Brazil’s Proven Oil Reserves Grew 3.84% in 2025

April 10 (ANP) The ANP (National Agency of Petroleum, Natural Gas and Biofuels) released today (April 10th) the Annual Resources and Reserves Bulletin (BAR) 2025. The publication provides consolidated information on Brazilian oil and natural gas reserves declared by companies operating exploration and production areas last year.

In 2025, there was a 3.84% increase in proven oil reserves (1P) compared to 2024. There was also a 3.19% increase in the volume relative to the sum of proven and probable reserves (2P) and a 1.48% increase in the sum of proven, probable and possible reserves (3P).

Companies contracted for exploration and production in Brazil declared 17.488 billion barrels of oil in proven reserves; 24.265 billion barrels in proven + probable reserves; and 28.877 billion barrels of proven + probable + possible reserves.

The proven reserve replacement ratio (IRR 2025/2024) for oil was 147.03%, representing approximately 2.023 billion barrels in new reserves. The reserve replacement ratio indicates the relationship between the volume appropriated and the volume produced in the period considered.

In the case of natural gas, 572.752 billion cubic meters (m³) of 1P reserves, 694.383 billion m³ of 2P reserves, and 751.624 billion m³ of 3P reserves were declared, corresponding to an increase in absolute numbers of 4.89%, 3.20%, and 1.50%, respectively, compared to the year 2024.

The changes in the volume of Brazilian oil and natural gas reserves are due to production during the year, additional reserves from new development projects, declarations of commerciality, and revisions of field reserves due to various technical and economic factors.

The BAR presents reserve data by Federative Unit; the proportion of proven, possible, and probable reserves by basin; accumulated production by basin and state; and the recovered fraction (total accumulated production divided by the volume of resources in place, i.e., the total volume of oil in the reservoirs) by basin. The data can also be consulted interactively, with the possibility of applying filters, in the Dynamic Panel of Hydrocarbon Resources and Reserves.

Operating companies of producing fields must annually inform the ANP (National Agency of Petroleum, Natural Gas and Biofuels), by January 31st, of the volumes of reserves, resources, accumulated production, and in-situ volumes of oil and natural gas relative to the previous year. The information contained in the Annual Resources and Reserves Bulletin (BAR) must be in accordance with the Development Plan and other plans and programs submitted to the Agency, and must be prepared in accordance with ANP Resolution No. 47/2014.

What are proven, probable, and possible reserves?

Proven reserves correspond to the amount of oil or natural gas that the analysis of geosciences and engineering data indicates with reasonable certainty as commercially recoverable on the reference date of the Annual Resources and Reserves Bulletin. When probabilistic methods are used, the probability that the amount recovered will be equal to or greater than the estimate must be at least 90%.

For probable reserves, the probability that the recovered quantity is equal to or greater than the sum of the estimates of proven and probable reserves should be at least 50%. For possible reserves, the probability that the recovered quantity is greater than or equal to the sum of the estimates of proven, probable, and possible reserves should be at least 10%.