Brazil Will Have Billion-Dollar Investment in Offshore and Onshore Oil Exploration Activities This Year 2021

Written by Flavia Marinho

Published on 12/01/2021 at 13:24

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Estimates of Billion-Dollar Investment for Exploration and Production Activities of Oil Made by ANP for 2021 Are Based on Information Declared by Operators to the Agency

Brazil will have a billion-dollar investment of R$ 5.4 billion throughout 2021 to invest in drilling new blocks, offshore and onshore exploration; and hiring seismic surveys, said the National Agency of Petroleum (ANP) on Tuesday (01/12). Looking for a job? Multinational Subsea 7 is hiring for offshore positions in Rio de Janeiro for high school and college professionals

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In the Brazilian offshore, the drilling of 18 new wells is planned, which will have a billion-dollar investment of R$ 5.1 billion, and according to the ANP, the 2D seismic surveys will total 450 km, while the 3D seismic will cover an area of 2,457 km², with an investment of R$ 44 million.

Offshore oil exploration in Brazil will account for 95% of the total estimated investment by the Agency for 2021.

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In onshore fields, the ANP projects investments of R$ 163.3 million to drill 20 wells and R$ 120 million for 450 km of 2D seismic.

The estimates made by the National Agency of Petroleum for this year are based on information declared by operators to the agency in the Exploration and Production Contract.

About the Annual Exploration Forecast of the National Agency of Petroleum

The forecast is updated every year, based on the work plans and budgets presented by the operators to the ANP.

The numbers are important indicators especially for service companies that are planning for this year of 2021 that has just begun.

“Due to the uncertainties inherent to the variables considered, as well as the possibility of updates and revisions of these estimates by the operators, there is no guarantee of the realization of the estimates throughout the simulated period”, warns the ANP.

You can check all the investment estimates in oil exploration and production systems directly on the Agency’s website

Brazil Will Have Billion-Dollar Investment in Offshore and Onshore Oil Exploration Activities This Year 2021

Estimates of Billion-Dollar Investment for Exploration and Production Activities of Oil Made by ANP for 2021 Are Based on Information Declared by Operators to the Agency

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About the Annual Exploration Forecast of the National Agency of Petroleum

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