Country Report
Brazil upstream summary
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Brazil's production is expected to surpass the 4 MMboe/d mark this year. This comes after a hold back in the production growth in 2024 - down 1.6% year-on-year vs. 2023 due to an above-average number of planned and unplanned production stoppages. Petrobras keeps increasing production at their operated key pre-salt fields: the Almirante Tamandaré FPSO started production (Buzios field) in February and Alexandre de Gusmão (Mero field) in May. The Buzios 6 FPSO - P-78, is also ...
Table of contents
- Executive summary
- Key facts
- Location maps
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Key companies
- Petrobras
- Majors
- Local players
- Other international operators
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Geology
- Introduction
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Coastal basins
- Foz do Amazonas-Marajó basin
- Pará-Maranhão basin
- Barreirinhas basin
- Piaui-Ceará and Potiguar basins
- Pernambuco-Parnaiba basin
- Sergipe-Alagoas basin
- Recôncavo and Tucano basins
- Bahia Norte and Bahia Sul basins
- 4 more item(s)...
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Inland basins
- Amazonas basin
- Solimões basin
- São Francisco basin
- Parnaíba basin
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Exploration
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Licensing
- Future offshore and onshore activities
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Access opportunities
- ANP licensing rounds
- Petrobras divestment plan
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Drilling
- Drilling activity
- The onshore years
- The emergence of the Campos basin
- Pre-salt discoveries
- Equatorial Margin potential
- Atlantic Margin discoveries
- Sergipe-Alagoas Basin
- Espírito Santo Basin
- 1 more item(s)...
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Licensing
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Reserves and resources
- Oil and condensate
- Gas
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Production
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Oil and other liquids
- Future production
- Historical production
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Gas
- Future production
- Historical production
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Oil and other liquids
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Infrastructure
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Oil infrastructure
- Pipelines
- Refineries
- Gas infrastructure
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Oil infrastructure
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Costs
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Capital costs
- Capital expenditure by location
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Capital costs
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Policy and regulation
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Key legislation
- Current system
- Pre-salt legislation
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Regulatory body
- The ANP
- Pré-Sal Petróleo S.A. (PPSA)
- State oil company
- State participation
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Licensing
- Historical perspective
- Current concession regime
- Transfer of Rights (TOR) agreement
- Production sharing contract (PSC) regime
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Gas Prices
- Historic pricing (pre-2002)
- Price deregulation (post-2002)
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Liquids prices
- Pricing
- Domestic Market Obligation (DMO)
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Key legislation
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Fiscal terms
- Overview
- Current fiscal terms
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Concession
- Basis
- Government equity participation
- Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Landowner override
- Research and development obligation
- 6 more item(s)...
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Production sharing contract (PSC)
- Basis
- Government equity participation
- Fiscal terms
- Indirect taxes
- Royalty
- Research and development obligation
- PSC production sharing
- PSC cost recovery
- 6 more item(s)...
- Active legacy terms
Tables and charts
This report includes the following images and tables:
- Key facts: Table 1
- Country Map
- Reserves and contingent resources at 01/01/2025
- Liquids and Gas Production 2025
- Net Acreage 2025
- The sedimentary basins of Brazil
- Reserves and resources: Table 1
- Liquid Reserves by Basin
- Gas Reserves by Basin
- Gas infrastructure
- Production sharing contract (PSC)
- Fiscal terms: Table 16
- 38 more item(s)...
What's included
This report contains:
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