Frontier Basins
Potiguar Solimoes
Pernamubo-Paraiba Amazonas
Sergipe-Alagoas Parecis
Jacuipe, Camamu-Almada São Francisco
Jequitinhonha, Espirito Santo Parana
Santos and Pelotas TucanoOutline
1 Brazil’s Current State and Prospectivity
2 Latest Auction Results
3 Open Acreage
4 New Licensing Rounds in Brazil
5 ConclusionsBidding rounds schedule
(Concession)
(Concession) (Concession)
Auction Auction
September, As from 1st 3rd
June, 7th
28th Nov Semester Quarter
2018 20195th Pre-salt Bidding Round
Sudoeste de Public session for
Tartaruga Verde
submission of bids:
September the 28th, 2018
Saturno
Titã This auction will include 4 blocks:
Saturno, Tita, Pau-Brasil and
Sudoeste de Tartaruga Verde
Pau-Brasil
Unrisked oil in place volume (P50)
surpasses
17 billion barrels5th Pre-salt Bidding Round
Titã
Saturno
Base of Salt
Depth Structural Map
Dione
25 km5th Pre-salt Bidding Round
SW Dione Saturno Titã NE
Arbitrary Line
-3,000
-5,000
Depth (m)
-7,000
-9,000
Survey: 0264_BM_SANTOS_FASE_VII_B – Courtesy of CGG
5 km5th Pre-salt Bidding Round
SW Dione Saturno Titã NE
Arbitrary Line
-3,000
-5,000
Depth (m)
-7,000
-9,000
Survey: 0264_BM_SANTOS_FASE_VII_B – Courtesy of CGG
Sea Bottom Base of Salt (Aptian) Basement
5 km
Top of Salt (Aptian/Albian) Base of Sag (Aptian) Fault5th Pre-salt Bidding Round
Dione Prospect
-3,000
-4,000
Depth (m)
-5,000
-6,000
-7,000
0 3 km
Survey 0268_BM_SANTOS_FASE_VII_B – Courtesy of CGG: Arbitrary Line (Fast Track)What´s up for 2019?
6th Pre-salt Auction & 16th Bidding Round
16th Bidding Round
6th Pre-Salt Licensing Round
Cruzeiro do Sul
Aram
BumerangueBidding Rounds Schedule
Sector Round 16
2019 Area under evaluation for Round 16
Sector Round 17
2020 Area under evaluation for Round 17
Sector Round 18
2021 Area under evaluation for Round 18Outline
1 Brazil’s Current State and Prospectivity
2 Latest Auction Results
3 Open Acreage
4 New Licensing Rounds in Brazil
5 ConclusionsConclusions
Brazil has highly promising oil prospectivity and wide diversity of plays. It has been
increased its oil production and it has geological potential to be in the Top 5 oil
producers in the world.
In 2018 ANP is starting the open acreage process which will allow companies to have
more flexibility to orchestrate deals with the Brazilian government and access to almost
2,000 blocks (~800,000 km2).
It aims to make the Oil sector more dynamic and to increase exploration and
production activities in the Country.
Beyond these, there will be one more Pre-Salt Auction in this year; new bidding rounds
under concession and production sharing in 2019 and ANP has just released sector’s
schedule for 2020 and 2021.National Agency of Petroleum, Natural Gas and
Biofuels
ANP
Eliane Petersohn
epetersohn@anp.gov.brYou can also read
