Brazil’s Petroleum Unleashed: RecentArea under concession ~ 295,000 km2 350 Blocks 392 fields 97...
Transcript of Brazil’s Petroleum Unleashed: RecentArea under concession ~ 295,000 km2 350 Blocks 392 fields 97...
Brazil’s Petroleum Unleashed: Recent
Changes and Future PotentialEliane Petersohn
Chief Geologist Rio de Janeiro,
Nov, 14st 2018
Outline
Brazil’s Current State
Open Acreage Process
Upcoming Licensing Rounds
Conclusion
Photo by Zbynek Burival on Unsplash
Area under concession
~ 295,000 km2
350 Blocks
392 fields
97 companies
Production
(May, 2018)
Oil 2.6 million bbl/d
Natural Gas 112 million m3/d
Proven Reserves
(Dec, 2017)
Oil 12.8 billion barrels
Natural Gas 370 billion m3
10th largest oil producer in the world and
the largest in Latin America
Sedimentary Area: 7.5 million km2
Brazil’s Current State
0.0
0.5
1.0
1.5
2.0
2.5
3.0
Total Oil Pre-Salt Post-Salt Onshore
Millio
nb
arr
els
of
oil
/da
yBrazil’s Current State
20171998
Crude Oil Export
1 million bbl/d
Oil Export
(2000)
18.68 bbl/d
Production (Dec, 2017)
2.6 million bbl/d
110 million m3/d
Production (Dez, 1998)
970 thousand bbl/d
30 million m3/d
Brazil’s Current State
Wide variety of plays under
exploration and production
Two main plays producing in Brazil:
Turbidite Sandstones
Pre-salt Carbonates
Potential for much more to be explored in
conventional and unconventional plays
Pre-SaltConventional
OffshoreOnshore
16,547bpd
86 wells 641 wells 6.792 wells
1,654 bpd 17bpd
E&P Environments
High quality Carbonate
Reservoirs underneath the
salt layer
High well productivitymore than 30,000 bpd in the
beginning of production
Potential for giant or supergiant
field discoveries
Eastern and Equatorial Margin
Potential for oil discoveries from the Upper Cretaceous to
Paleogene turbidite reservoirs
Mature Basins(Remaining Potential)
New Frontier BasinsSolimoes Basin: Potential for
light oil accumulations
Paleozoic and Proterozoic
basins: gas prone
Onshore’s Current State
Onshore New Frontier Basins
Area under concession: ~ 170,000 km2
81 Blocks and 23 fields
Oil production: ~16 thousand bbl/d
Natural gas: ~ 17.6 million m3/d
Onshore Mature Basins
Area under concession: ~ 8,500 km2
122 Blocks and 279 fields
Oil Production: ~92 thousand bbl/d
Natural gas: ~ 3.7 million m3/d
Open Acreage Process
Open Acreage Open Acreage
Continuous offer of blocks and mature fields.
Companies can bid on blocks not sold in previous auctions.
Applications can be submitted anytime and not just at designated points.
It it will promote exploration activity in onshore areas where there are more small and medium size companies.
1st Wave
Area346,035 km²
14Mature
Fields
15Sedimentary
Basins
884Blocks
722 blocks in 9 onshore basins
162 blocks in 6 offshore basins
1st Stage
1st Wave
158 blocks are already available for nomination process
1st Stage - 1st Wave Marginal fields
Reconcavo Basin Potiguar Basin Espirito Santo Basin Sergipe-Alagoas Basin
http://rodadas.anp.gov.br/en/open-acreage/marginal-oil-fields
2nd Wave
1,054Blocks
85 blocks in 7 onshore basins
969 blocks in 3 offshore basins
Technical and economic
parameters are under
evaluation
Area 441,400 km²
20Sedimentary
Basins
Open
Acreage
All the blocks in all
the onshore basins
will be included in the
Open Acreage
Geological and Geophysical ANP’s Program
Geological and Geophysical ANP’s Plan
It is a program of systematic data acquisition to
increase the geological knowledge of the Brazilian
sedimentary basins, specifically in onshore New
Frontier basins
The main goal is to gain knowledge about the
petroleum potential, reduce exploratory risk and
attract investors to enhance exploratory activities.
Between 2007 and 2018 ANP has invested around R$ 1.5 billion
➢ 833,000 km of aero surveys
(gravimetric and magnetometric data);
➢ 17,200 samples of soil (onshore
geochemical surveys);
➢ 4,000 piston core samples;
➢ 23,500 km of 2D seismic data;
➢ Processing of 42,000 km of vintage
seismic data (pre-1998);
➢ 742 points of magnetotelluric data
➢ Petroleum systems studies;
➢ 4 stratigraphic wells
ANP has invested R$ 1.5 Billion
2007-2018
http://www.anp.gov.br/exploracao-e-producao-de-oleo-e-gas/estudos-geologicos-e-geofisicos
Potential of the Areas in Open Acreage
Parnaiba
Parana
Sao
Francisco
Parecis
Amazonas
Solimoes
Solimoes
Basin
Producing basin
and potential for
light oil and natural
gas discoveries
Parnaiba
BasinProduction
6.1 million m3/d
Solimoes Basin production (April/18)
Light Oil ~21 thousand bbl/d
Natural Gas ~14.2 million m3/d
Boe: ~110 thousand bbl/d
Other basins
potential for natural
gas discoveries
Solimoes and Parnaiba are the only new frontier producing basins in Brazil
Acre, Amazonas, Tucano Sul, Sao Francisco,
Parana and Parecis are gas prone basins
Onshore New Frontier Basins
Areas under concession in the Parnaiba Basin
Gaviao
Preto
Gaviao Caboclo Gaviao Branco Norte
Gaviao
Branco
Gaviao Vermelho
Gaviao Azul
Gaviao Real
Natural Gas Production:
~7.91 million m3/d (sep/2018)
Area under concession
~76,200 km2
0
1
2
3
4
5
6
7
8
* Updated in September 2018
20 Largest Natural Gas Producer Fields*
Gavioes ClusterN
atu
ral G
as
Pro
du
ctio
n(M
Mm
³/d
)
7.91 million m³/d **
** 7 % of Brazilian Total Natural Gas Producer
Source: Cunha et al., 2012
SW NE SW NE SE NW NE SW
GVR GVA GVB
0 5 10 km
Silurian Supersequency
Basement
Itaim Fm
Pimenteiras Fm
Cabeças Fm
Poti Fm
Piauí Fm
Longá Fm
Pedra de Fogo Fm
Motuca Fm
0
500
1.000
1.500
2.000
2.500
3.000
3.500
Depth (m)
SILLS
Sills
G a v i o e s C l u s t e r – P a r n a i b a B a s i n
Accumulation Model
Tim
e (
ms
)Leads – Parana Basin
Length (km)
Tim
e (
ms
)
Length (km)
Basement
Leads – Parana Basin
Tim
e (
ms
)
Length (km)
Leads – Parana Basin
LeadsBasement
Open Acreage 2nd Wave
Areas on Open Acreage in ParecisBasin
N S
t (m
s)
0319-0037 0319-0030 0319-0031
2-ANP-6-MT
Depth 4,485 m
40 km
Parecis Basin
N S
t (m
s)
0319-0037 0319-0030 0319-0031
Parecis Basin
40 km
Tucano Sul Basin
Promising potential for natural gas
discoveries
Area under concession
~2,750 km2
15 blocks
7 fields
4 natural gas fields currently under
production:
Conceição
Fazenda Matinha
Fazenda Santa Rosa
Querera
~23 mil m3/d
Onshore Mature Basins
Advanced exploration stage
Oil & Gas Infrastructure available
Excellent opportunity for small and
medium-sized companies
Recent discoveries
Remaining Potential
Potiguar
Sergipe-Alagoas
Espirito Santo
Reconcavo
-
50,000
100,000
150,000
200,000
250,000
Onshore Oil Production bbl/d
Need to revitalize activities in
onshore fields, by attracting small
and medium companies expert in
mature fields
OilGas
127Mil bbl/d
21Million m³/d
30%
0
20
40
60
80
100
120
140
2012 2013 2014 2015 2016 2017
Concluded Wells 84%
Onshore Mature Basins
Licensing Rounds
U p c o m i n g
2019-2021
Bidding Round Blocks Awarded Signature Bonuses
(billion R$)
14th Bidding Round 37 3.84
15th Bidding Round 22 8.01
2nd Pre-Salt Auction 3 3.30
3rd Pre-Salt Auction 3 2.85
4th Pre-Salt Auction 3 3.15
5th Pre-Salt Auction 4 6.82
Total 72 27.97
bidding rounds results 2017-2018
Campos and Santos basins exploration scenario evolution
2015 2018
Blocks R14
~13 bilhões bbl
Blocks LP2
~2,5 bilhões bbl
Uirapuru ~7,8 B bbl
Norte de Carcará ~2,2 B bbl
Peroba Block LP3
~5,3 bilhões bbl
Blocks LP4
~12,1 bilhões bbl
Peroba ~5,3 B bbl
Três Marias
~1,9 B bbl
Blocks R15
~9 bilhões bbl
Blocks LP5
~17 bilhões bbl
Pau-Brasil
~3,9 B bbl
Saturno e Titã
~12,2 B bbl
Unrisked in place oil volume estimated in Campos and
Santos Basins
~ 60 B bbl
Sapinhoá ~350 milhões bbl
Dois Irmãos ~2,4 B bbl
Sudoeste de
Tartaruga Verde
~1,3 B bbl
Blocos R15 Campos ~ 6,3 B bbl
Blocos R14 Campos e
~ 13 B bbl
Blocos R15 Santos ~ 2,65 B bbl
US$ 112 B
R$ 300 B
Investimentos
US$ 425 B
R$1,700 B
Tax Revenues
2.5Million bdp
(peak production)
~20New Plataforms
Hundred of wells
Potential Results
*Brent = US$ 70/bbl
Exchange Rate= R$ 4/US$
Potential results for the following bidding rounds:
2019-2021
Bidding Rounds Schedule
16th Bidding
Round
42 blocks
~30,000 km2
Pernambuco-Paraiba
Jacuipe
Camamu-Almada
Campos & Santos Basins
6th Pre-Salt
Licensing Round
5 blocks:
Aram
Bumerangue
Cruzeiro do Sul
Sudoeste de Sagitario
Norte de Brava
-3,0
00
-5,0
00
-7,0
00
-9,0
00
De
pth
(m
)
Survey: R0014_BS_1_SOUTH_PSDM – Courtesy of PGS
Crossline 4802
Prominent Basement High
Four-way Closure
Ampitude Anomalies
Aram Block
Area: 1,500 km2
25 km
6th Pre-salt Bidding Round
-3,0
00
-5,0
00
-7,0
00
-9,0
00
De
pth
(m
)
Survey: R0014_BS_1_SOUTH_PSDM – Courtesy of PGS
Crossline 4802
Top of Salt (Aptian/Albian)
Base of Salt (Aptian)
Basement
Fault
Aram Block Prominent Basement High
Four-way Closure
Ampitude Anomalies
Area: 1,500 km2
25 km
6th Pre-salt Bidding Round
Pre-Salt Bidding
Rounds Schedule
2020
Esmeralda
Agata
Agua Marinha
2021
Tupinamba
Jade
Ametista
TurmalinaTupinamba
Bidding Rounds scheduleconcession contracts
2020Para-Maranhao, Potiguar,
Campos, Santos & Pelotas basins
2021Ceara, Espirito Santo & Pelotas
Basins
Conclusions
Brazil has highly promising oil prospectivity and wide diversity of plays. It has been increasing its
oil production and it has geological potential to be in the Top 5 oil producers and oil suppliers in
the world.
In order to promote exploration activities in onshore basins, ANP is starting the open acreage
process which will allow companies to have more flexibility to orchestrate deals with the Brazilian
government and to access almost 2,000 blocks (~800,000 km2).
Beyond these, there will be new bidding rounds under concession and production sharing
contracts in 2019-2021.