Oil and Gas E&P Outlook -2012

An Expert's View about Energy in Brazil

Posted on: 29 Nov 2012

Brasil Energia magazine, http://www.energiahoje.com/assine , recently published its 2012 Oil and Gas Outlook Edition. This International Market Research Report summarizes portions of Brasil Energia’s Oil and Gas Outlook. For a complete report or to sign up for a subscription to their monthly or online publications and reports, please contact Brasil Energia at: atendimento@brasilenergia.com.br


The increasing number of oil companies in Brazil’s oil and gas sector has increased exploratory drilling in a wide variety of locations throughout Brazil. The number of exploratory wells being drilled in Brazil during 2012 is projected to increase as follows: there will be 188 exploratory wells by the end of 2012, of which 87 will be offshore and 101 will be onshore. In 2011, there were 156 exploratory wells of which75 were offshore and 81 were onshore. Petrobras, as is to be expected, will be the operator for most of the exploratory wells in Brazil’s offshore and onshore sedimentary basins. Of the 87 offshore exploratory wells expected in 2012, Petrobras will drill 66 of those wells. Petrobras’ wells will be concentrated in the Santos Basin. Additionally, in 2012 and beyond, Petrobras intends to intensify its exploratory drilling activities under “Varredura” (sweep) Program that was started in 2009 in the Campos basin. The objective of this Program is to discover new petroleum reserves among fields that are already in production. In total, Petrobras intends to drill 16 exploratory wells under this Program in the Campos Basin in 2012. Additionally, under the Program, 67 wells are projected to be drilled in the Campos Basin by 2015. Petrobras has already discovered 2.2 billion recoverable barrels of oil under the “Varredura” Program. Of those reserves 1.1 billion barrels were discovered in post-salt layers of the basin and another 1.1 billion barrels in pre-salt layers. The private oil company OGX is also betting heavily on the Campos basin with its drilling in the Waimea Field. Statoil also intends to increase its exploratory drilling activity in the Campos Basin. The company is preparing to drill three new wells in the Peregrino Field.

Below is a list of domestic and international oil companies that have exploration blocks in Brazil. As a result of the frequent buying and selling of concessions in this industry, commonly referred to as “farm-in and farm-out” operations, this list of concession holders may have changed after its publication in 2012.


Ramp Up

Besides bringing new wells on-line in 2012, production will also grow because of the connection of additional wells to existing distribution systems. Petrobras alone will have no less than five new distribution projects linking fields of Lula (FPSO Cidade de Angra dos Reis), Mexilhão (Jaqueta), Uruguá-Tambaú (FPSO Ciade de Santos), Marlim Sul (P- 56) and Jubarte (P-57). These wells are located in the Campos and Santos Basins and began production between 2010 and 2011. Together they will insure the linking of 15 new wells, six of which will be focused exclusively on gas production and distribution

Read the full market research report

Posted: 29 November 2012

See more from Energy in Brazil

Expert Views    
Power Opportunities in Brazil   By UK Trade & Investment
Biofuels Annual 2011   By Foreign Agricultural Service
Oil and Gas E&P Outlook -2012   By U.S. Commercial Service Poland
Hot Tips    
Biodiesels in Brazil   By Foreign Agricultural Service
Latest News    
Solar Energy Update-   By U.S. Commercial Service