PPSA Predicts Exponential Increase in Oil Sales with Expansion of Production in Brazilian Wells

Written by Ruth Rodrigues

Published on 10/05/2022 at 11:01

Foto: Pixabay

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The Plans for New Well Drilling in Brazil and the Expansion of Oil Production Will Contribute to the Exponential Increase in Sales of the Resource Foreseen by PPSA Over the Coming Years in Brazil

After discussing the current moment of oil supply and demand in the global market, Pré-Sal Petróleo (PPSA) revealed last Thursday, (05/05), that sales of Brazilian oil will increase exponentially in the coming years. This will happen due to new drilling in national wells and the growth in production of the resource, which, together, will drive demand in the international market over the coming years.

Volumes of Oil Owned by the Federal Government Are Growing and PPSA Foresees a Significant Increase in Sales of the Resource Over the Coming Years

As major oil companies deliver more of their production to the Union under sharing agreements, sales of this resource are expected to increase exponentially in the coming years. This is PPSA’s new bet for growth in demand for the fuel and, consequently, for the derivatives produced from the raw material, attracting new attention to this market in Brazil and worldwide.

Thus, according to the company’s projections for the future of the oil and gas segment over the next 10 years, direct sales of oil from the Brazilian government should more than double in 2022 and will increase significantly this decade. This is due to the increase in production of the resource in government wells, which will rise to 1.127 million barrels per day (bpd) by 2031, according to forecasts from Gerk, the state-owned enterprise that oversees the share contracts for the exploration of this fuel on national territory.

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The Entry of New Wells into Operation for Oil Production in the Coming Years Will Collaborate for the Increase of Direct Sales of This Resource in Brazil

Sales of oil held by the Government are already reaching high levels in recent years and PPSA has sold all 9.5 million barrels it expects to receive from commitments this year, in 19 shipments delivered to Petrobras. But this is just the beginning for market growth over the coming years, as the opening of new wells for fuel production will allow for new business perspectives within the oil and gas industry.

Thus, as new wells come into operation, annual volumes are expected to jump to 411 million barrels of oil by 2031, according to projections from the company Gerk. Additionally, with PPSA’s preparations for conducting auctions aimed at the sales of oil and natural gas in pre-salt fields, new business may be established with the Brazilian government over the coming years.

Finally, the company also highlighted that other projects that will contribute to this scenario are the future production wells from the Sépia, Atapu, Itapu, and Bacalhau fields, which have not yet been commercialized and will be included in sales packages over the coming years.

PPSA Predicts Exponential Increase in Oil Sales with Expansion of Production in Brazilian Wells

The Plans for New Well Drilling in Brazil and the Expansion of Oil Production Will Contribute to the Exponential Increase in Sales of the Resource Foreseen by PPSA Over the Coming Years in Brazil

Volumes of Oil Owned by the Federal Government Are Growing and PPSA Foresees a Significant Increase in Sales of the Resource Over the Coming Years

The Entry of New Wells into Operation for Oil Production in the Coming Years Will Collaborate for the Increase of Direct Sales of This Resource in Brazil

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PPSA Predicts Exponential Increase in Oil Sales with Expansion of Production in Brazilian Wells

The Plans for New Well Drilling in Brazil and the Expansion of Oil Production Will Contribute to the Exponential Increase in Sales of the Resource Foreseen by PPSA Over the Coming Years in Brazil

Volumes of Oil Owned by the Federal Government Are Growing and PPSA Foresees a Significant Increase in Sales of the Resource Over the Coming Years

The Entry of New Wells into Operation for Oil Production in the Coming Years Will Collaborate for the Increase of Direct Sales of This Resource in Brazil

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