Brazil is the largest oil producer in South America, the ninth largest
global oil producer, seventh largest oil consumer, and has the largest
recoverable ultra-deep oil reserves in the world.
Significant energy reforms, frequent oil finds, along with recent and
future oil bidding rounds have attracted International Oil Companies
(IOCs) from around the world to bid on opportunities in Brazil.
Petrobras is looking to sell under its ongoing divestment
program. They include upstream offshore and onshore oil fields as well
as downstream facilities. Divestment teasers can be viewed
Opportunities also exist to bid on the Open Acreage program of
onshore and shallow water blocks under permanent offer by ANP, as it
can be seen at: rodadas.anp.gov.br
In-Country Business Development Since 2016
Operational Foundation Established
Assets Acquired - 38 Blocks and 257,604 acres in 2 basins
Significant Pipeline of Targeted Assets
Onshore oil fields have government royalties ranging from 5% to 10% enabling higher production netbacks.
Ongoing Petrobras auctions of significant portfolios of both onshore and shallow water oil & gas fields present growth opportunities.
Four rounds completed in 2019 and three completed in 2021 provided growth opportunities and enabled portfolio development with low capital expenditures, with further bidding rounds planned for 2022 and beyond.
Favorable pricing tied to Brent, sold at the well head with no transportation costs.