Insight

Into the unknown – extending Brazil’s pre-salt play

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Brazil's pre-salt is among the most high-profile deepwater plays in the world. Since the first pre-salt discovery – Lula, made by Petrobras in 2006 – other discoveries have added 26 bnboe to the country’s resource base. Today, the pre-salt output corresponds to 70% of Brazil’s total liquid production. Despite the excellent track record, more recent results have been disappointing. Several high-profile pre-salt well failures have left explorers wondering about the region’s future prospectivity. In this report we provide an overview of what makes the pre-salt work, how we see the technical risks and how commercial risk exposure could be reduced through improved terms.

Table of contents

  • Executive summary
  • A new paradigm for the pre-salt play?
  • What makes the pre-salt work?
    • Presence of CO 2
    • Variable reservoir quality
    • High GOR
    • Presence of effective seal
  • Key pre-salt players
  • What will help companies to unlock pre-salt discoveries ?
  • Is the pre-salt still a good place to be?

Tables and charts

This report includes 6 images and tables including:

  • Brazil’s largest pre-salt fields and exploration wells
  • Recent wells drilled
  • Pre-salt depositional model
  • Players in pre-salt PSC blocks
  • IRR for different volumes and fiscal terms in Brazil
  • A Mero-sized discovery under high profit shares in Brazil returns a similar IRR as a 200 mmboe under Canada terms

What's included

This report contains:

  • Document

    Into the unknown – extending Brazil’s pre-salt play

    PDF 1.18 MB