Brazil could become a global oil powerhouse with reserves jumping from 17 billion to 23.5 billion barrels, investments of US$ 30 billion per year, and exploration in the Equatorial Margin that could extend Brazilian production until 2042.

Written by Alisson Ficher

Published on 17/05/2026 at 20:10

Be the first to react!

Expansion of Brazilian oil reserves puts Equatorial Margin and Pelotas Basin at the center of sector investments, while the industry projects increased production, job recovery, and new billion-dollar investments to keep the country among the largest global oil producers in the coming decades.

Projections from the oil and gas industry indicate that Brazil could expand its proven oil reserves to 23.5 billion barrels in the next decade, provided it advances in new exploratory fronts, increases the recovery of mature fields, and maintains annual investments exceeding US$ 30.6 billion.

Presented in Rio de Janeiro, the Abespetro 2026 Report places the Equatorial Margin and the Pelotas Basin among the main pillars to sustain national production for a longer time, at a moment when the sector seeks to increase competitiveness and attract new private operators.

According to the latest data from ANP, Brazil declared 17.488 billion barrels in proven reserves in 2025, a volume considered sufficient to maintain the current production pace only for the coming years, should there be no significant new incorporations.

ARTICLE CONTINUES BELOW

Equatorial Margin gains strength in Brazilian oil strategy

In Abespetro’s assessment, the country needs to accelerate exploration in areas still little tested to transform geological potential into commercially viable reserves, especially in regions considered strategic to ensure the continuity of production in the coming decades.

Among the main bets is the Equatorial Margin, a maritime strip located between Amapá and Rio Grande do Norte, while the Pelotas Basin, off the coast of Rio Grande do Sul, has also gained space in the oil sector’s projections.

Despite the identified potential, the advancement of these areas remains conditioned on environmental licensing, regulatory stability, increased investment capacity, and the maintenance of auctions for new exploratory areas.

However, progress depends on licensing, regulatory security, investment capacity, and continuity of auctions for new areas.

Data presented by the entity show that Brazil did not conduct drilling in new frontier areas between 2018 and 2024, a movement that contrasts with the progress observed in other global offshore exploration hubs during the same period.

While Norway drilled 32 wells in new frontiers, Guyana and Suriname accumulated 62 drillings, while regions in southern and western Africa accounted for another 28 exploratory initiatives aimed at discovering new reserves.

According to Telmo Ghiorzi, executive president of Abespetro, exploratory activity needs to advance until the reserves reach commercial viability, as the absence of new discoveries could compromise Brazil’s productive capacity over the coming years.

The entity maintains that, without new discoveries and without improvement in the recovery of current reservoirs, the country may lose productive capacity over the coming years.

Reserves can guarantee production until 2042

Considering the currently declared reserves and an estimated production of 5 million barrels per day, Abespetro calculates that Brazil would have the capacity to sustain oil activity until approximately 2035, if the scenario remains without major additional discoveries.

On the other hand, the conversion of estimated reserves into effectively proven reserves could extend this horizon until 2042, prolonging the national production cycle and strengthening Brazil’s position among the main global oil producers.

The ANP reported that proven reserves grew by 3.84% in 2025 compared to 2024.

The agency also recorded 24.265 billion barrels in proven and probable reserves, in addition to 28.877 billion barrels when possible reserves are included.

Besides opening new areas, Ghiorzi advocates for greater recovery of fields already in operation.

This strategy includes projects in mature reservoirs, where independent companies could increase production if there were more room for private operation.

Petrobras concentrates offshore operation in Brazil

Abespetro also points to the concentration of offshore operations as one of the obstacles to increasing investments.

According to Ghiorzi, Petrobras holds 90.7% participation in offshore field operations in Brazil, a rate higher than observed in other producing regions.

“We need more private companies in Brazil,” said the executive, comparing Petrobras’s presence with the operations of major oil companies in markets such as South America, the North Sea, West Africa, and the Gulf of Mexico.

The entity also demands regulatory changes.

Among the points mentioned are the taxation on oil exports and adjustments in local content rules, considered important to reduce the punitive nature applied to companies that do not meet contractually stipulated goals.

Jobs and investments are growing again in the oil and gas sector

According to estimates by Abespetro, the exploration and production sector ended 2025 with approximately 700 thousand direct and indirect jobs, returning to a level not seen since the beginning of the last decade.

In the entity’s assessment, the market regained strength after a long period of contraction caused by the international drop in oil prices and the impacts of Operation Car Wash on the national supply chain and investments.

For Ghiorzi, the recovery of employment shows a recent warming of the industry, but it depends on the maintenance of auction cycles and a more predictable business environment.

The entity states that the oil and gas sector accounts for about 11% of the Brazilian GDP.

The international price of oil has also come onto the companies’ radar.

Brent once again surpassed $100 per barrel in May 2026, amid tensions involving Iran and the partial closure of the Strait of Hormuz.

Even so, Ghiorzi stated that investment decisions are not made based on daily fluctuations.

“No one makes a decision today based on today’s or tomorrow’s price, since oil has a volatile price,” he said.

The executive recalled that the industry has become more cautious after the sharp drop in prices in the past decade.

During that period, the barrel went from levels above $100 to below $30, putting pressure on projects and investments.

Brazil could become a global oil powerhouse with reserves jumping from 17 billion to 23.5 billion barrels, investments of US$ 30 billion per year, and exploration in the Equatorial Margin that could extend Brazilian production until 2042.

Expansion of Brazilian oil reserves puts Equatorial Margin and Pelotas Basin at the center of sector investments, while the industry projects increased production, job recovery, and new billion-dollar investments to keep the country among the largest global oil producers in the coming decades.

Equatorial Margin gains strength in Brazilian oil strategy

Reserves can guarantee production until 2042

Petrobras concentrates offshore operation in Brazil

Jobs and investments are growing again in the oil and gas sector

While an average building in London or New York takes three years to be completed, in China a 26-story tower went up in five days with about 100 workers, and the global modular construction market already moves US$ 95 billion per year.

A Chinese factory in Guangdong is assembling a humanoid robot every 30 minutes while Tesla, Figure, and Boston Dynamics still struggle to deliver 10 thousand per year.

Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

Secret chamber sealed 4,500 years ago found in the Pyramid of Khufu, and Hawass announces its opening to the world in 2026

A public school student single-handedly created a machine capable of treating water for up to 50 people using only solar energy. It was awarded third place at one of the most important science fairs in the world.

Germany installed vertical solar panels on a lake in Bavaria, and the result broke conventional logic: instead of producing energy at midday peak, the plant generates more early in the morning and in the evening, exactly when families turn on appliances and factories are in full swing.

While communities suffer from water scarcity and the advancing desert, women in Morocco use nets high up in the mountains to trap fog droplets, fill reservoirs, and transport drinking water through more than 10 km of piping.

Mega dam of 2.1 km will store 2.9 billion m³ of water and benefit 70 million people, while the government tries to reduce the impacts of water scarcity caused by disputes over the Padma River after decades of tension in Bangladesh.

In addition to cars, BYD is already testing 10 heavy 6×2 electric trucks in Brazil with a recharge time of just 10 minutes, a range of 220 km, and a new battery inspired by the brand’s automobiles to revolutionize freight transport.

Ypê puts R$ 130 million on the table after Anvisa identifies 88 sanitary failures, 142 batches with unsatisfactory analyses, and microbiological risk in a factory in SP; the company promises a “pharmaceutical level” laboratory and a task force to avoid another shutdown.

Man transforms automotive engine into a functional nautical system, adapts cooling with external water, installs shaft, propeller, and anti-corrosion protection, and creates a low-cost handcrafted yacht capable of safely navigating using repurposed parts and a structure reinforced with fiberglass.

Giant aquatic plants cover the Dourados River in Lins, blocking boats, destroying piers, and worrying residents while more than 400 inspections and R$ 13.8 million in fines expose the advancement of eutrophication in São Paulo’s rivers.

Brazil could become a global oil powerhouse with reserves jumping from 17 billion to 23.5 billion barrels, investments of US$ 30 billion per year, and exploration in the Equatorial Margin that could extend Brazilian production until 2042.

Expansion of Brazilian oil reserves puts Equatorial Margin and Pelotas Basin at the center of sector investments, while the industry projects increased production, job recovery, and new billion-dollar investments to keep the country among the largest global oil producers in the coming decades.

Equatorial Margin gains strength in Brazilian oil strategy

Reserves can guarantee production until 2042

Petrobras concentrates offshore operation in Brazil

Jobs and investments are growing again in the oil and gas sector

While an average building in London or New York takes three years to be completed, in China a 26-story tower went up in five days with about 100 workers, and the global modular construction market already moves US$ 95 billion per year.

A Chinese factory in Guangdong is assembling a humanoid robot every 30 minutes while Tesla, Figure, and Boston Dynamics still struggle to deliver 10 thousand per year.

Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

Secret chamber sealed 4,500 years ago found in the Pyramid of Khufu, and Hawass announces its opening to the world in 2026

A public school student single-handedly created a machine capable of treating water for up to 50 people using only solar energy. It was awarded third place at one of the most important science fairs in the world.

Germany installed vertical solar panels on a lake in Bavaria, and the result broke conventional logic: instead of producing energy at midday peak, the plant generates more early in the morning and in the evening, exactly when families turn on appliances and factories are in full swing.

While communities suffer from water scarcity and the advancing desert, women in Morocco use nets high up in the mountains to trap fog droplets, fill reservoirs, and transport drinking water through more than 10 km of piping.

While Brazil discussed the transition, Petrobras unlocked 11 new platforms in the pre-salt until 2027 — Búzios alone receives 6 FPSOs and targets 1 million barrels/day.

Oil, jobs, and industry: ABESPETRO executive explains why Brazil has not yet reached the development of wealthy countries

MIT startup tests in Houston a millimeter wave maser drill that promises to bore 20 km of rock, three times deeper than Kola

Lula celebrates the revival of the fertilizer industry in Bahia, reinforces the defense of Petrobras, and criticizes privatizations that increased Brazil’s external dependency.

U.S. pre-market falls with fears of global inflation and expectation of increased Chinese oil purchases

Mega dam of 2.1 km will store 2.9 billion m³ of water and benefit 70 million people, while the government tries to reduce the impacts of water scarcity caused by disputes over the Padma River after decades of tension in Bangladesh.

In addition to cars, BYD is already testing 10 heavy 6×2 electric trucks in Brazil with a recharge time of just 10 minutes, a range of 220 km, and a new battery inspired by the brand’s automobiles to revolutionize freight transport.

Ypê puts R$ 130 million on the table after Anvisa identifies 88 sanitary failures, 142 batches with unsatisfactory analyses, and microbiological risk in a factory in SP; the company promises a “pharmaceutical level” laboratory and a task force to avoid another shutdown.

Man transforms automotive engine into a functional nautical system, adapts cooling with external water, installs shaft, propeller, and anti-corrosion protection, and creates a low-cost handcrafted yacht capable of safely navigating using repurposed parts and a structure reinforced with fiberglass.

Giant aquatic plants cover the Dourados River in Lins, blocking boats, destroying piers, and worrying residents while more than 400 inspections and R$ 13.8 million in fines expose the advancement of eutrophication in São Paulo’s rivers.