Pre-salt Bidding Rounds - britcham.com.br · The Pre-Salt in numbers Cumulative Production ~1,2...
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Décio Oddone, General Director Pre-salt Bidding Rounds June 1 st , 2017
Transcript of Pre-salt Bidding Rounds - britcham.com.br · The Pre-Salt in numbers Cumulative Production ~1,2...
Décio Oddone, General Director
Pre-salt Bidding Rounds
June 1st, 2017
O&G in Brazil: a historic opportunity1
Bidding Rounds3
The Pre-Salt2
Final Remarks4
Outline
No relevant private operations in the downstream, logistics and natural gas areas
O&G sector in Brazil since the 50’s
End of
monopoly
(Oil Act)
Petrobras
monopoly
1953 1975 1997
Risk contracts:
minimal impact
2016
Production share by
operator: 94%
Petrobras
New pre-salt law
2010
Policy and regulatory measures were necessary to restore sector’s dynamics
Five years without bidding rounds and collapse of the oil price:reduction in activity
91 94108
149
186 182 176
238 232
163
9485
39
5
0
50
100
150
200
250
Exploratory Wells Drilled
76 73
92104
132 133146 149
173
130
8173
22
1
0
40
80
120
160
200
Discovery Declaration
Ongoing Government Programs:
• REATE (Onshore revitalization)
• Gás para Crescer (Gas to Grow)
• Renovabio (Biorenews)
• Combustível Brasil (Brazil Fuel)
Private companies can now
operate blocks in the pre-salt
polygon
New E&P Policies under public
consultationOnshore
Offshore
New local content policy
Improvements in the Energy Policy
To encourage oil and gas exploration and
production
To carry out the bidding rounds
To stimulate field life extension and
maximize recovery
To improve contracts, simplify regulations
and speed processes
To act to develop a gas market that meets the
society’s interests
To promote investment in
production, distribution and resale of oil
products and biofuels
Improvements in the regulatory framework
The O&G sector is going through the greatest transformation since the foundation of
Petrobras in 1953
Bidding rounds
Schedule
Improvements in the Energy Policy
and regulation
Petrobras divestmentplan
Modernizedsupply chain
O&G sector in Brazil in 2017
O&G in Brazil: a historic opportunity1
Bidding Rounds3
The Pre-Salt2
Final Remarks4
Outline
E&P Overview
29 sedimentary basins
~259,000 Km² contracted area
311 exploratory blocks
443 fields
30,000 wells
The Pre-Salt
Pre-salt reserves in this
region contain
unparalleled potential in
terms of volume and
productivity
The Pre-Salt in numbers
Cumulative Production
~1,2 billion barrels
In place volumes already
discovered > 110 billion
barrels
Production (boepd)
2014 0.60 million
2015 0.95 million
2016 1.27 million
2017 1.54 million
Pre salt
0,00
0,50
1,00
1,50
2,00
2,50
3,002
00
8/0
1
20
08
/04
20
08
/07
20
08
/10
20
09
/01
20
09
/04
20
09
/07
20
09
/10
20
10
/01
20
10
/04
20
10
/07
20
10
/10
20
11
/01
20
11
/04
20
11
/07
20
11
/10
20
12
/01
20
12
/04
20
12
/07
20
12
/10
20
13
/01
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/04
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/07
20
13
/10
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/01
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20
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20
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15
/10
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16
/01
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/04
20
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/07
20
16
/10
20
17
/01
Pos salt
Total
Onshore
High quality reservoirs 27 API in average Large structures
Potential Resources: 30 billion barrels (contracted areas + new bidding rounds)
75 Wells in Production
(April,2017)
Salt Seal
High Commercial Success
Rate
Baleia Franca/Baleia
Azul/Jubarte
Oil: 205.680 bbl/d
Gas: 7.020 Mm3/d
Marlim Leste
Oil: 15.656 bbl/d
Gas: 273 Mm3/d
Barracuda/Caratinga
Oil: 14.715 bbl/d
Gas: 258 Mm3/d
Marlim/Voador
Oil: 4.755 bbl/d
Gas: 156 Mm3/d
Pampo
Oil: 302 bbl/d
Gas: 15 Mm3/d
Búzios (Well Test)
Oil: 502 bbl/d
Gas: 15 Mm3/d
Itapu
Oil: 28.289 bbl/d
Gas: 372 Mm3/d
Lapa
Oil: 44.224 bbl/d
Gas: 1.200 Mm3/dLula
Oil: 650.716 bbl/d
Gas: 27.628 Mm3/d
Sapinhoá
Oil: 242.631 bbl/d
Gas: 8.938 Mm3/d
Oil: 1.207.470 bbl/d Gas: 45.875 Mm³/d
Total: 75 Wells
Source: ANP/SIGEP
Pre-salt production per field (April, 2017)
Top 10 Oil Producers Wells (all in the pre-salt) - April, 2017
25.000
26.000
27.000
28.000
29.000
30.000
31.000
7JUB34HESS 7LL80DBRJS 8LL81DRJS 7LL84DRJS 7LL28DRJS 7SPH7DSPS 9LL20DRJS 1BRSA1116RJS 7SPH3SPS 8LL37DRJS
Oil
Pro
du
ctio
n(b
arre
lsp
er d
ay)
O&G in Brazil: a historic opportunity1
Bidding Rounds3
The Pre-Salt2
Final Remarks4
Outline
Future Bidding Rounds Focus Date
2017
14th Bidding Round East Margin and Onshore Basins 27th September
2nd Production Sharing Bidding
Round
Gato do Mato, Carcará, Sapinhoá and
Tartaruga Verde27th October
3rd Production Sharing Bidding
Round
Peroba, Pau Brasil, Alto de Cabo Frio Oeste
and Alto de Cabo Frio Central27th October
2018
15th Bidding Round Equatorial Margin and Onshore Basins May, 2018
4th Production Sharing Bidding
Round
Saturno, Três Marias, Uirapuru, C-M-537, C-
M-655, C-M-657 and C-M-709May, 2018
5th Marginal Fields Bidding Round To be defined To be defined
2019
16th Bidding Round East Margin and Onshore Basins 3rd Q 2019
5th Production Sharing Bidding
Round
Aram, Bumerangue and SE Lula, South and
SW Júpiter 3rd Q 2019
6th Marginal Fields Bidding Round To be defined To be defined
A calendar of bidding rounds for the first time ever
Blocks in offer contain areas excluded from the 9th Bidding Round
18 Pre-Salt Areas
2nd Production Sharing
Bidding Round
3rd Production Sharing
Bidding Round
4th Production Sharing
Bidding Round
5th Production Sharing
Bidding Round
Production Sharing Bidding Rounds
2nd Production Sharing Bidding
Round
Unitizable Area
Carcará and Gato do Mato in
Exploration Phase
Tartaruga Verde under
Development (First Oil ~ 2017)
Sapinhoá in production
(250,000bpd)
2nd Production Sharing Bidding Round
Carcará estimated in placevolumes: ~2.2 billion bbl
(outside the contracted area)
Carcará Sapinhoá
Gato do Mato Tartaruga Verde
Contracted Area
4 Unitizable Areas
2nd Production Sharing Bidding
Round3rd Production Sharing Bidding Round
Alto de Cabo Frio Central
Alto de Cabo Frio Oeste
Pau BrasilUnrisked in place volume: 4.1 Bbbl
PerobaUnrisked in place volume:5.3 Bbbl
4 Pre-Salt Areas
Production Sharing Contracts
2nd Production Sharing Bidding
Round
Area Minimum Aliquot (%)* Signature Bonus (Million R$)
Carcará 22.08% 3,000
Gato do Mato 11.53% 100
Sapinhoá 10.34% 200
Tartaruga Verde 12.98% 100
• Based on US$50/bbl the oil price and 11,000 bpd the average well production. Cap cost: 50% (Carcará) and 80%
(other areas) on gross revenue.
Area Minimum Aliquot (%)* Signature Bonus (Million R$)
Peroba 13.89% 2,000
Pau Brasil 14.40% 1,500
Alto de Cabo Frio Oeste 22.87% 350
Alto de Cabo Frio Central 21.38% 500
• Based on US$50/bbl the oil price and 12,000 bpd the average well production. Cap cost: 50% on gross revenue.
2nd and 3rd PSC Rounds Parameters
Concession Contracts
14thBidding Round
287 Blocks
15thBidding Round
16thBidding Round
Concessions Bidding Rounds
Block on offer R14
10 Blocks on Offer
Total Area ~5,500 km²
14th Bidding Round – Campos Basin
Sector AP3 with
potential for oil
accumulations in the
Pre-Salt play
The main oil and natural
gas producer in Brazil
+ US$ 80 billions in new
investments
+ 17 new production
units
+ 2 million bpd in 2027+ 600 km of gas
pipelines
+ 1,100 km of flowlines
+ Up to 20 drilling rigs
working simultaneously
+ 10 billion bbl of
Recoverable Volumes
+ 300 offshore wells
What we expect as a result of the bidding rounds
O&G in Brazil: a historic opportunity1
Bidding Rounds3
The Pre-Salt2
Final Remarks4
Outline
• Nine new bidding rounds are planned for 2017-2019 offering acreages
containing billion barrels of oil in place and creating opportunities for all
types of exploration and production companies
• The pre-salt blocks are among the most attractive exploration
opportunities available in the world
• For the first time there are relevant opportunities in the natural gas and
downstream sectors
• Companies interested in investing in E&P, in the supply chain and in the
service industry in Brazil have the largest window of opportunity in
decades
Final Remarks
National Agency of Petroleum, Natural Gas and Biofuels - ANP
Av. Rio Branco, 65, 21st floorRio de Janeiro – Brazil
Phone: +55 (21) 2112-8100
www.anp.gov.br
www.brasil-rounds.gov.br
