Offshore and Subsalt Discoveries in Brazil - Market Analysis, Competitive Landscape and Production Forecasts to 2015

GlobalData, December 2011, Pages: 46

Offshore and Subsalt Discoveries in Brazil - Market Analysis, Competitive Landscape and Production Forecasts to 2015

Summary

“Offshore and Subsalt Discoveries in Brazil - Market Analysis, Competitive Landscape and Production Forecasts to 2015”, is the latest report from industry analysis specialists GlobalData, offering comprehensive information on the Brazilian offshore and subsalt market and details on discoveries, exploration blocks and production forecasts. It highlights the key issues and trends in the Brazilian offshore and subsalt market and provides an in-depth analysis of key Brazilian offshore and subsalt discoveries, exploration blocks, exploration acreages and production figures. The report also focuses on the competitive landscape of key companies operating in the region.

Scope

The report provides detailed information and analysis of the Brazilian offshore and subsalt market by discoveries and exploration blocks. The report primarily focuses on -
- In-depth analysis of offshore and subsalt discoveries in Brazil, including key offshore discoveries made across the three major subsalt basins: Campos, Santos and Espirito Santo basin.
- Production forecasts through to 2015, including details of oil and gas production in the Brazil’s subsalt basins.
- The major trends, including some of the drivers and challenges for offshore and subsalt industry participants.
- The report also comprises a market analysis of offshore and subsalt exploration blocks in Brazil.
- It discusses the major national oil company’s investments in offshore and subsalt discoveries in Brazil.

Reasons to buy

- Develop business strategies with the help of specific insights into the Brazilian exploration and production market.
- Identify opportunities and challenges in the Brazilian E&P industry, especially the subsalt sources.
- Understand the policy landscape and the proposed changes in the Brazilian government’s policies on subsalt resources.
- Increase future revenue and profitability with the help of insights into future opportunities and critical success factors in the nascent subsalt resource industry.
- Identify the opportunities to partner with major players and enter this prolific upstream investment destination.
- Make smart investment decisions in the offshore and subsalt markets by leveraging on our detailed insights into the industry.

Keywords

Brazil Offshore Subsalt plays, Santos basin, Campos basin, Espirito Santo basin, Brazil offshore subsalt discoveries, Brazil offshore subsalt production forecast, Brazil offshore subsalt competitive landscape

1
1

1.1 List of Tables
1.2 List of Figures
2 Introduction
2.1 Overview
2.2 GlobalData Report Guidance
3 Brazil’s Subsalt Plays, An Overview
3.1 Brazil, Detailed Information on Subsalt Basins
3.1.1 Brazil, Santos Basin Subsalt
3.1.2 Brazil, Campos Basin Subsalt
3.1.3 Brazil, Espirito Santo Basin Subsalt
3.2 Offshore and Subsalt Discoveries in Brazil, Brazil Fiscal and Regulatory Regime
3.2.1 Governing Law
3.2.2 National Oil Company
3.2.3 License Terms
3.2.4 Exploration License Duration
3.2.5 Relinquishment during Exploration
3.2.6 Exploration Obligation
3.2.7 Production Rights, Area & Duration
3.3 Key Fiscal Terms
3.3.1 Royalty
3.3.2 Participation Fees
3.3.3 Signature Bonus
3.3.4 Petroleum Resource Rentals
3.3.5 Taxation
3.3.6 Deductions and Depreciation
4 Subsalt Discoveries in Brazil, Current Trends and Challenges
4.1 Substantial Oil and Gas Resources Are Driving Subsalt Developments in Brazil
4.1.1 Brazil Witnessed the Highest Number of Discoveries in the World in 2011
4.1.2 Brazil’s Offshore and Subsalt Region is Witnessing Increased Exploration Activities
4.2 Global Integrated and Independent Oil Companies, along with Petrobras, are Key Participants in the Development of Offshore and Subsalt Resources in Brazil
4.3 FPSO Units are Playing a Pivotal Role in Subsalt Development in Brazil
4.4 Sustained High Global Crude Oil Prices have Made Subsalt Development in Brazil Economically Viable
4.5 Challenges for Subsalt Exploration and Production
4.5.1 Environmental Challenges
4.5.2 Technical Challenges
4.5.3 Regulatory Challenges
5 Subsalt Discoveries in Brazil, Key Active Exploration Blocks by Acreage
5.1 Subsalt Discoveries in Brazil, Santos Basin Key Active Exploration Blocks by Acreage
5.2 Subsalt Discoveries in Brazil, Campos Basin Key Active Exploration Blocks by Acreage
5.3 Subsalt Discoveries in Brazil, Espirito Santo Basin Key Active Exploration Blocks by Acreage
6 Subsalt Discoveries in Brazil, Discoveries by Basins
6.1 Oil & Gas Discoveries by Top Operators
6.2 Subsalt Discoveries in Brazil, Offshore Discoveries by Blocks
6.2.1 Subsalt Discoveries in Brazil, Offshore Discoveries by Blocks, Santos Basin
6.2.2 Subsalt Discoveries in Brazil, Offshore Discoveries by Blocks, Campos Basin
6.2.3 Subsalt Discoveries in Brazil, Offshore Discoveries by Blocks, Espirito Santo Basin
7 Brazil Offshore Oil and Gas Production
7.1 Brazil Offshore Oil and Gas Production from Santos, Campos, Espirito Santo Basins
7.2 Subsalt Discoveries in Brazil, Brazil Offshore and Subsalt Oil and Gas Production Forecast
8 Subsalt Discoveries in Brazil, Competitve Landscape
8.1 Subsalt Discoveries in Brazil, Petroleo Brasileiro S.A.
8.2 Subsalt Discoveries in Brazil, Royal Dutch Shell Plc
8.3 Subsalt Discoveries in Brazil, OGX Petroleo e Gas Participacoes SA
9 Appendix
9.1 Market Definitions
9.2 Abbreviations (in alphabetical order)
9.3 Sources
9.4 Methodology
9.4.1 Coverage
9.4.2 Secondary Research
9.4.3 Primary Research
9.4.4 Expert Panel Validation
9.5 Contact Us
9.6 Disclaimer

1.1 List of Tables
Table 1: Offshore and Subsalt Discoveries, Brazil, Santos Basin, Key Data, 2011
Table 2: Offshore and Subsalt Discoveries in Brazil, Santos Basin, Key Operators by Number of Blocks, 2011
Table 3: Offshore and Subsalt Discoveries Brazil, Campos Basin, Key Data 2011
Table 4: Offshore and Subsalt Discoveries, Brazil, Campos Basin, Key Operators by Number of Blocks, 2011
Table 5: Offshore and Subsalt Discoveries, Brazil, Espirito Santo Basin, Key Data, 2011
Table 6: Offshore and Subsalt Discoveries Brazil, Espirito Santo Basin, Key Operators by Number of Blocks, 2011
Table 7: Offshore Brazil, License Rental Rates, 2009
Table 8: Oil & Gas Discoveries by Top Countries, Global, September 2011
Table 9: Oil & Gas Discoveries By Top Basins, Global, September 2011
Table 10: Offshore and Subsalt Discoveries, Active FPSO Units, Brazil, 2011
Table 11: Offshore and Subsalt Discoveries Brazil, Santos Basin, Key Active Exploration Blocks, km2, August 1998–2010
Table 12: Offshore and Subsalt Discoveries Brazil, Campos Basin, Key Active Exploration Blocks, km2, August 2001–2008
Table 13: Offshore and Subsalt Discoveries Brazil, Espirito Santo Basin, Key Active Exploration Blocks, km2, September 2001 – 2008
Table 14: Oil & Gas Discoveries by Top Operators, Brazil, 2011
Table 15: Offshore and Subsalt Discoveries in Brazil, Santos Basin, Offshore Discoveries, 2001– July 2011
Table 16: Offshore and Subsalt Discoveries in Brazil, Santos Basin, Key Offshore Discoveries by Block, 2001-July 2011
Table 17: Offshore and Subsalt Discoveries in Brazil, Campos Basin, Offshore Discoveries, 2001–July 2011
Table 18: Offshore and Subsalt Discoveries in Brazil, Campos Basin, Key Offshore Discoveries by Key Blocks, 2001-July 2011
Table 19: Offshore and Subsalt Discoveries in Brazil, Espirito Santo Basin, Offshore Discoveries, 2001–July 2011
Table 20: Offshore and Subsalt Discoveries in Brazil, Espirito Santo Basin, Key Offshore Discoveries by Key Blocks, 2001–July 2011
Table 21: Offshore and Subsalt Discoveries in Brazil, Production from Top Fields in Subsalt Basins MMboe, 2010
Table 22: Offshore and Subsalt Discoveries in Brazil, Production Forecast, MMboe, 2011–2015
Table 23: Offshore and Subsalt Discoveries in Brazil, Petrobras Production, Brazil, MMboe, 2000-2010
Table 24: Offshore and Subsalt Discoveries in Brazil, Royal Dutch Shell Active New Exploration and Expansion Blocks, Brazil, 2011
Table 25: Offshore and Subsalt Discoveries in Brazil, Royal Dutch Shell Plc, Oil and Gas Production Data, Brazil, 2000–2010
Table 26: Offshore and Subsalt Discoveries in Brazil, OGX Active New Exploration and Expansion Blocks, Brazil, 2011

1.2 List of Figures
Figure 1: Offshore and Subsalt Discoveries, Brazil’s Subsalt Plays, 2011
Figure 2: Offshore and Subsalt Discoveries, Brazil, Santos Basin Key Blocks, 2011
Figure 3: Offshore and Subsalt Discoveries, Brazil, Campos Basin Key Blocks, 2011
Figure 4: Offshore and Subsalt Discoveries, Brazil, Espirito Santo Basin, Key Blocks, 2011
Figure 5: Oil & Gas Discoveries by Top Countries, Global, September 2011
Figure 6: Oil & Gas Discoveries By Top Basins, Global, September 2011
Figure 7: Offshore and Subsalt Discoveries in Brazil, Oil & Gas Exploration Blocks By Subsalt Basins, 2000-2008
Figure 8: Brent Global Crude Oil Prices, $ per barrel, October 2010–September 2011
Figure 9: Offshore and Subsalt Discoveries in Brazil, Santos Basin, Blocks Offered in Ninth Licensing Round, 2010
Figure 10: Offshore and Subsalt Discoveries in Brazil, Campos Basin, Blocks Offered in Ninth Licensing Round, 2008
Figure 11: Offshore and Subsalt Discoveries in Brazil, Espirito Santo Basin, Blocks Offered in Ninth Licensing Round
Figure 12: Oil & Gas Discoveries by Top Basins, Brazil, 2001–2011
Figure 13: Offshore and Subsalt Discoveries in Brazil, Oil and Gas Production Forecast, MMboe, 2011-2015
Figure 14: Offshore and Subsalt Discoveries in Brazil, Petrobras Discoveries, Brazil, 2004–2011
Figure 15: Offshore and Subsalt Discoveries in Brazil, Exploration Basins of OGX, Brazil, 2011

“Offshore and Subsalt Discoveries in Brazil - Market Analysis, Competitive Landscape and Production Forecasts to 2015”, is the latest report from industry analysis specialists GlobalData, offering comprehensive information on the Brazilian offshore and subsalt market and details on discoveries, exploration blocks and production forecasts. It highlights the key issues and trends in the Brazilian offshore and subsalt market and provides an in-depth analysis of key Brazilian offshore and subsalt discoveries, exploration blocks, exploration acreages and production figures. The report also focuses on the competitive landscape of key companies operating in the region

Brazil’s Subsalt Basins Recorded the Highest Number of Discoveries in 2011

Brazil has recorded the most oil and gas discoveries in 2011 to September 2011. The country has recorded 19 discoveries in the current year out of a total of 109 discoveries globally. Of the 19 oil and gas discoveries in Brazil, 17 were made in offshore basins in Brazil’s subsalt region. Brazil’s Campos basin was the site of eight discoveries, followed by the Santos basin and Espirito Santo basin with five discoveries each.

The figure and table below outline how many oil and gas discoveries were made in the major basins in 2011.

Oil & Gas Discoveries by Major Basins, Global, 2011

Source: GlobalData, Oil & Gas eTrack, Upstream, Oil & Gas Discoveries Database

Petrobras Dominates the Subsalt Activities in Brazil

Brazil’s national oil company Petróleo Brasileiro S.A. (Petrobras) maintains clear dominance over the entire exploration and production activities in the country’s offshore and subsalt plays. The company contributes the most in terms of production volumes, investments and exploration. It holds the highest number of active new exploration and extension licenses in all three subsalt basins: Santos, Campos and Espirito Santo.

The operations of Petrobras are backed by Brazil’s government. Under a regulatory decision by the Brazilian petroleum agency, Petrobras is set to be an operator across several blocks in the subsalt prospects and the company will maintain a minimum 30% equity stake in any future block licenses. This is in addition to participation in the licensing rounds conducted by Brazil’s National Petroleum Agency (ANP), (Agência Nacional do Petróleo).

The figure below compares the oil and gas production volumes of various companies in Brazil’s offshore and subsalt basins during 2001–2011.

Offshore and Subsalt Discoveries, Oil & Gas Production by Key Companies, Brazil, Mbbl, 2000-2010

Source: GlobalData, Oil and Gas eTrack, Production Database

As highlighted by the figure above, Petrobras maintains a clear lead in oil and gas production volumes in Brazil’s subsalt region. Since 2009 the share of production by international companies has started to increase. This was primarily due to the active participation of these companies in the country’s licensing rounds for exploration.

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