Brazil's Subsalt Discoveries - Offshore Brazil Emerges As A Leading Investment Destination
Brazil's Subsalt Discoveries - Offshore Brazil Emerges as a Leading Investment Destination for Global Oil and Gas Companies
Summary
Brazil's Subsalt Discoveries - Offshore Brazil Emerges as a Leading Investment Destination for Global Oil and Gas Companies analyzes subsalt discoveries in Brazil, which have transformed Brazils offshore region into one of the most attractive upstream investment destinations globally. Brazil has quickly emerged as the one of the important regions for offshore crude oil production in the world. With new fields, mostly offshore, and huge reserves being discovered in recent years, Brazil is fast emerging as the top crude oil producer. Subsalt reserves which are typically petroleum reserves thousands of meters below layers of sand and rocks and salt contain huge reserves of oil. Recent sub-salt discoveries have transformed Brazil into a country with one of the highest potential investment acreages globally. Tupi Field, which was discovered in November 2007, is the largest discovery in North and South & Central Americas since 1970. It has estimated recoverable reserves of 5-8 billion barrels. This discovery in the pre-salt layer, which extends from the State of Esprito Santo to the State of Santa, is considered as one of the most attractive exploration acreages worldwide. It will increase Brazils recoverable reserves of crude oil by 50%, which will significantly increase the revenues of the countrys oil and gas industry.
Scope
The report provides a detailed analysis of Brazils subsalt discoveries. Its scope include;
- Analysis of Brazils upstream sector, detailing the countrys subsalt basins and major activities in these basins during 2000-2009, also providing forecast for the upstream industry to 2020
- The report details the major discoveries announced in the subsalt basins during 2006-2009
- The report discusses the historical licensing rounds, key fiscal terms in offshore Brazil and the proposed new legislation for the subsalt areas
- It also discusses the major companies operating in the subsalt basins namely Petrobras, BG Group, Petrogal, Repsol and others, detailing their assets and major activities
- The report details the major challenges, capital requirement and investments in the development of Brazils subsalt reserves
- The report also discusses the growing role of Brazil in global oil and gas market as a result of increasing production from subsalt basins during 2009-2020.
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