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Investments in Production Development Are Expected to Reach US$ 93 Billion, According to Estimates from Pré-Sal Petróleo (PPSA).
Understanding the importance of environmental law is essential to ensure the preservation and sustainable use of natural resources. Environmental law seeks to regulate the relationships between humans and the environment, establishing norms and guidelines for the protection of nature and the promotion of sustainable development.
Estimates indicate that investments in production sharing will reach US$ 93 billion between 2023 and 2033. This amount represents a significant sum allocated to projects in the sector over a 10-year period, highlighting the relevance and growth potential of this segment of the economy.
An important fact is that, according to EPE, the price of gas needs to be halved to enable the production of fertilizers. This underscores the need for adjustments and investments to make this sector more competitive and sustainable, with significant impacts on the industry and the economy as a whole.
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Oil surpasses US$ 103 amid tensions in the Middle East and uncertainty between the US and Iran.
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U.S. oil stocks rise by 1.9 million barrels, contradicting analysts’ expectations of a sharp decline this week.
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United Kingdom and France lead strategic plan to ensure the reopening of the Strait of Hormuz and stabilize the oil market.
Javier Milei Expresses Interest in Partnership to Build Gas Pipeline from Vaca Muerta with Brazil
Economist Javier Milei expresses willingness to establish a partnership with Brazil for the construction of a gas pipeline linked to the Vaca Muerta region in Argentina, aiming to expand and strengthen the energy sector of South America.
The upcoming Transmission Auction is expected to involve significant investment, with an estimated R$ 18.2 billion allocated for the enhancement and expansion of the electricity transmission system in Brazil, aiming to ensure greater efficiency and reliability in electricity supply for the country.
The development of 22 of the 23 production sharing contracts and three agreements for the individualization of production with the participation of the Union currently contracted may require the hiring of 18 production platforms (FPSOs) of up to 225,000 barrels/day capacity by 2033, estimates pré-sal Petróleo (PPSA).
It is estimated that investments in production development will reach the amount of US$ 93 billion during the period between 2023 and 2033. This amount includes the construction of 302 production and injection wells, as well as the implementation of new production units.
Projections have been recently updated and will be presented in detail during the 6th Technical Forum of PPSA, which is taking place today (11/21) and is being broadcast on the agency’s epbr channel. Follow all the discussions and highlights from the event.
It is estimated that the total production from the sharing arrangement will peak at 2.3 million barrels of oil per day by 2029, while the Union‘s share of the oil could reach 920,000 barrels per day by 2031.
Over ten years, the accumulated production could reach 6.5 billion barrels, with 1.3 billion barrels allocated to the Union by 2033.
Considering current projections for oil prices, it is estimated that the revenue from the commercial sale, by PPSA, could reach R$ 462 billion during the period, along with R$ 373 billion in royalties and R$ 315 billion in federal taxes.
Distribution Sector Companies Seek Changes to the Renovabio Program
Fuel distributing companies are seeking modifications to the Renovabio program in order to adapt it to the carbon market of other sectors. The proposed change aims to transfer the responsibility for purchasing CBIOs to refineries and alter the nature of the credits in question.
– The proposal was presented to the Ministry of Development, Industry, Commerce, and Services (MDIC) by a group called Movimento + Bio, composed of Vibra, Ipiranga, and Brasilcom, a federation representing more than 40 regionally active companies.
– The justification for the local gas law sanctioned by the government of Alagoas is that the previously implemented program failed to achieve the goal of increasing biofuels production, which has been stagnant for a decade, and the new legislation imposes emission responsibility on the producer.
Alagoas Becomes a Reference in the Natural Gas Sector. The state, which recently approved the local gas law, is emerging as a leader in the Ranking of the Free Gas Market (Relivre) – which evaluates the opening of the gas market in each state from the perspective of producers, distributors, and consumers.
According to a study conducted by the Energy Research Company (EPE), São Paulo, the largest consumer of gas for fertilizers, is among the three states with the worst evaluations regarding product prices. The survey analyzed 20 states and showed that São Paulo is poorly positioned in the ranking.
The study also revealed that the price range for gas used in fertilizer production is 50% to 80% lower than the price charged from industrial consumers in Brazil, which is US$ 19 per million BTU. Additionally, the price is 25% to 75% lower than the price charged by Petrobras to distributors, which is US$ 12 per million BTU.
Quickly approaching the referendum, Venezuela seeks public support to annex part of Guyana, which has increased tensions between the countries and involved other actors such as Brazil, Colombia, the United States, and the International Criminal Court in The Hague.
Challenges of the Gas Pipeline from Vaca Muerta
The project for the Gas Pipeline from Vaca Muerta faces uncertainties, despite the desire to maintain the initiative. The complexity and existing difficulties represent significant challenges for the realization of the project.
Oil prices have remained virtually stable after an increase of over 6% in recent sessions, with the market awaiting the Opec+ meeting this weekend. The WTI barrel closed down slightly by 0.08%, at US$ 77.77, while Brent rose 0.16%, at US$ 82.45.
In addition, a new executive director assumed the position today at the Brazilian Institute of Oil and Gas. The executive has experience at Petrobras, ANP, and the government of Rio de Janeiro, and is also a professor and consultant in the oil and gas sector.
The process for the first Transmission Auction of energy for 2024 had the draft of the public notice approved, with a projected amount of R$ 18.2 billion in investments. This auction primarily focuses on expanding the capacity for renewable energy transmission in the Northeast region of Brazil.
The bidding, scheduled for March 28, 2024, will include 15 lots of transmission lines totaling 6,460 km, as well as the construction of new substations with a transformation capacity of 9,200 MW distributed across 14 states.
The consortium Gênesis is implementing new stricter rules for companies wishing to participate, requiring proof of experience, submission of audited financial statements, and the possibility of renegotiation with other participants in case of disqualification of the winner.
Expansion of the port for offshore wind energy plans to provide logistical support for the wind farms that will be built off the coast of Rio Grande do Norte. This expansion aims to meet the demands of the growing offshore wind sector.
Expansion of Area and Investments in High-Capacity Cranes
The proposal aims to expand the current area of 38,000 m2 to better accommodate the necessary operations for the assembly of future wind farms. In addition, it is planned to acquire cranes with a capacity of 500 to 700 tons to facilitate the movement of materials.
The project cost is estimated at R$ 500 million and is in negotiation between Intersal and the American group Edison Chouest Offshore.
Source: EPBR Agency
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