NOF Energy Networking & Events: Oil & Gas Market Visit to Brazil, 11th to 18th June 2011

11 – 18 June 2011

Rio, Macae and Porto Alegre 

Oil & Gas Market Visit to BRAZIL

Meet with key players in this KEY oil and gas market 

Specialists estimate that the pre-salt offshore area in Brazil may contain 56 billion barrels of oil. The new big discoveries in this region can make Brazil the 6th largest oil and gas producer in the world.

The Market

Brazil is the largest energy market in South America and has the second largest oil reserves in Latin America (after Venezuela). The country achieved net oil self-sufficiency in April 2006 as production reached 1.88 million barrels of oil per day. Now, Brazil is producing over 2 million barrels a day (boed). 

Currently, more than 80 percent of the production comes from the Campos Basin but significant new discoveries are being made in the Santos and Espírito Santo basins in the Southeast of the Country. The State-run company Petrobras is still the dominant player but the end of state monopoly in 1997 attracted most international oil companies, including Shell, BG, BP, Exxon, Statoil and Chevron.

Projects

Petrobras plans to invest US$ 224 billion under its 2010-2014 business plan (representing an average of $44.8 billion per year). The Plan includes significant utilization of the domestic supplier market, with local content forming 67% of total investment. This rate would signify annual purchases of some $28.4 billion in Brazil.

The programme includes the development of 45 platforms, 49 ships, 195 vessels, 4 gas treatment plants and new and upgraded refineries. 

Other International Operators are also progressing in Brazil. According to the Brazilian Petroleum Institute, the International companies plan to invest around US$ 42 billion up to 2014

The British operators are well positioned in Brazil. Present in Brazil since 1994, BG has already invested US$ 5 billion in Brazil. Most of the investment is related to Exploration and Production. BG has currently 6 exploratory blocks in Brazil in partnership with Petrobras. In a broad-ranging deal, BP announced recently that will pay Devon Energy $7.0 billion in cash for assets in Brazil, Azerbaijan and the US deepwater Gulf of Mexico. These include interests in ten exploration blocks in Brazil, including seven in the prolific Campos basin. Since 1998, Shell has invested more than US$ 3 billion in Exploration & Production (E&P) activity. 

NOF Energy is organising a visit to BRAZIL - pre-arranged appointments with key oil & gas players including Petrobras with the aim of introducing you to new business opportunities and to showcase your company to key buyers.

We will also visit Brasil Offshore taking place in Macaé, the base of operations for over 80% of Brazil's Offshore exploration, the event attracts a global audience of over 49.000 professionals and showcases 636 exhibiting companies.

Demand is expected to be high for this visit for more information about the visit and/or to book your place please contact Kristie Leng, Lead Events Coordinator at NOF Energy by telephone +44 (0)191 3846464 or by email kleng@nofenergy.co.uk