Brazil: Scenario and Opportunities

Dirceu Amorelli

Director

J u n e 1 0 t h , 2 0 1 9

Production

3.3 million

boe/day 9th

largest oil producer in 2018,

the largest of Latin America

208 million

Population

Penalties Criteria Brazil at a glance

9th

largest economy

7th

largest oil products consumer

<3%

7th

Largest foreign investments attractor

~50%Energy supply

And what the oil and gas industry represents

15 billion Proven Reserves

5th

largest country

(8.5 billion km²)

Open Acreage

600

(approved)

+1.139

Blocks +14Marginal

fields

20Sedimentary

basins

527 approved blocks in 8 onshore basins

73 approved blocks in 5 offshore basins

Blocks not awarded in the

15th Bidding Round are

included

Open Acreage

600

(approved)

+1.139

Blocks +14Marginal

fields

20Sedimentary

basins

527 approved blocks in 8 onshore basins

73 approved blocks in 5 offshore basins

Blocks not awarded in the

15th Bidding Round are

included

16th Bidding Round

New Frontier:12 blocks

High Potential Basin: 24 blocks

36Blocks

Camamu, Jacuípe, Pernambuco,

Campos and Santos.

5Basins

Estimated unrisked oil in

place volume (P50)

111 Bbbl

SANTOS

Minimum Bonuses vary from $ 375 M up to 325 MM

Open Acreage

600

(approved)

+1.139

Blocks +14Marginal

fields

20Sedimentary

basins

527 approved blocks in 8 onshore basins

73 approved blocks in 5 offshore basins

Blocks not awarded in the

15th Bidding Round are

included

16th Bidding Round

New Frontier:12 blocks

High Potential Basin: 24 blocks

36Blocks

Camamu, Jacuípe, Pernambuco,

Campos and Santos.

5Basins

Estimated unrisked oil in

place volume (P50)

111 Bbbl

SANTOSCAMPOS

Minimum Bonuses vary from $ 375 M up to 325 MM

Open Acreage

600

(approved)

+1.139

Blocks +14Marginal

fields

20Sedimentary

basins

527 approved blocks in 8 onshore basins

73 approved blocks in 5 offshore basins

Blocks not awarded in the

15th Bidding Round are

included

16th Bidding Round

New Frontier:12 blocks

High Potential Basin: 24 blocks

36Blocks

Camamu, Jacuípe, Pernambuco,

Campos and Santos.

5Basins

Estimated unrisked oil in

place volume (P50)

111 Bbbl

SANTOSCAMPOS

Camamu-Almada

Minimum Bonuses vary from $ 375 M up to 325 MM

Open Acreage

600

(approved)

+1.139

Blocks +14Marginal

fields

20Sedimentary

basins

527 approved blocks in 8 onshore basins

73 approved blocks in 5 offshore basins

Blocks not awarded in the

15th Bidding Round are

included

16th Bidding Round

New Frontier:12 blocks

High Potential Basin: 24 blocks

36Blocks

Camamu, Jacuípe, Pernambuco,

Campos and Santos.

5Basins

Estimated unrisked oil in

place volume (P50)

111 Bbbl

SANTOSCAMPOS

Camamu-Almada

Minimum Bonuses vary from $ 375 M up to 325 MM

Open Acreage

600

(approved)

+1.139

Blocks +14Marginal

fields

20Sedimentary

basins

527 approved blocks in 8 onshore basins

73 approved blocks in 5 offshore basins

Blocks not awarded in the

15th Bidding Round are

included

16th Bidding Round

New Frontier:12 blocks

High Potential Basin: 24 blocks

36Blocks

Camamu, Jacuípe, Pernambuco,

Campos and Santos.

5Basins

Estimated unrisked oil in

place volume (P50)

111 Bbbl

SANTOSCAMPOS

Camamu-Almada

6th Pre-salt Bidding Round

Minimum Bonuses vary from $ 375 M up to 325 MM

Estimated unrisked oil in place

volume

42 Bbbl

Pre-Salt Play

5Blocks

Potential for a large oil discovery

Bonuses vary from:

$ 125 MM up to 1,2 B

Minimum Profit Oil vary from:

22,87% up to 36,98%

Open Acreage

600

(approved)

+1.139

Blocks +14Marginal

fields

20Sedimentary

basins

527 approved blocks in 8 onshore basins

73 approved blocks in 5 offshore basins

Blocks not awarded in the

15th Bidding Round are

included

16th Bidding Round

New Frontier:12 blocks

High Potential Basin: 24 blocks

36Blocks

Camamu, Jacuípe, Pernambuco,

Campos and Santos.

5Basins

Estimated unrisked oil in

place volume (P50)

111 Bbbl

SANTOSCAMPOS

Camamu-Almada

6th Pre-salt Bidding Round

Minimum Bonuses vary from $ 375 M up to 325 MM

Estimated unrisked oil in place

volume

42 Bbbl

Pre-Salt Play

5Blocks

Potential for a large oil discovery

Bonuses vary from:

$ 125 MM up to 1,2 B

Minimum Profit Oil vary from:

22,87% up to 36,98%

To be confirmed:

Bidding Rounds Calendar

Open AcreagePetrobras

Divestment Plan

Unique E&P Opportunity

Improvements in the energy policy, resolutions and contracts

Variety of opportunities to attract the right players

Brazil World

Final O&G Recovery Factor

21%

Average Final O&G

Recovery Factor 35%

1% addiction in Campos Basin:

970Mboe (New Reserves)

1% addiction in onshore:200Mboe

(New Reserves)

First delivery of highly complex

technologies produced in Brazil, to be used

in Norwegian fields.

~30%

(2012/2018)

Development drilling has declined 75%

in the last 5 years~75%(2015/2017)

The production has declined 30% in the

last 5 years183 Fields92% Mature Fields

4625%

13775%

Offshore Fields

Onshore Fields

Need of additional

service companiesFuture

A diverse oil industry with

multiple players

and operators

Bra

zilia

n O

il P

rod

uct

ion F

ore

cast

(MM

bo

e/d

)

National Agency for Petroleum, Natural Gas andBiofuels – ANP

Av. Rio Branco, 65, 21st floorRio de Janeiro – Brazil

Phone: +55 (21) 2112-8100

Additional Information:

www.anp.gov.br