Country Report

Brazil upstream summary

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10 April 2019

Brazil upstream summary

Report summary

The state of play after Brazil's second opening to investment - Since 2016, long-standing regulatory issues that kept large discoveries undeveloped and diminished the attractiveness of exploration acreage have been addressed. The local content reform, allowing non-Petrobras operators within the pre-salt polygon, the reduction of royalties for mature fields, and the extensive Petrobras`s divestment plan have seen industry interest in Brazil increase exponentially. ExxonMobil, Shell, ...

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
      • Espírito Santo basin
      • Campos basin
      • Santos basin
      • Pelotas basin
    • 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
      • Espírito Santo basin
      • Success rates
    • 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
      • Special participation tax (Participação especial)
      • Corporate income tax
      • Fiscal treatment of decommissioning costs
      • Product pricing
      • Summary of modelled terms
      • Sample cash flow
    • Production sharing contract (PSC)
      • Basis
      • Government equity participation
      • Fiscal terms
      • Indirect taxes
      • Royalty
      • Research and development obligation
      • PSC production sharing
      • PSC cost recovery
      • PSC profit sharing
      • Corporate income tax
      • Fiscal treatment of decommissioning costs
      • Product pricing
      • Summary of modelled terms
      • Sample cash flow
    • Active legacy terms

Tables and charts

This report includes 51 images and tables including:

  • Key facts: Table 1
  • Country Map
  • Remaining Commercial and Technical Reserves at 01/01/2019
  • Liquids and Gas Production 2018
  • Net Acreage 2019
  • The sedimentary basins of Brazil
  • Reserves and resources: Table 1
  • Commercial liquid reserves by basin
  • Commercial gas reserves by basin
  • Production sharing contract (PSC)
  • Fiscal terms: Table 16
  • Fiscal terms: Table 17
  • Fiscal terms: Table 18
  • Fiscal terms: Table 19
  • Fiscal terms: Table 20
  • 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
  • Production: Table 1
  • Production: Table 2
  • Liquids production by basin
  • Production: Table 3
  • Production: Table 4
  • Gas sales by basin
  • Oil infrastructure
  • Infrastructure: Table 1
  • Gas infrastructure
  • Costs: Table 1
  • Costs: Table 2
  • Policy and regulation: Table 1
  • Policy and regulation: Table 2
  • Fiscal terms: Table 1
  • Fiscal terms: Table 2
  • Fiscal terms: Table 3
  • Fiscal terms: Table 4
  • Fiscal terms: Table 5
  • Fiscal terms: Table 6
  • Fiscal terms: Table 7
  • Fiscal terms: Table 8
  • Fiscal terms: Table 9
  • Fiscal terms: Table 10
  • Fiscal terms: Table 11
  • Fiscal terms: Table 12
  • Fiscal terms: Table 13
  • Fiscal terms: Table 14

What's included

This report contains:

  • Document

    Country Overview

    PDF 16.83 MB

  • Document

    Country Overview

    XLS 914.00 KB

  • Document

    Country Overview

    ZIP 16.75 MB

  • Document

    Executive summary

    PDF 703.30 KB

  • Document

    Key facts

    PDF 685.27 KB

  • Document

    Location maps

    PDF 5.20 MB

  • Document

    Key companies

    PDF 738.57 KB

  • Document

    Geology

    PDF 4.33 MB

  • Document

    Exploration

    PDF 786.55 KB

  • Document

    Reserves and resources

    PDF 745.54 KB

  • Document

    Production

    PDF 772.36 KB

  • Document

    Infrastructure

    PDF 8.28 MB

  • Document

    Policy and regulation

    PDF 756.31 KB

  • Document

    Fiscal terms

    PDF 824.75 KB

  • Document

    Costs

    PDF 710.32 KB

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