The Ministry of Mines and Energy published the final reports of the REATE Committee, created to boost onshore oil and gas E&P

The Ministry of Mines and Energy (MME) published the final reports of the Program Committee for the Revitalization of Oil and Natural Gas Exploration and Production Activities in Onshore Areas, REATE 2020.

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Due to the large offshore discoveries of oil and gas, the onshore areas remained in the “background”. But in recent years, Brazil has struggled to attract private sector players to the segment, especially small and medium-sized companies.

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

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

“Companies are unanimous in defending that Brazil needs to improve its competitiveness. Our main competitors are projects in other countries”, recently told BNamericas Anabal Santos Junior, executive secretary of the Association of Independent Producers (Abpip), who was part of the Reate 2020 Committee.

MEASURES TO STIMULATE THE SECTOR

Environmental Licensing
RD&I, Regulation and Public Policies
Work Plan: Onshore Oil and Gas Potential
Technological Solutions for Monetization of Natural Gas on Land
Communication Plan: Unconventional Resources
Underground 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 has the goal of increasing onshore production from around 235.000 boe/d to 500.000 boe/d by 2030. See the full reports published by the MME here.