Brazil should extract 5.5 million barrels of oil per day by 2027

Oil production will reach 5.5 million barrels per day by 2027, according to estimates by the director general of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), Décio Oddone, presented at the 49th Brazilian Congress of Geology.

During the speech, he revealed that studies carried out by Shell indicate, that at the same time, Brazil will have the condition to export from 6 million to 7 million barrels per day of oil, “I say that production will be at 5.5 million, and they say that I am optimistic, and these companies do studies and know the Brazilian potential. We need to have the ability to have enough management to make it happen. ”

By June this year, oil production in Brazil reached 2.6 million barrels per day (bpd), while gas reached 115 million m³ / d in the same month.

According to ANP’s director, one of the sector’s challenges for the coming years is to accelerate investments, maximize reservoir production and recovery, and attract the right investors for each environment. Oddone recalled that the sector has as characteristics long-term projects, which require larger volumes of resources. The historical average between the signature of exploration contract and the beginning of production is 8 years at sea and 6 years on land. “That’s why the recovery will not be so fast,” he said, estimating the recovery by the end of 2019 or early 2020.

According to Oddone, for the pre-salt area the right players are the big companies. In the conventional offshore area large companies, exploration specialists and mature field operators should be included, while in the onshore area investors should be  small and medium-sized enterprises.


The ANP director general recalled that on September 28 the regulatory agency will hold the 5th Production Sharing Bid Round in the pre-salt polygon, when the Saturn, Titã and Pau-Brasil blocks will be offered in the Santos Basin, and Sudoeste de Tartaruga Verde, in the Campos Basin. Petrobras has shown interest only in acting as operator in Tartaruga Verde, which will leave to other interested parties the dispute of participation in 70% of the area.

The companies have until next Monday (27) to deliver the documents of expressions of interest and qualification and pay the participation fee. The deadline for delivery of the offer guarantees will be September 13. Winners’ contracts will be signed by November 26 of this year. In the sharing modality, proposals that offer the highest percentage of oil for the Union are considered winners.

Of the four areas, two will be offered under a concession system, which, based on a TCU decision, were included in this additional round. The other two had already been offered last year and returning now. “We are going to have a very positive auction, as it has been in the pre-salt, since we started to auction the assets of the pre-salt. This round on September 28 will be yet another demonstration that the industry looks at the long term and that Brazil, for this kind of investment, remains attractive in the long run, “he said.

Oddone said that the ANP is conducting studies, which are expected to be completed by September, to accelerate production in mature fields. “It is an internal work that the ANP is doing and aims to identify measures that we can take within the regulatory field, with actions we can recommend to Cade or the National Energy Policy Council to accelerate production in the mature fields of Brazil. We should have it ready by September to present the results in October. ”

Research Center

Oddone announced that the agency, the Mineral Resources Research Company (CPRM) and Petrobras are developing a project for the creation of a Sediments and Fluids Research Center, which will store the material obtained in the pre-salt area, possibly , at the Technological Park of the Federal University of Rio de Janeiro (UFRJ), and join other research centers at the site.

“Transforming that region, effectively, into a research center of the oil and gas area, which is already relevant and also with storage of samples at the CPRM Centers in Bahia and Manaus. With this we will give the Brazilian geological service a degree of sophistication and be one of the largest in the world, next to Canada, the United States and Australia. There is nothing in the country on this level. It’s absolutely revolutionary, “he said.

For the president of the Brazilian Society of Geology and the Organizing Committee of the Congress, professor Hernani Aquini Fernandes Chaves, the creation of the research center will be important to avoid the loss of information about the rocks. “We study the basement through seismic and other methods, but only the rocks that are collected in the wells tell us the geological truth. That’s why we do all the extrapolation to interpret the situation of deposition, if the rock is generating oil, where the oil has migrated. These rocks are critical to knowledge, “said the geologist.

Source: Agência Brasil | Fernando Fraga

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.