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The Pre-Salt Revolution of Petrobras Surpasses Oil Production of Mexico, Norway, and Nigeria
A silent revolution is happening in the depths of the ocean driven by Petrobras, the Brazilian state-owned company that has become one of the largest energy firms in the world, has taken center stage and become a remarkable example of innovation and efficiency in oil production with its expertise in the pre-salt.
Brazil is becoming a giant in oil production, surpassing iconic oil and gas industry nations, notably with the pre-salt, which currently accounts for more than a third of Latin America’s production and is redefining the global oil production landscape.
Rise of the Pre-Salt: An Unknown Giant
Fifteen years ago, the pre-salt began operations in Brazil, and since then, it has been an unparalleled success story. Today, it accounts for an impressive 78% of Petrobras’ total production, with 2.06 million barrels of oil equivalent per day (boed) during the second quarter of 2023. This remarkable growth has not only consolidated the Brazilian state company’s position as a leader in Latin America but also placed the pre-salt ahead of industry giants like Mexico, Nigeria, and Norway.
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Offshore industrial demand in Macaé skyrockets with the recovery of oil and gas and could grow by up to 396% by 2026 in the Campos Basin.
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Offshore industrial demand in Macaé surges with the recovery of oil and gas and could grow by up to 396% by 2026 in the Campos Basin.
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Brazilian giant expands borders in the Southeast: Petrobras confirms new oil discovery in ultra-deep waters in the pre-salt of the Campos Basin.
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Alert in the global energy market: Severe tropical cyclone hits the coast and disrupts gas production at major plants in Australia, threatening global supply.
The pre-salt, which would be the 11th largest oil producer if it were a country, is a remarkable achievement for Brazil. However, this journey has not been without challenges. When exploration in the pre-salt began, many skeptics doubted its technical viability. But Brazilian oil workers not only accepted the challenge but also developed cutting-edge technologies that previously did not exist in the market.
State-Owned Company Uses Innovative Technologies That Enable Production of One of the Most Decarbonized Oils in the World
The secret behind these impressive results is the development of state-of-the-art technologies. Wells drilled more than 7,000 meters deep, cutting through thick layers of salt and facing extreme temperature, pressure, and distance of 300 km from the coast, are examples of challenges overcome. This technical expertise has allowed Brazil to stand out as a leader in deep water exploration.
“They dared, developed technology that did not exist in the market, alongside our partners and suppliers, and transformed a previously unknown frontier into this giant of deep-water production. It is an unprecedented success story in the sector, with a positive impact not only for Petrobras but for the global industry and society in various ways, providing a valuable legacy of scientific, technological, and intellectual knowledge,” said Petrobras President, Jean Paul Prates.
The pre-salt is a highly competitive oil frontier in the global industry. With 31 of the 57 platforms operated by Petrobras dedicated to the pre-salt, these innovative technologies have allowed the production of one of the most decarbonized oils in the world. In just 15 years, this layer has become an essential part of Petrobras’ portfolio, contributing to large-scale carbon emission reductions.
From First Oil to the Conquest of Billions
The pre-salt is not only a technical triumph but also a significant source of revenue for Brazilian society. Between 2008 and June 2023, Petrobras paid approximately US$ 63 billion in government take, including royalties and special participations, directly related to pre-salt production. Additionally, another US$ 63 billion was paid to the Brazilian state for the acquisition of blocks and rights in pre-salt assets. These impressive figures, totaling US$ 126 billion, highlight the substantial return that the pre-salt has provided to civil society.
The story of the pre-salt is marked by remarkable achievements and significant milestones. The first oil from the pre-salt was produced on September 2, 2008, at the Jubarte field in the Campos Basin. Since then, the operated production, in conjunction with partners, reached one billion barrels in eight years. In 2019, after 11 years, it surpassed 2.5 billion barrels and, in 2021, broke the 4 billion barrel mark. This extraordinary trajectory culminated in the production of 5.5 billion barrels in July 2023.
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