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Foreign companies are prepared to invest billions in Brazil, seeking to explore oil and gas by 2027. With more than R$17 billion expected between 2024 and 2025, the expectation is that the country will become a major producer in the global market. However, the ANP warns of challenges faced in drilling wells.
Imagine an avalanche of billion-dollar investments ready to explore the Brazilian subsoil in search of hidden riches.
This is the scenario that Brazil is likely to experience in the coming years, with giants in the foreign oil sector betting heavily on the discovery of new oil and natural gas fields.
But will all this money really transform the country into an energy powerhouse or are there hidden risks behind these impressive figures?
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Billion-dollar investments expected by 2027
According to estimates published by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) this Monday (02), foreign oil companies should inject around R$ 18,31 billion into Brazil by 2027 in search of oil and natural gas.
The largest volume of this amount, approximately R$17 billion, should be concentrated between this year and next, revealing the massive investment of these companies in the potential of the Brazilian subsoil.
Distribution of resources by phases and activities
The resources will be applied mainly in the exploration phase, a crucial stage that defines whether the areas under contract have oil or gas in sufficient quantity to justify production.
According to ANP, drilling wells will absorb 88% of the total investment, standing out as the main activity in this phase. The remaining 12% will be allocated to well testing (8%) and exclusive (3%) and non-exclusive (1%) geophysical surveys.
Investment breakdown by year
In 2024, R$9,97 billion in investments are expected, followed by R$7,64 billion in 2025. The difference of R$701 million should be applied between 2026 and 2027.
In addition, offshore operations will receive the largest share of the resources earmarked for 2024, with R$9,5 billion allocated, of which R$8,5 billion will be invested exclusively in drilling offshore wells. For onshore activities, the forecast is R$470 million by December 2024.
Exploration results in 2023 and future projections
In 2023, Brazil ended the year with 251 blocks under contract, 238 under the concession regime and 13 under the production sharing regime.
Despite the large number of blocks, the drilling of exploratory wells was considered unsatisfactory, with only 22 wells drilled, one less than in 2022.
The ANP highlighted in a note that since 2016, the trend has been one well drilled for every ten blocks under contract, a performance that needs to be surpassed to guarantee the success of exploration operations.
Challenges and expectations for the future of oil
Although the figures are impressive, the ANP warns of the challenges faced by the sector in recent years, including poor performance in the drilling of exploratory wells.
The expectation is that with the billion-dollar investment from foreign oil companies, this scenario can be reversed, allowing Brazil to make the most of the potential of its oil and natural gas reserves.
In any case, with so much money at stake, the question remains: Will these foreign investments really put Brazil at the top of the world ranking of oil and gas producers, or are we just at the beginning of a new gold rush that may end in nothing? Only time will tell, but one thing is certain: Brazil is at the center of attention in the global energy market.
To believe in this government's ANP? It's to believe in Nicolas Maduro.
Brazil is already a powerhouse in corruption! It will only feed one more group...corruption that is already extreme!
So by your logic it is good that the country does not grow and that no discoveries are made unless it is by the hands of the government that you consider to be “honest”.
Kkkkkkkkkkk That's right... The country has to be left without investments. It can only be "A **** HEAD". And the worst part is that he forgot that the **** OF ****, CRAPULAS AND RATS. Have already left the government. And they will all be arrested. Including the JEWEL THIEF... LOL the head of **** is UNREAL...
Envy is a s..t.
Accept it and it hurts less.
I'm trying to understand the title of the article... it's an indirect message to oil workers... we're not afraid of that...
I don't see any correlation with the text….
The oil exploration monopoly ended a long time ago…
Let the guys come…..
Fake, misinformative and RUDE channel.
It seems like there's **** in the comments. They always disagree with the country's growth. There are no motorcycles in this government. They wanted to stay in power. But there was only sh…t!