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17 Pages

Petrobras oil and gas exploration summary


Petrobras oil and gas exploration summary

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 production growth outlook. Petrobras has created more value and discovered more resource than any other company over the last ten years. As a result, international activities have been de-emphasised as resources and investment are focused domestically. 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 26 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 frontier basins in Brazil, including the highly prospective Foz do Amazonas-Marajo and Barreirinhas basins on the Equatorial Margin, and the emerging Sergipe-Alagoas Basin in the Atlantic Margin. No other company has exposure to such potential upside.

What's included?

This report includes 2 file(s)

  • Petrobras oil and gas exploration summary PDF - 538.81 KB 17 Pages, 5 Tables, 18 Figures
  • Petrobras.xls XLS - 611.00 KB

Description

Affected by supply and demand, the economy of individual countries and technological breakthroughs, oil and gas exploration is an industry in constant motion. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.

This Exploration Summary report quantifies the company's exploration volume and value performance over the past 10 years, and reviews its outlook for future success.

Businesses can use this report to get a detailed analysis of this company, what exploration areas they're involved in, what wells to watch and how well placed they are. It will help you understand company performance and shows how the best explorers have achieved their success.

Wood Mackenzie benchmarks exploration results for over 40 companies. Our analysts provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies. We are the established global industry standard for oil and gas exploration performance.

  • Executive summary
  • Strategy
    • Upstream strategy
    • Exploration outlook
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
    • Scope of this report
  • Production
  • Valuation
    • High investment rate leads to spectacular results, but may come under pressure
    • Domestic exploration has been the key driver of Petrobras' out-performance
    • Leveraging deepwater expertise internationally
    • Pulling back from the wider Latin America region

In this report there are 23 tables or charts, including:

  • Executive summary
    • Basins drilled and all conventional & organic unconventional discoveries 2006-2015
    • Executive summary: Table 1
  • Strategy
    • SWOT grid
    • Net active exploration acreage by water depth
    • Net active conventional acreage by country
  • Investment and costs
    • Exploration & appraisal spend and reinvestment
    • Exploration & appraisal spend by water depth
    • Exploration & appraisal spend by basin maturity
    • Discovery costs by water depth
  • Exploration
    • Exploration: Table 1
    • Exploration wells drilled and spend per well
    • Exploration success rates
  • Reserves and resources
    • Top 40 discoveries (2006 to 2015)
    • Volumes discovered by year
    • Volumes discovered by water depth
    • Volumes discovered by country
    • Volumes discovered by basin
  • Production
    • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Valuation
    • Full-cycle economics
    • 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
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