Earlier this month, Petrobras took a step forward in the sale of its participation in two deep-water concessions in the post-salt, Polo Golfinho and Polo Camarupim in the Espírito Santo Basin. The move is in accordance with Petrobras’s divestment guidelines, aiming to optimize its portfolio and improve capital allocation in
Oil production in Brazil reached 1.018 billion barrels in 2019, an increase of 7.78% YoY. As for natural gas, total production came in at 44.724 billion cubic meters for the year, an increase of 9.46%. Pre-salt production was 633.980 million barrels of oil and 25.906 billion cubic meters of natural
With the approval of important structural reforms and the government’s intention to completely overhaul the O&G agenda, Brazil’s business environment for E&P is set to take off. We expect regulatory improvements related to the pre-salt and environmental licensing, as well as increased exploration efforts, a stronger focus on the decommissioning and
Due to the oil spill that hit the Brazilian coast, mainly affecting the Northeast region, and in order to contribute to the training and preparation of companies and research institutions for emergency situations, ANP is encouraging the realization of R&D projects related to the following themes: Oil dispersion modeling in
The National Council for Energy Policy held its last meeting of the year yesterday (12/12). During the meeting, the council approved the creation of the Committee for Revitalization of Exploration and Production Activities for Oil and Natural Gas in Onshore Areas, within the sphere of the REATE 2020 Program. The
Executives from Petrobras announced that the Brazilian oil major could actually put billions more in assets up for sale over the coming years, including additional E&P assets.
The new version of the Permanent Offer Tender is subject to public consultation as of November 29, 2019, followed by a public hearing on February 2, 2020. The current version, published in May 2019, covers 600 exploratory risk blocks and 14 areas with marginal accumulations. However, in September of this year, the 1st Permanent Offer cycle took place, during which 33 blocks and 12 areas with marginal accumulations were scooped up. Thus, the new announcement will offer 740 blocks (567 from the previous announcement and 173 new ones) and three areas with marginal accumulations (two from the previous offer and the Juruá area, which was returned to ANP by Petrobras).
Brazil’s overall production totaled 3.792 million boe/d, including approximately 2.964 million bbl of oil and 132 million m³ of natural gas. Oil production increased 1.3% MoM and 13.4% YoY, while natural gas production rose 2.1% MoM and 12.4% YoY.
According to a report published by energy consultancy Rystad Energy, Petrobras is set to become the world’s largest O&G producer by 2030. During 2019, Petrobras has moved from the world’s fifth largest oil producer up to third place, behind Russia’s Rosneft and China’s PetroChina. Rystad estimates that Petrobras’ production of
Resolution No. 23 was signed by the Presidency of the Republic on Tuesday (19). The document creates a working group (WG) that will deal with the exploration and production of oil and natural gas on the extension of the Brazilian continental shelf, as announced by Mines and Energy Minister Bento Albuquerque during the
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