ANP Forecasts Over R$ 500 Billion Investment in Oil and Gas by 2028

Written by Ruth Rodrigues

Published on 02/02/2024 at 17:58

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ANP Reveals Investment, Activity, and Production Forecasts for Oil and Natural Gas in Brazil Until 2028. The Santos and Campos Basins Are Set to Receive the Most Resources. The Production Phase of Current Contracts Is Expected to Generate Over R$ 500 Billion During This Period.

According to information released by Petronotícias, Brazil’s oil and natural gas sector is set to receive a significant boost in the coming years, with projected investments exceeding R$ 500 billion during the production phase of current contracts. This information was disclosed by the National Agency of Petroleum (ANP), which also highlighted the Santos and Campos basins as the main recipients of these resources.

Santos and Campos Basins Lead Investment Forecasts for Oil and Gas in Brazil

According to ANP, investments in the production phase of current oil and gas contracts will total just over R$ 130 billion in 2024, with around R$ 37 billion allocated to platforms construction.

In addition, the agency estimates that 1,228 km of pipelines (including risers) will be laid, 393 producing wells will be drilled, and 11 platforms will be built this year.

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ANP Releases Activity and Production Forecast for Oil and Natural Gas in the Coming Years

The agency also projects that average production volumes of oil and natural gas will increase in the coming years.

Reaching 667 thousand cubic meters per day (m3/d) of oil (equivalent to 4.195 million barrels per day) and 209 million m³/d of natural gas in 2028, with 180 million m³/d after deducting CO2.

To ensure these results, field operators will need to conduct various activities, such as drilling and recompleting producing wells, 3D seismic acquisition, laying and removing pipelines and risers, and abandoning and dismantling wells.

The ANP states that the forecasts are based on the Annual Work and Budget Programs (PAT) and Annual Production Programs (PAP) of the current contracts, which may be updated at any time.

The production phase is the second phase of oil and natural gas exploration and production contracts, which begins after the declaration of commercial viability of the fields.

Recently, the ANP had already disclosed the forecast for activities and investments in the exploration phase, which is expected to total US$ 1.96 billion in 2024, with a focus on the offshore basins of the Equatorial Margin and the East Margin.

Source: PetroNotícias

ANP Forecasts Over R$ 500 Billion Investment in Oil and Gas by 2028

ANP Reveals Investment, Activity, and Production Forecasts for Oil and Natural Gas in Brazil Until 2028. The Santos and Campos Basins Are Set to Receive the Most Resources. The Production Phase of Current Contracts Is Expected to Generate Over R$ 500 Billion During This Period.

Santos and Campos Basins Lead Investment Forecasts for Oil and Gas in Brazil

ANP Releases Activity and Production Forecast for Oil and Natural Gas in the Coming Years

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ANP Forecasts Over R$ 500 Billion Investment in Oil and Gas by 2028

ANP Reveals Investment, Activity, and Production Forecasts for Oil and Natural Gas in Brazil Until 2028. The Santos and Campos Basins Are Set to Receive the Most Resources. The Production Phase of Current Contracts Is Expected to Generate Over R$ 500 Billion During This Period.

Santos and Campos Basins Lead Investment Forecasts for Oil and Gas in Brazil

ANP Releases Activity and Production Forecast for Oil and Natural Gas in the Coming Years

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