Investments in drilling activity and decommissioning will increase in next two years – ANP

AUG 23, 2019

The expected jump by the National Petroleum Agency (ANP) in drilling activity next year will bring a large increase in investment volume. According to estimates, the amount will reach R$ 23.5 billion. This is a significant increase of 144% when compared to the R $ 9.6 billion forecast for 2019. As we reported, the agency forecasts the drilling of 260 wells in 2020, an increase of 27.3% compared to 205 this year. But the big highlight, according to the ANP, will be the field decommissioning activity, which will be at its peak in the year 2021 – when investments will be around R $ 58.7 billion.

Just as a basis for comparison, decommissioning resources should reach R $ 3.3 billion in 2019 and R $ 3.7 billion in 2020, before the big jump expected for 2021. There are other segments that may also experience an increase. in the volume of investments applied. One is the completion of wells.

For 2019, the ANP forecasts that the activity will receive up to R $ 10.9 billion. Then, the resources should rise to R$ 16.4 billion the following year. This growth path must also be followed by production collection systems, which will concentrate investments of R $ 14.7 billion in 2019 and R $ 17.6 billion in 2020.

As the Brazilian oil and gas sector gets a fresh boost in capital, national oil and gas production will also rise at a considerable pace. According to estimates prepared by the ANP, Brazil is expected to end 2019 with approximately 2.9 million barrels of oil per day (462,900 m³ daily). Then, the following year, the number should rise to 3.2 million barrels of oil per day (523 thousand m³ daily). By the end of 2023, national oil production could reach, according to the agency’s forecasts, up to 3.7 million barrels per day.

In the case of natural gas production, the agency expects the country to produce 131 million m³ per day by 2019. Then, the volume will rise to 143.8 million m³ daily the following year. Finally, by 2023, fuel extraction is expected to reach 168.4 m³ per day.

Source: Petronotícia

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