Increasing Recovery Factor in Brazil Mature Offshore FieldsCurrent RF Final RF . Mature Oilfields...
Transcript of Increasing Recovery Factor in Brazil Mature Offshore FieldsCurrent RF Final RF . Mature Oilfields...
Increasing Recovery Factor in
Brazil – Mature Offshore Fields
Marcelo Castilho Superintendent of Development and Production
Rio de Janeiro
September 25th, 2018
Rio Oil and Gas 2018
Onshore Conventional
Offshore
Brazil is continent-sized with three different E&P environments
Onshore
Mature Basins and New Frontier
Basins (mostly gas prone). Potential
for unconventional to be unleashed.
One of the World´s hottest oil play,
home to the largest offshore oil discoveries in the
last decade.
Pre-Salt Conventional
Offshore All the East Margin besides the pre-salt
region and Equatorial Margin, including new
frontier areas and a significant number of large mature fields.
Pre-Salt Polygon
Production
3.3 Million
Pre-Salt
54% Conventional
Offshore 39%
Onshor
e 7%
Oil
2.57 Million bpd
Gas
116 Million m³/d
boe/d
July, 2018
April, 2018
0
500
1000
1500
2000
2500
3000
3500
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
THO
USA
ND
BA
RR
ELS
OF
OIL
EQ
UIV
ALE
NT
PER
DA
Y
Average Production
Brazil Onshore Conventional Offshore Pre-Salt
3.296
1.777
1.274
244
Production Scenario: need to attract investments
30%
(2012/2017)
100 120 140 160 180 200 220 240
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
Tho
usa
nd
bp
d
Onshore Oil Production
160%
(2014/2017)
Pre-Salt Oil Production
(2012/2017)
31%
1.000
1.200
1.400
1.600
1.800
Tho
usa
nd
bp
d
Campos Basin Oil Post-salt Production
SEAL (2014/2017)
0
5
10
15
20
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
Tho
usa
nd
bp
d
SEAL RNCE
61%
Northeast Basins Offshore Production
Production is declining in all regions, except for the pre-salt play
0
500
1.000
1.500
01
/20
08
12
/20
08
11
/20
09
10
/20
10
09
/20
11
08
/20
12
07
/20
13
06
/20
14
05
/20
15
04
/20
16
03
/20
17
Tho
usa
nd
bp
d
0% 10% 20% 30% 40%
SEAL
Espírito Santo
Camamu
Campos
Santos
Potiguar/Ceará
Offshore Recovery Factor per basin
970 Million boe
New Reserves
1% addition in
Conventional
Offshore recovery
factor:
Current RF Final RF
Mature Oilfields
Goal:
promote
revitalization
projects and
increase life extension
Petrobras Divestment
Plan
Partnerships and
Technology Support
CNPE Resolution
2/2016
CNPE Resolution 17/2017
Bidding Rounds /
Open Acreage
Production Phase
Extension
New Resolutions
including Royalties
Industry
+
Government
+
ANP
Main adopted measures New E&P Policies
CNPE Resolution 17/2017
Royalties reduction, up to 5% (five
percent), on incremental production
resulted by new investment plan to
be implemented, in order to
promote life extension and
maximize field’s recovery factor.
Incremental Production
Main adopted measures New E&P Policies
New Resolution: Royalties Reduction on
Incremental Production in Mature Fields.
Promote Field Life
Extension
Maximize Recovery
Factor
Increase project Profitability
More Jobs and Income
Increase Mature Fields attractiveness
10% Royalties
7,5 or 5% Royalties
Historical Complementary
Project
Main adopted measures New E&P Policies
New Resolution: Royalties Reduction on
Incremental Production in Mature Fields.
0 20 40 60 80
Recôncavo Potiguar
Espírito Santo Campos Sergipe Alagoas
Solimões Ceará
Santos Tucano Sul
Camamu
Number of Eligible Fields per Basin
241 Number of Eligible
Fields:
53% of Brazilian Fields
54% of Campos Basin Fields
Mature Fields: 25 years of Production OR Production Cumulative ≥ 70% of
estimated recovery considering 1P reserves
CNPE Resolution 2/2016
Established the guidelines for the
concession contracts extensions
The Concessionaire may apply for
extension upon submission of a
request to ANP, together with a
reviewed Development Plan
Contract Extension
Main adopted measures New E&P Policies
9 extensions approved 4 in 2018
13 currently in analysis
and
GOVERNMENT PROGRAM
REATE Revitalization Program
for Oil and Gas
Exploration and
Production in
Onshore Areas
Main measures in progress
TCP for fields originally with reserves
of marginal economics
(public consultation)
Reserve
Based
Lending
National Agency of Petroleum, Natural Gas and Biofuels ANP
Av. Rio Branco, 65, 21st floor Rio de Janeiro – Brazil
Phone: +55 (21) 2112-8100
www.anp.gov.br
Thank You