Oil Exploration and Production in the Santos Basin: With Impressive Oil Potential and an Area of Over 11,000 km², ANP Approves Studies for 3 Blocks in the Pre-Salt

Escrito por Roberta Souza

Publicado em 29/09/2023 às 19:18

Foto: Reprodução Petrobras

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The Blocks of the Santos Basin in Focus Are Amazonita, Safira Leste, and Safira Oeste and, If Approved, May Be Included in Future Bidding

The National Agency of Petroleum, Natural Gas and Biofuels (ANP) took an important step towards expanding oil and natural gas exploration activities in Brazil. This Thursday (28), the ANP approved the geological and economic studies of three exploratory blocks in the pre-salt of the Santos Basin. This approval is the first step for the possible inclusion of these blocks in future bidding rounds for areas to explore and produce oil and natural gas, according to Portos e Navios.

The oil exploration blocks that underwent ANP studies in the Santos Basin are Amazonita, Safira Leste, and Safira Oeste. With the ANP’s approval, these blocks will now be forwarded to the Ministry of Mines and Energy (MME) for a more detailed analysis of the viability for inclusion in future bidding rounds. The final decision regarding the inclusion of these blocks from the Santos Basin in bidding lies with the National Council for Energy Policy (CNPE), and the MME plays a key role in this process, defining the blocks and the parameters to be adopted.

Potential Oil Exploration and Geoeconomic Studies in the Santos Basin

The three blocks in question in the Santos Basin have a total area of approximately 11,300 km² and an impressive oil potential, estimated based on an in-place volume of 16.8 billion barrels of oil equivalent. The estimated total average recoverable volume is 3.6 billion barrels of oil equivalent.

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These blocks were proposed by entities in the oil and natural gas industry for analysis by the ANP as part of the area nomination process. The ANP conducted comprehensive assessments, considering the oil potential, exploration risk, and economic analyses of these areas in the Santos Basin. The studies indicate that these blocks hold potential for natural gas exploration and production and suggest conditions that are viable both technically and financially.

Geographical Focus and New Exploratory Frontier

These studies focused on sectors SS-AP1 and SS-AP2, currently classified as having high exploratory potential, as well as on sectors SS-AUP1 and SS-AUP2, associated with the new exploratory frontier model. This demonstrates the ANP’s willingness to explore areas with different levels of exploratory potential and contribute to the sustainable development of the oil and gas industry in Brazil.

This approval by the ANP represents a significant step towards expanding exploration and production activities in the pre-salt of the Santos Basin, strengthening Brazil’s position as a major global player in the oil and gas industry. The process now moves to evaluation and decision by the Ministry of Mines and Energy, which will determine whether these blocks will be included in future bidding rounds.

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