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Jorge Camargo Presentation

The document summarizes the challenges and opportunities in Brazil's oil and gas sector. It outlines Brazil's significant oil and gas reserves, especially from pre-salt deposits, and investments of over $450 billion by 2020 to develop these resources. However, it also notes challenges such as regulatory issues, developing human resources and supply chains to support the industry, and technological hurdles in developing pre-salt fields located in ultra-deep waters over 2,000 meters deep. State-run Petrobras has taken a leading role in technological development for pre-salt exploitation.

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101 views14 pages

Jorge Camargo Presentation

The document summarizes the challenges and opportunities in Brazil's oil and gas sector. It outlines Brazil's significant oil and gas reserves, especially from pre-salt deposits, and investments of over $450 billion by 2020 to develop these resources. However, it also notes challenges such as regulatory issues, developing human resources and supply chains to support the industry, and technological hurdles in developing pre-salt fields located in ultra-deep waters over 2,000 meters deep. State-run Petrobras has taken a leading role in technological development for pre-salt exploitation.

Uploaded by

cvrap99
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The Brazilian Oil and

Gas Sector:
Challenges and
Opportunities

Jorge Camargo
President
About IBP

Home of Our
Industry

244
Associated member
companies

1500
Volunteers
Geologist Walter Link
Carlos Walter Marinho Campos
OTC Award 1992
OTC Award 2015
Petrobras

OTC Distinguished Achievement Award for Companies

This award recognizes Petrobras pre-salt development for their


successful implementation of ultra-deepwater solutions and
setting new water depth records.

Petrobras increased their efforts in technology development to


exploit this hard-to-access resource, in waters up to 2,200 m
(7,200 ft). By the end of 2014, Petrobras was producing more
than 700,000 bpd of oil in the pre-salt layer of the Campos and
Santos basins.

The oil and gas production in this challenging environment demanded the development of
different riser systems, which were successfully applied and are now available for the
industry. Additionally, Petrobras achieved a significant reduction in the drilling and
completion time for wells.
POTENTIAL OF THE PETROLEUM INDUSTRY IN BRAZIL

•8,000 Km shoreline

• 29 Sedimentary Basins - 6.4 million km²

• 313 Concessions (82 offshore and 233


onshore)
• 25 operators
• 8,994 wells (765 offshore and 8,229 onshore)
IMPACTS OF THE PRE-SALT
• Proven reserves of oil & gas (2013)
17.97 bi BOE

Oil (production) = 2.1 Mboe/day


Gas (production) = 44.33 Mboe/day
Import = 45.31 MMm³/day
Consumption = 81.64 MMm³/day

• Pre-salt Production: + 500 kboe/day


IMPACTS OF THE PRE-SALT
Current
Future reserves
reserves
56.5 billion boe

+ = 18.0 proven
11.5 pre-salt discoveries
10.0 Libra
5.0 onerous assignment
18.0 12.0 onerous assignment surplus
billion boe 27.5 to 38.5
14th largest reserve 9th largest reserve

Estimated investments: USD 450 bi by 2020

Challenges
Regulatory Human resources
Financial Services
Technological Logistics
R&D Investments
R,D&I Investments Obligations per year (US$)
Petrobras Others Total
500.000.000

450.000.000

400.000.000

350.000.000

300.000.000

250.000.000

200.000.000

150.000.000

100.000.000

50.000.000

0
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Source: SGP/ANP – Boletim
Petrobras Others P&D
(2014 1stQ)
R&D Investments
Annual estimated P&D investments obligation until 2023

1,40

1,20

1,00
Billions US $

0,80

1,30 1,25
0,60 1,24
1,16
1,09 1,05
0,90
0,40 0,80
0,71

0,20
0,46

0,00
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Source: SPG e SPD - BoletimANP_janeiro 2014


Challenges

Brazil

Bidding Rounds Local Content Environmental


Continuation Regulation Licensing

Single Legal
Operator Stability
Some successful projects
Submarine Wather Oil Separation Permanent monitoring of 4D Seismic
Field: Campo de Marlim (P-37) Field Jubarte (P-57)
Depth: 1.000 m Depth : 1.300 m
Operation: pre-operation since Mar/2013 Operation : since Feb/2013

Raw Water Injection (RWI) Riser support float Submarine Multiphase Pump
Field Albacora (P-25) Field Sapinhoá (Pre-Sal) Field Barracuda (P-43)
Depth : 575 m Depth : 2.200 m Depth : 1.040m
Operation : pre-operation since Operation : 3T/2013 Operation : since Jul/2012
Oct/2012
“Brazil is not for beginners”
Tom Jobim

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