The National Agency for Petroleum, Natural Gas and Biofuels (ANP) reported that, by 2027, oil companies operating in the country will invest BRL 21 billion in the exploration phase alone, a step that precedes production. Of this total, BRL 5.6 billion (29%) are expected to occur in 2023 and BRL 7 billion (34%) in 2024, according to the ANP.
The information was presented this Wednesday, the 19th, during the presentation of the “Annual Exploration Report 2022 – Diagnosis and Prospects for Oil and Natural Gas Exploration in Brazil”. According to the report, the number of discovery notifications in Brazil increased by approximately 54% last year when compared to the year 2021. There were 20 notifications in 2022, against 13 in the previous year.
In 2022, there was also a small increase in the number of wells drilled compared to the previous year. There were 22 wells in 2021 and 23 wells in 2022, demonstrating that the sector is still recovering from the covid-19 pandemic, the agency highlighted.
At the end of 2022, 295 blocks were under contract, a total that represented an increase of 19% compared to 2021, interrupting the downward trend observed since 2019. This is equivalent to more than 186 thousand square kilometers (m?) of basins with exploratory blocks.
Also according to the report, of the 295 blocks with current contracts, 246 were active and 49 suspended, that is, around 17% of the contracts were suspended. In most of these contracts, the suspension was due to the delay in the environmental licensing process, informed the ANP.
“Assuring the increase in exploratory activities in Brazil is ensuring the country’s energy security, as well as maintaining jobs, income and government stakes in Brazilian society. In 2022 alone, the ANP distributed around BRL 130 billion in royalties, special participations and signature bonuses”, said the director general of the ANP, Rodolfo Saboia, during the event.
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