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Ministry Of Mines And Energy Presents Guidelines To Boost Oil And Gas Exploration And Production Activities Onshore

Written by Kelly
Published on 14/07/2020 at 10:37
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The Ministry of Mines and Energy Published the Final Reports of the REATE Committee, Created to Boost Onshore Oil and Gas Exploration and Production

The Ministry of Mines and Energy (MME) published the final reports of the Revitalization Program Committee for Oil and Natural Gas Exploration and Production Activities in Onshore Areas, REATE 2020. The goal of this Committee is to propose stimulus measures for oil and natural gas exploration and production activities in onshore areas and their value and productive chains.

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Due to significant offshore oil and gas discoveries, onshore areas have remained a “second priority.” However, in recent years, Brazil has been striving to attract private sector participants to the segment, especially small and medium-sized enterprises.

These interests were bolstered after Petrobras decided to exit the segment and include its onshore fields in its asset sale program of US$ 20 to 30 billion.

Following the drop in oil prices and the pandemic of the new coronavirus, which made many projects unfeasible, the sector will need even more support.

“Companies unanimously agree that Brazil needs to improve its competitiveness. Our main competitors are projects in other countries,” recently said Anabal Santos Junior, Executive Secretary of the Independent Producers Association (Abpip), which was part of the REATE 2020 Committee, to BNamericas.

MEASURES TO STIMULATE THE SECTOR

Environmental Licensing
R&D, Regulation, and Public Policies
Work Plan: Onshore Oil and Gas Potential
Technological Solutions for Natural Gas Monetization on Land
Communication Plan: Unconventional Resources
Subterranean Natural Gas Storage
Bibliographic Summary of Onshore Basins
Promotion of Free Competition

Created in 2019 to support onshore oil and gas E&P activities, the REATE 2020 program aims to increase onshore production from about 235,000 boe/d to 500,000 boe/d by 2030. See the full reports published by the MME here.

Kelly

Engenheira de Petróleo especialista em Eficiência Energética e pós-graduada em Engenharia Civil; Possui experiência em atividades na indústria petrolífera onshore. Entre em contato para sugestões de pauta, postar vagas de emprego ou proposta de publicidade em nosso portal.

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