Brazil upstream summary
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Report summary
Brazil is one of the world's pre-eminent hydrocarbon countries. The combination of world-class exploration success in its deepwater basins and the fact that it remains open to private investment attracts the attention of the world's largest E&P companies, although state oil company Petrobras remains the principal player.The pre-salt discoveries of 2006, particularly in the Santos basin, propelled the country into the limelight following several years of disappointing production. ...
Table of contents
- Executive summary
- Key facts
- Location maps
- Key companies
-
Geology
- 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
- Espírito Santo basin
- Campos basin
- Santos basin
- Pelotas basin
-
Inland basins
- Amazonas basin
- Solimões basin
- São Francisco basin
- Parnaíba basin
-
Exploration
- Licensing
- Access opportunities
- Early years
- Risk contracts
-
Petrobras' monopoly ends
- Round Zero
-
ANP licensing rounds
- Concession Rounds
- Production Sharing Contract (PSC) Rounds
- Marginal Fields Round and areas on permanent offer
- Petrobras-offered opportunities
-
Drilling
- Drilling activity
- The onshore years
- The emergence of the Campos basin
- Pre-salt discoveries
- Equatorial margin potential
- Atlantic margin discoveries
- Espírito Santo basin
- Success rates
-
Reserves and resources
- Oil and condensate
- Gas
-
Production
- Oil and other liquids
- Gas
-
Infrastructure
-
Oil infrastructure
- Pipelines
- Refineries
-
Gas infrastructure
- Domestic pipelines
- International pipelines and terminals
-
Oil infrastructure
-
Policy and regulation
-
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)
-
Key legislation
-
Fiscal terms
- Overview
- Current fiscal terms
-
Concession regime
- Royalty
- Landowner override
- Research and development obligation
- Export duty
- Signature bonuses
- Area rentals
- Training fees
- Special Participation Tax (SPT)
-
Production sharing contract (PSC) regime
- Operator
- Contract duration
- Royalty
- Cost oil
- Profit oil
-
Indirect taxes
- Import duties (I.I. and IPI)
- State Value Added Tax (ICMS)
- CIDE
- Withholding tax on subcontractor income
- Municipal Service Tax (ISS)
- PIS and COFINS
- Tax on Financial Transactions (IOF) (previously the Financial Transaction Tax, CPMF)
- REPETRO
-
Corporate income tax
- Tax rate
- Taxable income
- Investment uplift/credit
- Loss carry forward
- Ring fences
- Marginal government take calculation
Tables and charts
This report includes 37 images and tables including:
- Key facts: Table 1
- Country Map
- Remaining Commercial and Technical Reserves at 01/01/2018
- Liquids and Gas Production 2018
- Net Acreage 2018
- The sedimentary basins of Brazil
- Reserves and resources: Table 1
- Commercial liquid reserves by basin
- Commercial gas reserves by basin
- Production: Table 1
- Production: Table 2
- Liquids production by basin
- Production: Table 3
- Production: Table 4
- Gas sales by basin
- Fiscal terms: Table 6
- Fiscal terms: Table 7
- Geology: Image 2
- Geology: Image 3
- Geology: Image 4
- Geology: Image 5
- Exploration: Table 1
- Exploration: Table 2
- Drilling activity by well type
- Drilling activity and commercial success rates
- Technical and commercial success rates
- Oil infrastructure
- Infrastructure: Table 1
- Gas infrastructure
- Policy and regulation: Table 1
- Policy and regulation: Table 2
- Policy and regulation: Table 3
- Fiscal terms: Table 1
- Fiscal terms: Table 2
- Fiscal terms: Table 3
- Fiscal terms: Table 4
- Fiscal terms: Table 5
What's included
This report contains:
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