Company Report

Petrobras oil and gas exploration summary



You can pay by card or invoice



You can pay by card or invoice

Get this Company Report as part of a subscription

Enquire about subscriptions

Already have a subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

Submit your details to receive further information about this report.

  • An error has occurred while getting captcha image
For details on how your data is used and stored, see our Privacy Notice.

Report summary

Super-giant pre-salt discoveries in Brazil's deepwater Santos Basin since 2006 underpin Petrobras' exploration success and a give it a peer-leading growth outlook. As a result, international activities have been de-emphasised as resources are focused domestically. The development of the pre-salt resource to date has been impressive, but the company's deepwater ambitions are unprecedented in scale, and project delay and cost overruns are key downside risks. However, Petrobras has an enviable acreage position, which should ensure continuation of success. We estimate the Santos, Campos and Espírito Santo basins have potential to deliver 27 billion boe of resource out to 2035. Through its high average working interest, Petrobras has major exposure to this upside. The company is also exposed to other frontier basins in Brazil. No other company has exposure to such potential upside. Full details are provided in our report, and all data and analysis can be downloaded in excel and pdf format.

What's included

This report contains

  • Document


    XLS 739.00 KB

  • Document

    Petrobras oil and gas exploration summary

    PDF 508.14 KB

  • Document

    Petrobras oil and gas exploration summary

    ZIP 765.61 KB

Table of contents

  • Executive summary
    • Upstream strategy
    • Exploration outlook
    • Evolution of exploration strategy
  • Investment and costs
    • Well data
    • Scope of this report
    • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
    • High investment rate led to spectacular results, but has now dropped dramatically
    • Domestic exploration has been the key driver of Petrobras' out-performance
    • Limited success leveraging deepwater expertise internationally
    • Pulling back from the wider Latin America region

Tables and charts

This report includes 23 images and tables including:


  • Executive summary: Table 1
  • Full-cycle economics
  • SWOT grid
  • Exploration: Table 1
  • Top 40 discoveries (2007 to 2016)


  • Basins drilled and all conventional & organic unconventional discoveries 2007-2016
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Net active exploration acreage by water depth
  • Net active conventional acreage by country
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production: Image 1
  • Full cycle value creation by year, with uncons
  • Exploration returns by year, with uncons
  • Costs and development value by reserve category
  • Exploration returns by water depth

You may be interested in

Questions about this report?

  • Europe:
    +44 131 243 4699
  • Americas:
    +1 713 470 1900
  • Asia Pacific:
    +61 2 8224 8898