Oil and Gas Resources on the Brazilian
Continental Margin
Oil and Gas Resources on the Brazilian
Continental Margin
Jeferson Luiz DiasJeferson Luiz DiasPetrobras/E&PPetrobras/E&P
November, 2008 Rio de Janeiro, BrazilNovember, 2008 Rio de Janeiro, Brazil
Seminar on Marine Mineral Resources of the South and Equatorial Atlantic Ocean Seminar on Marine Mineral Resources of the South and Equatorial Atlantic Ocean
Brazil: General InformationBrazil: General Information
Area : 8,514,877 km2
Coastline: 7,370 km
Population: 187 million (2007)
Gross Domestic Product (2007): US$ 796 billion
GDP/capita (2007): US$ 4,420
Domestic Oil/Gas Production (2007): 2 million barrels per day
Area : 8,514,877 km2
Coastline: 7,370 km
Population: 187 million (2007)
Gross Domestic Product (2007): US$ 796 billion
GDP/capita (2007): US$ 4,420
Domestic Oil/Gas Production (2007): 2 million barrels per day
EcuadorEcuador
ColombiaColombia
VenezuelaVenezuela
GuyanasGuyanas
PeruPeru
BoliviaBolivia
ParaguaiParaguai
Chi
leC
hile
UruguaiUruguai
Arg
enti
naA
rgen
tina
BrasiliaBrasilia
Rio de JaneiroRio de Janeiro
BrazilBrazil
Brazil: Energetic Matrix
WORLDWORLD
B R A Z I LB R A Z I L
CoalCoal
CoalCoal
Natural GasNatural Gas
OilOil
OilOil
NaturalNaturalGasGas
HydraulicHydraulic
BiomassBiomass
Energetic Matrix Evolution and Forecast Energetic Matrix Evolution and Forecast
Estamos aquí
NAKICENOVIC, GRÜBLER E MACONALD, 1998.
0
10
20
30
40
50
60
70
80
90
100
1850 1900 1950 2000 2050 2100 years
%
Coal Coal
OthersOthers
Oil Oil Natural Gas Natural Gas
HydraulicHydraulicNuclearNuclear
SolarSolar
ModernBiomassModernBiomass
2008
Fossil - 87%
Brazilian Sedimentary BasinsBrazilian Sedimentary Basins
Exploration Concessions
• Total...: 302,9 M km2 (4,7%)- Petrobras...: 151,5 M km2
- Other Companies: 151,8 Mkm2
Brazilian Sedimentary Area
• TOTAL: 6.4 MM km2
• Onshore: 4.9 MM km2
• Offshore: 1.5 MM km2
Offshore (0/400m): 0.78 MM km2
Offshore (400/3,000m): 0.74 MM km2
Petrobras: An Integrated Company Petrobras: An Integrated Company
Income from Operations (%)2007 Summary Financials (US$ billions)
ServicesInternationalDownstreamUpstreamGas & EnergyFinance
- Net Income: 13.1 - Net Income: 13.1
- Investments: 21- Investments: 21
- - Net Revenue: 87.7 Net Revenue: 87.7
500.000500.000 investors in Brazil and abroad investors in Brazil and abroadGovernment w/ 55% voting sharesGovernment w/ 55% voting shares
Total Employees:Total Employees: 68.931 68.931
Downstream
16%
Domestic
E&P
81%
Distribution
3%
Petrobras: International Outlook Petrobras: International Outlook
CORE AREASCORE AREAS
Tr.&Tob.
USA
MEXICO
VENEZUELACOLOMBIA
PERU
ECUADOR
BOLIVIA
PARAGUAY
CHILE
ARGENTINA
BRASIL
HEADQUARTERS
E&P
Refining
Trading
Representative Office
TURKEY
IRANLYBIA
NIGERIA
EQUATORIAL GUINEA
ANGOLA
TANZANIA
MOZAMBIQUE
New York
UK
SINGAPORE
CHINA JAPAN
PORTUGAL
INDIA
1414
1212
1010
88
66
44
22
00
13,7513,75
6060 6262 6464 6666 6868 7070 7272 7474 7676 7878 8080 8282 8484 8686 8888 9090 9292 9494 9696 9898 0000 0202 06060404
Bi bbl Bi bbl (eq.)(eq.)
OnshoreOnshore
Shallow watersShallow waters
Deep waters (> 400m)Deep waters (> 400m)11,0111,01
Petrobras: Oil and Gas Reserves Petrobras: Oil and Gas Reserves
Oil Consumption & Production Forecast in Brazil (thousand bpd)Oil Consumption & Production Forecast in Brazil (thousand bpd)
52%52%52%52% 91%91% 9595%%9595%%Production/
ConsumptionProduction/
Consumption 112%112%112%112%70%70%
(*) Petrobras' estimate considering an average growth of 2.6 % per year
8691004
1132
12711336
1500 1540 1493
1686 1722 1769 1806 1802 17611700
2374
2117
0
500
1000
1500
2000
2500
1997 1998 1999 2000 2001 2002 2003 2004 2005 2011
1783
1684
20062006
Self-sufficiency
Petrobras’ Production Brazilian Consumption
Petrobras´ Exploration Drilling and Completion/Production evolution
OTCOTC19921992
OTCOTC20012001
2.590
944596
8441.098
1.5912.024
3.609
564
1.4481.770
4.007
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Recoverable Oil (Eq.) and Exploratory Success RatioRecoverable Oil (Eq.) and Exploratory Success Ratio
MM bblMM bbl
20%20%24%24% 23%23%
39%39%
50%50%55%55%
49%49%59%59%
Success RatioSuccess Ratio
Campos BasinHeavy Oil & Light Oil Campos BasinHeavy Oil & Light Oil
Santos BasinLight Oil & Natural GasSantos BasinLight Oil & Natural Gas
Espírito Santo BasinLight Oil & Natural GasEspírito Santo BasinLight Oil & Natural Gas
Sergipe-Alagoas BasinLight OilSergipe-Alagoas BasinLight Oil
Recent Discoveries - 2002/2007Recent Discoveries - 2002/2007
Proved Reserves...............: 3,80 B boeProved Reserves...............: 3,80 B boeProb + Poss Reserves.......: 4,50 B boeProb + Poss Reserves.......: 4,50 B boeEvaluation Areas (2007)..: 4,70 B boeEvaluation Areas (2007)..: 4,70 B boe
~ 13.0 B boer (2002-2007)
Domestic E&P ProfileDomestic E&P Profile
Offshore Oil and Gas PotencialOffshore Oil and Gas Potencial
9%9%
17%17%
68%68%
EXPLORATORY WELLS 2008-2012
Potiguar (88) onshore: 70offshore: 18
Potiguar (88) onshore: 70offshore: 18
SEAL& REC & TUC (90)onshore: 70offshore: 20
SEAL& REC & TUC (90)onshore: 70offshore: 20
Bahia Sul (26) Bahia Sul (26)
Esp.Santo (85)onshore: 45offshore: 40
Esp.Santo (85)onshore: 45offshore: 40
Campos (74) (74)Campos (74) (74)
Santos (80) (80)Santos (80) (80)
Ceara & Potiguar AP (8)Ceara & Potiguar AP (8)
Pelotas (2) (2)Pelotas (2) (2)
Equatorial Margin (12)Equatorial Margin (12)
Solimões (23)Solimões (23)
São Francisco (4)São Francisco (4)
Exploration: US$ 13.8 billion
PetrobrasOther Companies
Domestic Production Targets and Projection: 2007-2011-2015Domestic Production Targets and Projection: 2007-2011-2015
0
500
1000
1500
2000
2500
3000
3500
4000
1998 2000 2002 2004 2006
8,5%/year8,5%/year
8,0%/year8,0%/year(Thousand boe/d)(Thousand boe/d)
1,0041,004
179179
1.1801.180
2.0542.054
1.8121.812
2011Target2011
Target
2.9252.925
2,374
551
2015Forecast
1,5001,500
252252
276276
551551
724724
2.8122.812
3.5363.536OilOil
GasGas
2.3742.374
1,7781,778
Shallow Water Oil/Gas discoveries 1974-1984Shallow Water Oil/Gas discoveries 1974-1984
Deep Water Oil/Gas discoveries 1984-2002Deep Water Oil/Gas discoveries 1984-2002
Deep Water Oil/Gas discoveries 2003-2006Deep Water Oil/Gas discoveries 2003-2006
Ultra-deep water Oil/Gas discoveries 2006-2008Ultra-deep water Oil/Gas discoveries 2006-2008
Cluster Blocks
Ultra-deepwater Exploratory Blocks
Intra rift section
SAGBase of Salt
Top of Salt
Top of Albian
K section.
5 10 15 20 km0
Basement
W E
Rift section
Pre-Salt: Seismic Section in depth (meters)Pre-Salt: Seismic Section in depth (meters)
Pre-Salt New Frontier
Tupi Extended Well TestTupi Extended Well TestTupi Extended Well TestTupi Extended Well Test
FPSO
FPSO – 30,000 bopd
1 well
Water Depth: 2.170 m
Oil density: 28 – 42º API
Flare capacity: 1MM m3
ReservoirReservoir
N
1st oil: March/2009
WellWell
FPSO
Tupi Production PilotTupi Production PilotTupi Production PilotTupi Production Pilot
FPSO – 100,000 bopd and 4MMm3/day
Water Depth: 2.145 m
5 production wells, 2 water injectors and 1 gas injector
WellsWells
ReservoirReservoir
N
1st oil: Dec/2010
UTGCA
UGNRPBC
TEFRAN
TUPI Area
URGPMXL
PMLZ-1
170 Km
248 Km
212 Km
145 Km
To service the Pilot
Planned
Existing
Under Construction
Gas Pipeline for Tupi Pilot SystemGas Pipeline for Tupi Pilot SystemGas Pipeline for Tupi Pilot SystemGas Pipeline for Tupi Pilot System
HIGH REWARDHIGH REWARD
HIGH RISKSHIGH RISKS
HIGHHIGHINVESTMENTSINVESTMENTS
HIGHLYHIGHLYTRAINEDTRAINED
PROFESSIONALS PROFESSIONALS
TECHNOLOGYTECHNOLOGY
Petrobras/E&P
TECHNOLOGICAL INTEGRATION
R&D CENTER
Types: Contracts and agreements with Universities
and Research Centers with internal financial support
Contracts with external financial support Networks of excellence
Over 120 Brazilian Institutions
Types: Joint Industry Projects Cooperating Research Strategic Alliances Technology Interchange
Over 70 International Institutions
Petrobras Research Center (CENPES)
Thank You !Thank You !
Seminar on Marine Mineral Resources of the South and Equatorial Atlantic Ocean Seminar on Marine Mineral Resources of the South and Equatorial Atlantic Ocean