Investments in oil and natural gas exploration could reach US$1.96 billion in 2024, according to data compiled by ANP (National Agency for Petroleum, Natural Gas and Biofuels). The estimate corresponds to the initial stage of E&P contracts, the exploration phase, which begins with the signing of the contract.
In the exploration stage, companies carry out studies and activities to detect the presence of oil and/or natural gas in sufficient quantities to make their extraction economically viable. ANP data does not include information on the development and production phase.
According to the agency, 95% of investments planned for 2024 are concentrated in maritime basins. In the Equatorial Margin, made up of the Foz do Amazonas, Pará-Maranhão, Barreirinhas, Ceará and Potiguar basins, the forecast is US$ 1.09 billion.
For the East Margin basins – Pernambuco-Paraíba, Sergipe-Alagoas, Jacuípe, Camamu-Almada, Jequitinhonha, Cumuruxatiba, Mucuri, Espírito Santo, Campos, Santos, Pelotas – the estimated amount is US$ 772 million.
The onshore basins have US$100 million planned in investments. The resources will be distributed between the new frontiers (Amazonas, Paraná, Parnaíba, São Francisco, Solimões and Tucano Sul), with US$61 million, and the mature ones (onshore basins Potiguar, Sergipe, Alagoas, Recôncavo, Espírito Santo), with US$39 million.
In relation to the sector's activities, well drilling is the one with the most investments planned for this year. According to the ANP, US$1.71 billion is projected for the drilling of 39 exploratory wells, equivalent to 87% of the estimated investments for this year.
The information is from Dynamic Investment Forecast Panel in the Exploration Phase and were collected on January 16th. The ANP informed that the panel information is subject to updates by companies holding E&P contracts.
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