Country Report

Brazil upstream summary

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An above-average number of planned and unplanned production stoppages hold back Brazil production growth in 2024 - down 1.6% year-on-year vs. 2023. The start-up of three FPSOs late in the year haven't been able to offset the 2024 decline but set the scene for 2025 growth - Petrobras-operated Marechal Duque de Caixas (Mero) produced first oil in October, Maria Quitéria (Novo Campo de Jubarte) started earlier than planned also in October and Brava Energia-operated FPSO Atlanta ...

Table of contents

  • Executive summary
  • Key facts
  • Location maps
    • Petrobras
    • Majors
    • Local players
    • Other international operators
    • Introduction
    • 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)...
    • Inland basins
      • Amazonas basin
      • Solimões basin
      • São Francisco basin
      • Parnaíba basin
    • Licensing
      • Future offshore and onshore activities
    • Access opportunities
      • ANP licensing rounds
      • Petrobras divestment plan
    • 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)...
    • Oil and condensate
    • Gas
    • Oil and other liquids
      • Future production
      • Historical production
    • Gas
      • Future production
      • Historical production
    • Oil infrastructure
      • Pipelines
      • Refineries
    • Gas infrastructure
      • Domestic pipelines
      • International pipelines and terminals
    • Capital costs
      • Capital expenditure by location
    • Key legislation
      • Current system
      • Pre-salt legislation
    • Regulatory body
      • The ANP
      • Pré-Sal Petróleo S.A. (PPSA)
    • State oil company
    • State participation
    • Licensing
      • Historical perspective
      • Current concession regime
      • Transfer of Rights (TOR) agreement
      • Production sharing contract (PSC) regime
    • Gas Prices
      • Historic pricing (pre-2002)
      • Price deregulation (post-2002)
      • Reference gas prices
      • Transportation tariffs
    • Liquids prices
      • Pricing
    • Domestic Market Obligation (DMO)
    • Overview
    • Current fiscal terms
    • Concession
      • Basis
      • Government equity participation
      • Fiscal terms
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Landowner override
      • Research and development obligation
      • 6 more item(s)...
    • 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
  • Production sharing contract (PSC)
  • Fiscal terms: Table 16
  • Fiscal terms: Table 17
  • 38 more item(s)...

What's included

This report contains:

  • Document

    Country Overview

    PDF 16.93 MB

  • Document

    Country Overview

    XLS 1.67 MB