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Recently, the city of Pelotas, in Rio Grande do Sul, has gained prominence in the Brazilian energy scene, presenting the potential to double Brazil's oil reserves. This possibility arose after a series of studies indicated geological similarities between the Pelotas Basin and the coast of Namibia, in Africa, where oil reserve estimates reach 13 billion barrels. However, in the case of Pelotas, geologists predict reserves that could reach between 10 and 15 billion barrels, surpassing even African estimates.
Brazil currently has proven oil reserves of around 15,9 billion barrels. With the exploration of the Pelotas Basin, these reserves could potentially double, providing greater energy security for the country and reducing dependence on oil imports, a possibility that is gaining strength as the pre-salt layer approaches its peak production, estimated for 2030.
Pelotas Basin: a new exploration frontier that has the potential to double Brazil's oil reserves
Exploration of the Pelotas Basin officially began in December 2023, when the National Petroleum Agency (ANP) auctioned 29 blocks in the region. Petrobras, in partnership with industry giants such as Shell and China's CNOOC, formed two consortia to explore the region: one with Shell (with a 30% stake) and CNOOC (20%), with Petrobras holding the remaining 50%; and another consortium with only Shell (30%), in which Petrobras holds 70%.
In addition, Chevron alone acquired 15 blocks in the region, demonstrating great interest of companies due to the potential of Pelotas. The geological similarity between Pelotas and Namibia, resulting from the division of the supercontinent Gondwana, is one of the main factors that justify the optimism of oil companies in oil reserves.
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According to geologist Pedro Zalan, the formation of oil-generating rocks and reservoirs is very similar between the two regions, with the advantage that Pelotas has deeper and larger areas, which could mean greater reserves than those in Namibia.
Challenges and exploration schedule in Pelotas
Despite expectations, exploration in the Pelotas Basin still faces technical and regulatory challenges. According to Roberto Ardenghi, president of the Brazilian Petroleum Institute (IBP), exploration of new oil reserves in Brazil is essential to avoid future imports, since other production areas, such as the Equatorial Margin, still depend on environmental clearances and face local resistance.
For Ardenghi, the exploration of Pelotas could take up to 12 years to reach its effective production phase, including the time needed to collect seismic data and exploratory drilling to prove the economic viability of the wells.
The first seismic surveys, which are essential for mapping the subsoil and identifying drilling points, should begin in the next three to four years. After that, it will be necessary to drill exploratory wells to prove the presence of oil and its viability. If the process progresses as planned, effective production could begin early in the next decade.
Impacts for Southern Brazil
Unlike the exploration areas in the North of the country, such as Foz do Amazonas, where there is intense environmental and community mobilization regarding oil reserves, the South region is still waiting for the start of activities in the oil sector. Cities such as Pelotas, Porto Alegre, Rio Grande and Chuí should become support hubs for the operation, with the development of infrastructure and job opportunities.
In addition to oil exploration, Petrobras is already planning offshore wind energy projects in the Pelotas Basin, which could further boost the region's energy and economic development. With this expansion, Petrobras is expected to expand its exploration area from 30 to 50 square kilometers, reinforcing Pelotas' role in the Brazilian energy scenario.
Significant opportunity for Brazil
The Pelotas Basin, with its unique geological features, offers a significant opportunity for Brazil to expand its oil reserves, potentially doubling Brazil’s oil reserves. If estimates of up to 15 billion barrels are confirmed, the country will have the chance to strengthen its energy security and reduce dependence on imports.
Although the exploration process is still long, the prospects for Pelotas and Brazil are promising, with an economic and energy impact that could shape the future of the South region and consolidate the country as one of the largest oil producers.
It is not the city of Pelotas that has gained prominence, but rather the region, as the city that will benefit the most and have the most relevance in terms of support is Rio Grande, where the largest port in the state and the largest industrial complex are located.
The Pelotas deposit will soon free Brazil from the “mongrel complex”. Fortunately, it coincided with the end of the era of the perverse dictator, Alexandre “Imorais”. Thank God!
I would really like to know what the API degree of the pellet basin is