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					    THE OIL AND GAS INDUSTRY IN BRAZIL
                       THE ROLE OF THE REGULATOR




Nelson Narciso Filho                    October 2009
ANP Director
                         • Potential
                     • Database
                • Pre-salt

           • Political and Economical Stability

      • Developed domestic market
• Regulatory Stability
       • Transparent processes
                 • Opportunities
• Area – 8,547,403.5 Km²
• Population -186.5 million
• GDP – US$ 1.5 trillion
• World´s tenth largest economy
• The 10th country in the world to attract
 investments
 (US$ 45.1 billion in foreign direct investments)
• Political and economical stability
• Over US$ 200 billion in International Reserves
• Investment grade
 (Moody´s, Fitch and Standard and Poors)
Constitutional Amendment          ANP’s Responsibilities
          # 9/1995
 Makes the Union monopoly
 flexible and establishes the    REGULATION       CONTRACTING        MONITORING
       Granting System


    Oil Law 9.478/1997
       Creates CNPE               • Implement CNPE’s resolutions
         and ANP                  • Define explorations blocks
  Gas Law 11.909/2009             • Include areas in mature, high potential and new
    Gaspipe Concession              frontier basins;
                                  • Promote the participation of small companies and
                                    the continuity of exploration and production in
                                    mature areas
      CNPE # 8/2003
                                  • Set criteria that encourages exploratory programs

Establishes guidelines for the    • Set a minimum percentage for the local content
     Rounds of Bidding            • Manage contracts
            STATE




             ANP

        Regulatory Agency



Investors             Consumers
Oil and Gas Overview
• Regulatory Stability: over 10 years of Petroleum Law and ANP
• Brazil is one of the countries with the highest volume of seismic data
• Brazil is one of the countries with the highest increase of incorporated reserves in
 the recent years
• Recent discoveries at Pre-Salt: Santos and Campos basins
• 77 groups (38 foreign companies) involved in E&P activities
• Solid local industry, with large availability of materials, equipments and services
• Well-developed domestic market (over 100 billion liters of fuel/year)
• New pre-salt regulatory framework submitted to the congress
Areas under concession
• 29 sedimentary basins with oil and gas potential;
• 7.5 million Km², with 2.5 million Km² offshore;
• Around 350,000 Km² of exploratory areas under concession;
• Approximately 21,000 Km² of areas in development and production in the country



                      Only 4,9%
                        under
                     concession
                       for E&P
                      activities
Available Information
                                      • Geological Summary

                                      • Seismic 2D and 3D
Brazilian Exploration and              (2.3 Petabytes – pre stack and 14
                                       Terabytes – pos stack)
Production Database (BDEP)
                                      • Wells data (23,164 wells)
Includes data acquired during the
monopoly of Petrobras and after the   • Potential Methods (246 reports)
opening of the Brazilian market
                                      • Geological Reports from Universities

                                      • ANP’s Geological Interpretations
                    Sequence of Activities
Grav/Mag Surveys                      Geochemical Surveys                   Seismic Surveys




                                                            Well Drilling
                   Data Integration



                                                                                 2008-2012
                                                                                US$ 1 billion
 Blocks      Beginning of   Qualification
                                            Bidding and
definition   the process       of the
                                            Concession
                             companies
     Panamá
      Panama
       Japão
        Japan
         Itália
          Italy
         Índia
         India
       França
       France
     Espanha
        Spain
   Dinamarca
     Denmark
       Coréia
        Korea
    Colômbia
    Colombia
    Cingapura
    Singapore
    Argentina
    Argentina
       Angola
       Angola
     Portugal
     Portugal
     Noruega
      Norway
 Reino Unido
United Kingdom
     Austrália
     Australia
      Canadá
      Canada
         EUA
         USA
        Brasil
        Brazil

                  0   10   20   30   40
What is it ?
• Companies must prioritize acquiring goods and services from Brazilian suppliers;
• One of the three Bid Factors of the Exploration and Production Bidding Rounds;


What does Brazil offer?
• Opportunity to create joint-ventures
• Manpower supply
• Developed industry of goods and services

• Manpower development programs: CT-Petro, PRH and Prominp




          BRASIL            =       MANPOWER            +    TECHNOLOGY
Sectors of High
Competitiveness*:         Sectors of Medium
- Forging                 Competitiveness*:
                                                       Sectors with No
- Tubes                   - Connections   e joints     National Production*:
- Rods e pumping units    - Boilery                    - Compressors (centrif.)
- Subsea equipment        - Compressors (alternativ)   - Motors (gas) and diesel
- Pumps                   - Gas and Diesel Motors       (large scale)

- Turbines (steam)        - Cranes and Tow-Trucks      - Turbines (gas)
- Generators e Electric   - Valves                     - Instrumentation
 motors
                          - Engineering services
- Substation and
 transformers             - Construction and
                          Assembly
                                                                        * Prominp
Opportunities:
• Engineering services
• Construction and assembly services
• Instrumentation                      joint-ventures
• Drilling equipments
• Wells completion
                                       Opportunities
• Support to diving and ROV vehicles
• Support in binding activities
• Special supply boats
• Subsea wells connection
• Others
• Duration: up to 34 years, including the exploratory phase and the production phase

• The exploration phase may last from   3 to 7 years, divided in two periods
• Immediate announcement of any discovery
• Mandatory choice between the return of the area or the commitment of well drilling
• Declaration of commerciality
• Submission of the Development Plan for ANP’s approval

• Maximum period of production:   27 years
• Multiple Development Areas possible under single Concession Agreement
• Rules of unitization
• Mandatory R&D investments only for fields that pay Special Participation
(1% of gross field revenue)
According to the
Law Project
5938/2009,
the pre-salt area
was defined like this




                                     Iara
                            APPRAISAL – on evaluation
          Tupi
 EWT (Extended Well Test)
          Production Sharing
              Agreement
       (Petrobras - operator of all blocks,   +
          Minimum 30% participation)
                                                      Creation of a state-
                                                       owned company:
                                +                         Petro-Sal

Onerous yielding
  to Petrobras
                                                  +
(up to 5 billion barrels)

                                              Creation of a
                                              Social Fund
                    Promote technical studies


    Prepare the bidding documents
    for the Production Sharing
    Agreement contracts
                          Ensure the best industry
                          practices are honored

Analise and approval of the evaluation and
development production plans

                                Regulate and supervise
                                activities and contracts
             ANP                      x           Petro-Sal




• Oversees the industries’                • Takes part in the Operational
  best practices, the sector’s            Committee of the business
  competitiveness and                     consortium
  environment protection
                                          • Supervises the profitability of
• Regulate and Monitor the Industry       the areas under PSA

• State   goals                           • Government          goals
CHANGE IS EVOLUTIONARY AND
 SPECIFIC TO A NEW REALITY
• Sedimentary basins are at different stages of exploration and
there are still several unexplored areas
• Opportunities for different kinds of companies
• Excellent local capacity for provision of goods and services

• Domestic market – more than     100 billion liters of oil/year   Brazil is one
                                                                        of the
• Pre-salt                                                         Best choice
• Institutional and regulatory stability distinguishes             of investment in
 Brazil from other countries with high oil and gas potential         the world
• Open for investments
ANP is fully
committed with:

• Stability of the rules


• Strict contract observation


• Absolute transparency


• Investment friendly
  environment
                                               THANK YOU!

           Agência Nacional do Petróleo, Gás Natural e Biocombustíveis
                                 Av. Rio Branco, 65 - 21º and 22º floors
                                           Rio de Janeiro – RJ – Brasil
                                                  Tel.: (55 21) 2112-8150




nnarciso@anp.gov.br | www.anp.gov.br | www.brasil-rounds.gov.br

				
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