exploration diversity in brazi

Exploration Diversityin Brazilin Brazil

Eliane PetersohnSuperintendent of Block Delimitation

In place of

Magda ChambriardDirector General

GAC Latin America Luncheon at SEG Denver Annual Meeting

Oct 28th, 2014

Introduction1

Historical Evolution of Data Acquisition3

Current Scenario2

Outline

Final Remarks7

Geological and Geophysical Multi Year Plan4

Brazil Exploration Perspective5

Challenges and Opportunities6


Implementation of ANP

Royalties

Discussion

ANP Bidding RoundsSummary

Pre-salt discoveries:

new paradigm

Creation of

Inter-ministerial GroupMP 592/12 & Law 12734/12

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Pre-salt – new regulatory framework:

Higher potential

Petrobras Capitalization

Blocks in the

Pre-salt cluster

ANP investments on G&G surveys to increase knowledge of the Brazilian sedimentary basins.

Establishing directives, ordinances, resolutions and

ANP is responsible for oil sector policy implementation, in accordance to the Petroleum Law (Law 9478/1997), Gas Law (Law 11909/2009), Ethanol Law

(Law 12.490/2011) and Pre-Salt Laws (Laws 12.276/2010, 12.304/2010, 12.351/2010, 12.734/2012)

ANP duties

Regulating

Contracting

Monitoring

Establishing directives, ordinances, resolutions and normative statements

Promoting bidding rounds and entering into contracts with petroleum companies on behalf of the Federal Government

Monitoring the activities of regulated industries, directly or through agreements with other public agencies

Introduction1


Current Scenario2

Outline

Final Remarks7





“One country, three systems…”

7.5 million km2

Transfer of Rights:7 blocks

Exploratory blocks area under concession ~ 315,000 km2

429 oil or natural gas fields

~ 2% of sedimentary areas:Production Sharing Regime1st Pre-salt Bidding Round

All other areas: Concession Regime

Proven Reserves (dec, 2013)

Oil – ~15.6 billion bblGas – ~458 billion m3

Near future: x2

Production (August, 2014)

Oil and NGL – 2.4 million bbl/day

Current Scenario and Perspectives

25

30

35

40

Proven Reserves (Bboe)

Imports/Exports Balance (*)Oil – 122 thousand bbl/dayGas – 48 million m3/day

(*) January to August, 2014

Oil and NGL – 2.4 million bbl/dayGas – 90.1 million m3/dayNear future: x2

39 national companies38 foreign companies

Petroleum Natural Gas

0

5

10

15

20

25

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Near future

Introduction1


Current Scenario2

Outline

Final Remarks7





Seismic Acquisition Fleet

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

ANP Ordinance No. 188 , DEC 18th,1998 Provides for data acquisition applied to oil prospection

Historical Evolution of Data Acquisition

Equatorial Margin

Eastern Margin

Equatorial Margin Seismic Surveys

1998 2006 2014

Quantity and Quality improvement

UP TO 1998

2D Seismic Surveys 121 240,130 km

3D Seismic Surveys 9 3,771 km2

UP TO 2006



UP TO AUGUST, 2014



Eastern Margin Seismic Surveys

1998 2006 2014


UP TO 1998



UP TO 2006

2D Seismic Surveys 420 1,029,349 km


UP TO AUGUST,2014

2D Seismic Surveys 429 1,113,837 km


Pre-Salt Seismic Surveys

1998 2006 2014


UP TO 1998



UP TO 2006



UP TO AUGUST, 2014



Introduction1


Current Scenario2

Outline

Final Remarks7

Geological and Geophysical Multi-Year Plan4




1

2

3

4

5

6

7

8

9

14

1518

G&G Multi-Year PlanEmphasis on New Frontiers

(2007)

Total Investments~US$ 600 million

SEDIMENTARY BASIN INVESTMENTS (million US$)

Acre/Madre de Deus 38,56Solimões 3,23

Amazonas 44,17Tacutu 1,25Marajó 0,04

10

11

12

13

16

17

19

Marajó 0,04

Foz do Amazonas 8,00Ceará 6,35

Pernambuco-Paraíba 0,17Jacuípe 9,50

Cumuruxatiba 0,94Pelotas 0,62

São Francisco 66,30São Luis-Bragança-Vizeu 0,81

Parnaíba 62,27Jatobá/Tucano Norte 0,25

Paraná 124,88Parecis 165,27Araripe 1,30

Pre-Salt (Santos Basin) 84,65

TOTAL 618,52

Concluded Projects

Investments ~ US$ 400 million

Ongoing projects

Investments ~ US$ 180 million

ANP Investments

Paraná BasinANP Investments

Concluded projectsAero grav/mag survey1st 2D seismic survey

Seismic processing

Investments~US$ 120 million

Ongoing Projects1st Vibroseis seismic survey

Magnetoteluric survey

Projects under contracting2nd Vibroseis seismic survey

Magnetotelluric survey - ongoing

1th Seismic Survey - concluded

2nd vibroseis seismic survey – under contracting

1st vibroseis seismic survey - ongoing

Seismic processing - concluded

Grav/Mag aerosurvey - concluded

Vibroseis Seismic SurveyParana Basin

1992

better imaging sub-basalt

Parana BasinBarra Bonita Field

2014

Parecis BasinANP Investments

Concluded ProjectsGeochemical survey

1st 2D seismic survey

Investments US$ ~130 million

Well 2-ANP-0004-MT – drilling

Ongoing Projects2nd 2D seismic survey

Stratigraphic well 2-ANP-0004-MT

Projects Under Contracting1st Vibroseis seismic survey

Magnetotelluric survey - ongoing

1st vibroseis seismic survey – under contracting

1st seismic survey - concluded

2nd seismic survey - ongoing

Geochemical survey - concluded

2-ANP-4-MT

Parecis Basin 2D Seismic Survey & Stratigraphic Well 2-ANP-4-MT

0 20 km

Parecis Fm BasePimenta Bueno Fm Base

Serra Azul Fm. Araras Gr

Sepotuba FmRaizama Fm.

Puga Fm. S.C.I. Base

Rift Basal Seq BaseBasement

Parnaiba BasinANP Investments

Concluded Projects

Total Investments:~US$ 100 million

Geochemical survey1st 2D seismic survey2nd 2D seismic surveyAero grav/mag survey

Seismic processing

Seismic Survey

Seismic processing

Geochemical survey

Grav/Mag aerosurvey

ANP Seismic SurveyParnaiba Basin

660659 626 627 596 597628 598

01

,00

0m

s Line LR-115 0317_2D_ANP_BACIA_DO_PARNAIBA

0 15 km

2,0

00

3,0

00

Legend:Cabecas Fm. Top

Cambrian Unconformity Basement

Sills

Anhydrite

FaultsPre-rift (?)

EDA Investments

~ 10.000 km speculative seismic

data(Global & Georadar)

Legend

Bidded area R12

Legend

Exploration Block - Bidding Rounds2

3

4

5

6

7

9

10

11

12

Fields in production

Global Geophysical Multi Client Project

Georadar Multi Client

Projects under contract

About 12,000 line km of 2D seismic data will be acquired in Paraná and Parecis basins.

Investments about US$ 80 million

3D Seismic SurveyCampos and Santos Basin

– Seismic survey aims to investigate Cabo Frio High

– Location defined by ANP to G&G Multi Year Plan

– Acquired by CGG

Arbitrary line – CGG Courtesy

Introduction1


Current Scenario2

Outline

Final Remarks7





Equatorial Margin

� Sedimentary area: ~ 1 million km2

� Five New Frontier basins;

� Similar geological evolution of the West African margin;

� Characterized by transform tectonism;

� Expectations of light oil in neocretacic turbidite reservoirs.

Blocos Ex

2

3

4

5

6

7

9

10

11

Blocks per Bid

Brazil-Africa Analogy

Ivory Cost

Ghana BRASILBacia

do

Parnaíba

ÁFRICA

Ojeda, 1982

Bacia

do

Paraná

Arenitos,

Conglomerados

Folhelho

Rochas magmáticas

South America Analogues: Guiana, Suriname and French Guiana

Source: http://www.ogfj.com/articles/print/volume-10/issue-4/features/testing-the-atlantic-mirror-theory.html

Equatorial MarginHidrocarbon shows

Only 17 exploratory wells drilled in

deepwater (> 400 m)

Source: http://www.investidorpetrobras.com.br

Pitu Prospect Potiguar Basin

The Eastern Margin

Sergipe-Alagoas

Pernambuco-Paraíba

Camamu-Almada

Jequitinhonha

Jacuípe

Pelotas

Santos

Campos

Espírito Santo

Jequitinhonha

Cumuruxatiba

Mucuri

� Area: ~ 1.5 million km2

� High Potential and New Frontier basins;

� Prolific Pre-Salt Province

� Margin basins formed during the breakup of Western Gondwana and opening of the South Atlantic;

� Extensional stresses dominated

Source: http://www.phoenix.org.br

Sergipe-Alagoas

http://homepage.ufp.pt/biblioteca/SaltTectoni

The Eastern Margin

Pelotas

Espírito SantoSource: http://www.investidorpetrobras.com.br

http://homepage.ufp.pt/biblioteca/SaltTectoni

csNovo/Pages/Page7.htm

Source: http://www.rondauruguay.gub.uy/LinkClick.aspx?fileticket=ZtWER74xaqw%3d&tabid=411&mid=899

Petrobras Business Plan counts on one new platform for Sergipe-

Alagoas deepwater in 2018

The Pre-Salt Province

Transfer of Rights Surplus

contract in process

Exploration Blocks – Bidding Rounds

2

3

4

5

6

7

9

10

11

Rights Transfer

1st Pre-Salt Round

Fields in production

Pre-Salt area

PampoOil: 567 bbl/d

Gás: 19 M m3/d

LinguadoOil: 427 bbl/d

Gás: 27 M m3/d

JubarteOil: 73,798 M bbl/dGás: 2,434 K m3/d

Baleia FrancaOil: 24,655 bbl/dGás: 873 K m3/d

TrilhaOil: 384 bbl/d

Oil~533 thousand barrels/day and Gas~ 18 million m3/day

Pre-Salt ProvinceCurrent production

Baleia Azul

Marlim LesteOil: 40,188 bbl/dGás: 775 K m3/d

BarracudaOil: 1,673 bbl/dGás: 24 K m3/d

CaratingaOil: 26,215 bbl/dGás: 387K m3/d

Ent. IaraOil: 278 bbl/d

Gás: 16 K m3/d

Lula (8 poços)Oil: 172,129 bbl/dGás: 7,490 K m3/d

Sapinhoá (2 poços)Oil: 97,804 bbl/d

Gás: 3,351 K m3/d

Oil: 384 bbl/dGás: 9 M m3/d

August /2014

IaraOil: 22,888 bbl/dGás: 274 K m3/d

Baleia AzulOil: 71,728 bbl/d

Gás: 2,445 K m3/d

First Pre-Salt Bidding Round: Libra (Santos Basin)

� Bid round in 2013;

� In situ volumes estimatedbetween 25 e 40 billionbetween 25 e 40 billionpetroleum barrels;

� Petrobras, Shell, Total, CNPC e CNOOC are partners;

� Signature Bonus: R$ 15 bilhões (U$ 7 billions);

� Government take: 75%

Libra-1,000

-3,000

-2,000

-4,000

-5,000

-6,000

-7,000

-8.000

-9.000 10 km

Sea bottom

Salt Top Sag Base

Salt Base

Basement

Intra-riftGeological fault

Arbitrary line – CGG Courtesy

Petersohn & Abelha, 2013

Onshore New Frontier Basins

Parnaíba Basin Parque dos Gaviões

Parecis BasinTeles Pires River

Acre Basin

São Francisco BasinBuritizeiro

Parana BasinBarra Bonita Field

“Gaviões Park”Parnaíba Basin

Bacia do ParnaíbaBacia do ParnaíbaGavião Real Field Production

Petroleum: 144 bbl/dayNatural gas: 5.5 million m³/day

Introduction1


Current Scenario2

Outline

Final Remarks7





Challenges and Opportunitiesin onshore basins

Parnaiba

Basin

– New 2D seismic surveys

– Drilling Stratigraphic Wells

– Identify Exploration model

– Evaluate conventional and unconventional petroleum potential

Parecis Basin

Parana

Basin

Challenges and Opportunitiesin Pre-Salt of Campos and Santos basins

– New ANP and/or SPEC 3D seismic surveys

– Drilling Exploratory Wells

– Evaluate Pre-Salt petroleum Potential

Santos

Basin

Campos

Basin

The potential of Brazil goes far beyond the pre-salt.

ANP is consolidating

Opportunity:13th Bidding Round

ANP is consolidating results, reanalyzing areas and collecting information from various sources, in order to identify new opportunities.

13th Round : ANP suggested focus on Brazilian Eastern Margin.

Example of Pre-Salt Potential – Pau Brasil area

ANP is consolidating results, reanalyzing areas and collecting information from various sources, in order to

Opportunity:2th Pre-Salt Bidding Round (?)

various sources, in order to identify new opportunities.

Pau Brasil prospect• Area ~ 320 km2

• Thickness ~ up to 450 m (?)

Introduction1


Current Scenario2

Outline

Final Remarks7





Final Remarks

Brazilian plans to double production and reserves are underway;

Brazilian projects will represent huge investments for many years;

In 2014, ANP studies focus the eastern margin;

In Brazil, exploratory opportunities go far beyond pre-salt.

Brazil shall be an excellent market for oil companies and suppliersfor many years.

Agência Nacional do Petróleo, Gás Natural e Biocombustíveis – ANP

Av. Rio Branco, 65 – Centro – Rio de Janeiro – Brasil

12º ao 22º andar

Tel: +55 (21) 2112-8100 Tel: +55 (21) 2112-8100

www.anp.gov.br

exploration diversity in brazi

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