Since 2017, Oil Companies Have Paid R$ 42 Billion for Exploration Areas in Brazil’s Pre-Salt Layer
Despite the pre-salt region being one of the most sought after by multinational oil companies, the initial drilling efforts have yielded disappointing results. According to a report by the international consulting firm Wood Mackenzie, only Petrobras and Shell have found indications of oil and gas so far, but in wells that are not economically viable, a piece of information that both companies do not confirm. Omatic Engenharia with job openings for engineers and designers
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However, the results do not discourage the companies. The expectation is that they will accelerate investments in exploration starting this year. Petrobras is expected to maintain its leading role in exploration, but competition is likely to increase in the coming years as major international oil companies have made dozens of acquisitions in auctions held by the National Oil Agency.
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The state-owned company plans to conduct eight drills in the pre-salt in 2020. Last year, it did so in only four areas. Shell and Equinor, which began operating in the pre-salt two years ago, are also preparing new drills.
The priority of the two multinationals remains the North of Carcará and the South of Gato do Mato, extensions of already known discoveries, acquired in the 2nd Sharing Round in 2017. The companies will also venture into unexplored areas. The Anglo-Dutch company, for example, has plans to drill in the Saturn field, acquired in 2018 during the 5th Sharing Round.
The British BP is expected to start its first exploratory campaign in the pre-salt in Pau Brasil, in the Santos Basin, between 2021 and 2022. The American Exxon Mobil, the main player in the auctions alongside Petrobras, stated last year that it would conduct at least five drills in Brazil between 2019 and 2020, including its minority stakes in Uirapuru and North of Carcará.
Uirapuru is currently the main focus of market attention, according to Marcelo de Assis, head of research in the oil exploration and production area at Wood Mackenzie in Latin America. “The results of the next wells will somewhat dictate companies’ interest in the upcoming auctions,” Assis notes. The consultancy estimates investments of up to US$ 30 billion (around R$ 125 billion) in exploration in Brazil this year.
Source: Valor

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