Upload
dangcong
View
216
Download
0
Embed Size (px)
Citation preview
Opportunities for Investments in the Brazilian Oil & Gas Industry
& New Bidding Rounds
Magda Chambriard
Director general
February 26, 2013
Summary
Resumption of ANP Bidding Rounds 1
12th Bidding Round – Concession Contract 4
1st Pre-salt Round – Production Sharing Contract 5
Final Comments 6
11th Bidding Round – Concession Contract 3
Current Scenario & Investments Perspectives 2
Summary
Resumption of ANP Bidding Rounds 1
12th Bidding Round – Concession Contract 4
1st Pre-salt Round – Production Sharing Contract 5
Final Comments 6
11th Bidding Round – Concession Contract 3
Current Scenario & Investments Perspectives 2
Royalties Discussion
The resuming of ANP bidding rounds
Pre-salt discoveries: new paradigm
Pre-salt – new regulatory framework: Higher potential
Petrobras Capitalization
Creation of Inter-ministerial Group
Blocks in the Pre-salt cluster
ANP has invested in G&G surveys to increase knowledge of the Brazilian sedimentary basins.
MP 592/12 & Law 12734/12
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
“One country, three systems…”
7.5 million km2
~ 2% of sedimentary areas: Production Sharing Regime 1st Pre-salt Bidding Round
Other areas: Concession Regime 11th and 12th Rounds
Onerous assignment: 7 blocks
Summary
Resumption of ANP Bidding Rounds 1
12th Bidding Round – Concession Contract 4
1st Pre-salt Round – Production Sharing Contract 5
Final Comments 6
11th Bidding Round – Concession Contract 3
Current Scenario & Investments Perspectives 2
Proven Reserves Oil – ~15.3 billion bbl Gas – ~459.3 billion m3
Near future: x2
Imports/Exports Balance Oil – 237.9 thousand bbl/day Gas – 35.8 million m3/day
Production Oil and NGL – 2.2 million bbl/day
Gas – 70.7 million m3/day Near future: x2
Current scenario and perspectives (2012)
39 national companies 38 foreign companies
Petroleum Natural Gas
0
5
10
15
20
25
30
35
40
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Near future
Proven Reserves (Bboe)
Why invest in Brazil?
Source: BNDES. Study: Visão do Desenvolvimento nº 100 – April, 2012
7
11
14
21
25
25
26
56
58
354
0 50 100 150 200 250 300 350 400
Aerospace
Industrial Health
Textile
Steel
Electronics
Chemical
Paper and Cellulose
Automotive
Mining
Oil and Gas
R$ billion
Oil and Gas: 63%
Investments 2012-2015
Next decade, the demand for goods and services should reach U$ 400 billion
Opportunities for suppliers in the petroleum sector
6 7 9
13
18
22 24
26
0
5
10
15
20
25
30
2005 2006 2007 2008 2009 2010 2011 Valor Médio
(2012-2016)
Petrobras Investments in E&P in Brazil Average values in the 5- year period Business Plan
(US$ Billion)*
*Based on information from the Petrobras Business Plan
Shell OGX Queiroz Galvão BP Statoil Chevron BG Petrogal Others
Average values
(2012-2016)
Source: Adapted from the 4th balance of PAC 2, 2012
Brasfels Shipyard
P-57 (Jubarte)
P-56 (Marlim Sul)
P-61
6 rigs
Rio Grande Shipyard
P-55 – modules and topside
8 replicants – hulls
3 rigs
Petrobras – already auctioned
28 drilling rigs 7 in PE, 6 in BA, 6 in ES, 6 in RJ and 3 in RS
Rio Grande Harbor Shipyard
P-63
P-58
Action completed/operation
Running
Auctioned
Provided
Naval industry
Inhaúma Shipyard
Conversion of 4 FPSOs (P-74, P-75, P-76 and P-77)
Onerous Assignment
OSX Shipyard (under construction)
6 modules (OGX)
4 hulls (OGX)
5 drillships (BR)
7 WHP (OGX)
Jurong Shipyard (under construction) 6 rigs
Atlântico Sul Shipyard
7 rigs
P-62
São Roque Shipyard
P-59
P60
6 rigs
Naval Industry with LC Platforms, drilling rigs, supply boats
Sea Brasil – STX - RJ Atlântico Sul Shipyard - PE
Mauá Shipyard – RJ (P-50) BrasFels Shipyard – RJ (P-52)
Rio Grande Shipyard - RS
Summary
Resumption of ANP Bidding Rounds 1
12th Bidding Round – Concession Contract 4
1st Pre-salt Round – Production Sharing Contract 5
Final Comments 6
11th Bidding Round – Concession Contract 3
Current Scenario & Investments Perspectives 2
The 11th Bidding Round
Basin State Area (km2)
Foz do Amazonas AP 44,500
Pará-Maranhão PA, MA 4,616
Barreirinhas MA 13,074
Ceará CE 7,388
Potiguar CE, RN 7,326
Pernambuco-Paraíba PE, PB 6,291
Espírito-Santo ES 4,330
Parnaíba MA, PI 59,764
Sergipe-Alagoas AL 733
Recôncavo BA 475
Tucano Sul BA 6,455
Potiguar RN 588
Espírito-Santo ES 179
289 blocks in 11 states
Total area: 155,718 km2 or 60,123 sq. miles
Equatorial Margin
Shallow and deep-water areas – 75.6 M km2: Opportunities for oil companies and suppliers
Foz do Amazonas
Pará-Maranhão
Potiguar
Ceará
Barreirinhas
Equatorial Margin
Discovered in September 2011;
Concessionaries: Tullow (27.5%), Shell (45%), Total (25%), Nothern Petroleum (1.25%) e Wessex Exploration (1.25%);
First deep-water well in French Guiana (LDA 2,048 m);
Zaedys >> 50 km from Brazilian boarder;
Forecasted VOIP: 700 MM bbl;
Well final depth ~ 6,000 m.
South America Analogues French Guiana - Zaedyus Prospect
Source: http://www.rigzone.com/news/article.asp?a_id=104992
Prospects
Source: Modified from Brownfield & Charpentier. USGS, 2007
Guine Golf Province
Countries boarder
Natural gas fields
Oil fields
Analogues in African Equatorial Margin
Opportunities in the Eastern Margin
Deep water areas: Opportunities for oil companies and for suppliers Area: 10,621 km2 or 4,100 sq. miles
Espírito-Santo PEPB
Gas commercial discoveries: Gavião Real, Gavião Azul and Gavião Branco Electricity from Natural Gas → reduction of regional inequalities
Source: OGX and MPX
“Gaviões” Park – MA (OGX)
Parnaíba Thermoelectric Plant
Mature basins
Mature basins: opportunities for small companies Area: 1,975 km2 or 763 sq. miles
Sergipe-Alagoas
Potiguar Recôncavo Espírito-Santo
The 11th Bidding Round Participation Rules
Basin State Area (km2)
Foz do Amazonas AP 44,500
Pará-Maranhão PA, MA 4,616
Barreirinhas MA 13,074
Ceará CE 7,388
Potiguar CE, RN 7,326
Pernambuco-Paraíba PE, PB 6,291
Espírito-Santo ES 4,330
Parnaíba MA, PI 59,764
Sergipe-Alagoas AL 733
Recôncavo BA 475
Tucano Sul BA 6,455
Potiguar RN 588
Espírito-Santo ES 179
Total area: 155,718 km2 or 60,123 sq. miles
289 blocks in 11 states
The 11th Bidding Round Schedule - 2013
Pre-tender (up to March 10th) and tender protocol (after March 11th)
Access to data package: up to March 26th
www.brasilrounds-data.anp.gov.br/ebid
Technical-Economic-Financial qualification: up to March 26th
Technical-environmental Seminar: March 18th Legal & Tax Seminar: March 19th Bid bonds: up to April 26th Submission of bids: May 14th and 15th
Expression of interest from companies: up to March 26th
Signing of contract: August, 2013
Geological Summary Potencial Methods 2D and 3D Seismic
Wells Data Geological Reports Environmental Topics
The 11th Bidding Round Data Package
www.brasilrounds-data.anp.gov.br/ebid
Exploration & Production Databank
The ANP Data Bank (BDEP) The BDEP website offers the BDEP Web Maps application which provides interactive maps with positioning and information about: 2D and 3D Seismic Data Well Data (Logs & Reports) Gravimetric and Magnetometric Data Geochemical data
Including Data Acquisition Companies - DAC information
www.bdep.gov.br
Petroleum companies can be qualified as A, B or C operators, or as non-operators (if part of a consortium*)
C Operator Onshore areas
Minimum Equity: R$ 3.8 million
B Operator Shallow water and
onshore areas Minimum Equity:
R$ 59 million
A Operator Deep, ultra-deep, shallow water and onshore areas
Minimum Equity: R$ 107 million
The 11th Bidding Round Technical-economic-financial
qualification
* Minimum Equity for non-operators: half of the operator minimum equity.
SIGNATURE BONUS
MINIMUM WORK PROGRAM (MWP)
LOCAL CONTENT
Evaluation of the offers: Signature Bonus
Local Content
Minimum Work Program (MWP)
Bid-rounds held by ANP allow the participation of Brazilian and non-Brazilian companies with a branch office in Brazil
40%
20%
40%
The 11th Bidding Round Offer Requirements
How to offer Local Content? Example
Sub system: Operational Support
LOGISTICAL SUPPORT (AIR, SEA, BASE)
Sub system: Geology & Geophysics
PURCHASE
Weight Local Content
Offered
Local Content
Minimum
INTERPRETATION& PROCESSING
Sub system: Drilling, Evaluation & Completion
RIG LEASE
DRILLING + COMPLETION
AUXILIARY SYSTEMS
Weight Local Content
Offered Local Content
Minimum
Weight Local Content
Offered
Local Content
Minimum
Equatorial Margin Eastern Margin
Mature basin
Onshore new frontier
Shallow water Deep water Deep water
Minimum Signature
Bonus (R$ x 1,000)
588 – 5,503 1,869 – 13,591 128 – 8,075 25 – 246 44 – 1,767
Minimum Work Program
(UT) 92 – 408 225 – 449 225 257 515 – 1,056
The 11th Bidding Round Minimum signature bonus &
Minimum work program
Summary
Resumption of ANP Bidding Rounds 1
12th Bidding Round – Concession Contract 4
1st Pre-salt Round – Production Sharing Contract 5
Final Comments 6
11th Bidding Round – Concession Contract 3
Current Scenario & Investments Perspectives 2
12th Bidding Round (30 and 31/10/13)
Natural Gas onshore
São Francisco Basin Buritizeiro County
Parnaíba Basin “Gaviões” Park
Opportunities for electric power generation
Acre Basin
Parecis Basin Teles Pires River
Paraná Basin Barra Bonita field
Recôncavo Basin
Pending approval from CNPE
Reserves - 30 TCF in 1,196 km3 of rock Average depth: 1,500 to 2,400 m
“Analogue”– Barnett Shale
Forecasted in situ volumes (if valid analogue)
Parnaíba – 64 TCF
Parecis – 124 TCF
Recôncavo – 20 TCF
São Francisco – 80TCF
Paraná – 226 TCF* (EIA/2011) * not endorsed by ANP
12th Bidding Round (30 and 31/10/13)
Possibilities for unconventional gas
Summary
Resumption of ANP Bidding Rounds 1
12th Bidding Round – Concession Contract 4
1st Pre-salt Round – Production Sharing Contract 5
Final Comments 6
11th Bidding Round – Concession Contract 3
Current Scenario & Investments Perspectives 2
1st Pre-salt Bidding Round (28 and 29/11/13)
Production sharing regime
Signature Bonus, MWP and LC
Defined in Tender Protocol
% OF PROFIT OIL ?% BID PARAMETER
The winner best offer!
Petrobras as operator with at least 30% participation.
• “Libra” – forecasted VOIP ~ 18 billion bbl; • Adjacent areas to findings and/or fields; • Other areas in Santos Basin.
1st Pre-salt Bidding Round (28 and 29/11/13)
Opportunities under consideration
“Libra” – VOIP ~ 18 billion barrels
Net pay: 326.4 m 27 API oil Test at 5548 a 5560 m: 1. Flow, Ø = 32/64” – 3667 bopd
2. Flow , Ø = 16/64”– 1057 bopd
(to collect fluid)
Libra Prospect– Fast track – Salt base – mapping in time
2-ANP-2A-RJS 2-ANP-2A-RJS
1st Pre-salt Bidding Round (28 and 29/11/13)
Opportunities under consideration
Summary
Resumption of ANP Bidding Rounds 1
12th Bidding Round – Concession Contract 4
1st Pre-salt Round – Production Sharing Contract 5
Final Comments 6
11th Bidding Round – Concession Contract 3
Current Scenario & Investments Perspectives 2
Final comments
Brazil is resuming bidding-rounds for O&G exploration and production, after the new pre-salt regulatory framework;
The Country is aware of the scale of its opportunities, therefore it tries to use the O&G sector to boost the industrial development, using the Local Content policy;
This means Brazil has not only opportunities for O&G companies, but also opportunities for suppliers, mainly for those that are willing to establish themselves in Brazil; The resuming of Brazilian bidding rounds, opening the Equatorial Margin, the pre-salt and the search for gas onshore in enormous basins can give a good idea of the size of the country’s potential;
In Brazil, exploratory opportunities go far beyond the pre-salt.
National Agency of Petroleum, Natural Gas and Biofuels – ANP
Av. Rio Branco, 65 – Centro – Rio de Janeiro – Brasil 12º to 22º andar
Phone: +55 (21) 2112-8100
www.anp.gov.br