Pre-salt: overview and opportunities - Rio Oil & Gas 2012
 

Pre-salt: overview and opportunities - Rio Oil & Gas 2012

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Carlos Tadeu Fraga, Rio Oil & Gas 2012 presentation.

Carlos Tadeu Fraga, Rio Oil & Gas 2012 presentation.

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Pre-salt: overview and opportunities - Rio Oil & Gas 2012 Pre-salt: overview and opportunities - Rio Oil & Gas 2012 Presentation Transcript

  • CARLOS TADEU FRAGA Sep / 2012
  • Disclaimer The presentation may contain forecasts about future events. Such forecasts merely reflect the expectations of the Companys management. Such terms as "anticipate", "believe", "expect", "forecast", "intend", "plan", "project", "seek", "should", along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein. The Company is not obliged to update the presentation/such forecasts in light of new information or future developments. All projects forecasted herein are subject to approval by the appropriate stakeholders. CAUTIONARY STATEMENT FOR US INVESTORS The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation, such as oil and gas resources, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC.
  • AGENDA PRE-SALT BACKGROUND STRATEGY MAIN RESULTS PERSPECTIVES
  • Pre-Salt - Key Facts
  • Pre-Salt - Key Facts • 31 % under contract • 69 % to be granted through upcoming bids
  • Pre-Salt - Key FactsSome key facts:Average water depth: 2100 m • 31 % under contractDistance to coast: 300 km • 69 % to be granted through upcoming bidsAverage salt thickness: 2 kmAverage reservoir depth: 5 kmDeclared Recoverable Volumes · Lula: 6.5 billion boe · Lula - Iracema Area: 1.8 billion boe · Sapinhoá: 2.1 billion boe · Transfer of Rights: 5.0 billion boe Transfer of Rights:Total: 15.4 billion boe 100% Petrobras
  • Santos Pre-Salt Cluster vs Campos Basin BM-S-11 (TUPI)
  • Santos Pre-Salt Cluster vs Campos Basin BM-S-11 (TUPI)
  • Santos Pre-Salt Cluster vs Campos Basin BM-S-11 (TUPI)
  • Santos Pre-Salt Cluster vs Campos Basin BM-S-11 (TUPI)
  • Santos Pre-Salt Cluster vs Campos Basin BM-S-11 (TUPI)
  • Santos Pre-Salt Cluster vs Campos Basin BM-S-11 (TUPI) 40 times Guanabara Bay
  • Pre-Salt timeline 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000-2001: BIDs 2 and 3: Blocks acquisition of Santos Basin Pre-Salt blocks 2001-2004: Seismic acquisition and interpretation 6km Pre-salt 3D Seismic reservoir
  • Pre-Salt timeline 2000 2001 2002 2003 2004 2005 2006 2007 2008 20092005-2006: 1st wildcat well Santos Basin - Parati 2006: Lula (Tupi) discovery - RJS-628 2007: Caxaréu discovery - ESS-172 P-34 - Jubarte May 2009: Lula fieldSep 2008: Campos Basin 1st oil - ESS-103A 1st oil - Lula EWT
  • Pre-Salt timeline 2008 2009 2010 2011 2012 2013 2014 2015 2016 Sep 2010: Transfer of Rights Oct 2010: 1st oil of Lula Pilot Dec 2010: Declaration of Commerciality - Lula Field
  • Pre-Salt timeline 2008 2009 2010 2011 2012 2013 2014 2015 2016 Dec 2010 to July 2011: Sapinhoá EWT Dec 2011: Declaration of Commerciality Sapinhoá Field Sapinhoá
  • Pre-salt Potential 15.4 bi boe* Declared Recoverable Produced = 15.5 bi boe Volume Lula + Sapinhoá + Transfer of Rights* Declared volume operated by Petrobras
  • AGENDA PRE-SALT BACKGROUND STRATEGY MAIN RESULTS PERSPECTIVES
  • Deep Water Track Record Thousand bpd Shallow Deep & Ultra deep Onshore Deep Water Pre Salt Water Water123 offshore units (45 floating and 78 fixed) 25 new offshore facilities over the last 5 years Uruguá Lula Pilot Jubarte Marlim Sul FPSO Cidade de Santos FPSO Cidade de Angra dos Reis P-57 P-56
  • Strategy 2 FPSOs Contracted Contracted performing EWTs (First oil by 2013) (First oil by 2014/2015) Phase 0 Phase 1a Phase 1b Information Gathering Production Innovation acceleration 2008/2018 2013/2017 After 2017 • Appraisal Wells • Sapinhoá Pilot • New technologies • Extended Well Tests • Lula NE Pilot • Lula Pilot • Sapinhoá N • Iracema S • Iracema N • 8 Replicants FPSO`s • 4 Transfer of Rights production units Hulls + Topsides Hulls contracted 1st oil just 4 years contracted Topsides being contracted after discovery (First oil by 2016) (First oil by 2016)
  • Oil Transfer In operation Under Construction
  • Gas Transfer COMPERJ 250 km Rota 2 Rota 3 Rota 1 OPERATION CONSTRUCTION DESIGN Capacity Status (million m3/day)1 - LULA-MXL + UTGCA 10 Operation Construction2 - CABIÚNAS 16 Aug/143 - MARICÁ 18 Design - Aug/16
  • AGENDA PRE-SALT BACKGROUND STRATEGY MAIN RESULTS PERSPECTIVES
  • Main Results - Exploration
  • Main Results - Exploration
  • Main Results - Exploration
  • Main Results - Exploration Exploratory wells drilled Santos Basin Campos + Santos Basin 32 wells 73 wells Success Success > 90% > 80%
  • Main Results - EWT EWT Period Block Lula Apr/09 to Dec/10 BM-S-11 Lula NE Apr/11 to Nov/11 BM-S-11 Sapinhoá Dec/10 to Jul/11 BM-S-9 Carioca NE Oct/11 to Feb/12 BM-S-9 Iracema S Since Feb/12 BM-S-11 · Very good lateral continuity · High productivity
  • Main Results - Lula Pilot • Sucessfull pionering CO2 reinjection in deep water • Very high productivity • First horizontal well • Fast track project
  • Production Output Jan / 2011 54 k bpd 31 k bpd 85 k bpd AUG/2012 Sep / 2012 PPSBS 113 mil bpd 107 k bpd 100 BC 78 mil bpd 85 k bpd million 192 k bpd boe SEP/2008
  • Typical Mega Project EDISE
  • Technological Highlights - Subsurface See through salt Good reservoir characterization Suitable geological and flow model
  • Technological highlights - Wells Construction PoçosSafety andreliable wellsCost-effectiveand high productivitywells for pre-salt conditions
  • Technological highlights - SubseaSafety and Cost-effective forreliable subsea systems ultra deep water projects
  • Technological highlights · Floating Production Units Suitable for pre-salt fluids and contaminants
  • AGENDA PRE-SALT BACKGROUND STRATEGY MAIN RESULTS PERSPECTIVES
  • Energy Landscape · Consumption Source: IEA, 2010 1990 Others Oil & Gas 3147 Mtoe 4962 Mtoe 8109 Mtoe 2010 2030 Oil & Gas Oil & Gas 9720 Mtoe 6794 Mtoe Others Others5207 Mtoe 6486 Mtoe 12001 Mtoe 16206 Mtoe
  • Energy Landscape · Major Offshore Discoveries Thunder Horse (GoM) Zafiro, Bonga (Niger Delta) Girassol (Lower Congo Basin) Marlim, Albacora, Roncador (Brazil)
  • Energy Landscape · Major Offshore Discoveries Established Emerging Havis, Goliat, Frontier Avaldsnes-Aldous, Barents Sea North Sea Aphrodite, Mediterranean Zaedyus, Cameia-1, Cobalt French and Azul-1, Moccasin, Guyana Angola Pre-salt US GoM Multiple, Mozambique Lula, Cernambi, Sapinhoá, Franco Brazilian Pre-salt Major Offshore Discoveries 2012 Exploration ProjectsSource: Oil & Gas Journal 2010
  • Energy Landscape · 20302030 - Oil and NGLs Production Forecast (million b/d) + 17 % Europe Asia Pacific South America Africa Asia North and Central America Middle East Source: WoodMackenzie, 2010
  • Energy Landscape · 20302030 - Offshore Oil and NGLs Production Forecast (million b/d) + 26 % Europe Asia Pacific South America Africa Asia North and Central America Middle East Source: WoodMackenzie, 2010
  • Energy Landscape · 20302030 - Deepwater Oil and NGLs Production Forecast (million b/d) + 90 % Europe Asia Pacific South America Africa Asia North and Central America Middle East Source: WoodMackenzie, 2010
  • Perspectives Franco 4 Oil Production Lula Alto Jan/16 Jan/18 Sul de Guará Lula Central Jan/18 Mar/16 Lula Ext Sul Jan/17 Júpiter Lula Sul Mar/18 Sapinhoá Jun/16 Iara Horst Carcará Ent. de Iara Florim Norte (C. de Franco 1 Jun/17 IlhaBela) NE Tupi Mar/18 Dez/19 Dez/20 Piloto Jul/16 Franco 5 Set/14 Jul/17 Sapinhoá Carioca 1 Dez/18 (Cidade de Iracema Sul Iara NW São Paulo) (Cidade de Ago/16 Out/17 Sul Parque das 4.200 Mangaratiba) Lula Norte Baleias Jan/13 Franco 3 Nov/14 Set/16 Piloto Lula NE Dez/17 Baleia Azul Norte Parque Iracema Franco 2 (Cidade de (Cidade de Paraty) das Baleias Norte Dez/16 Anchieta) (P-58) Mai/13 Dez/15 2.500 Papa Terra (P- Carimbé Maromba 2.022 Baúna e 61 e P-63) Piracaba Roncador III Roncador IV (Cidade de Itajaí) Aruanã Espadarte I Bonito Espadarte III (P-55) (P-62) 2011 2012 2013 2014 2015 2016 2017 2018 2019 20202011 2016 20202.022 k bpd 2.500 k bpd 4.200 k bpd Pre-Salt (concession) 95% 69% 42% 28% Pos-Salt Pos-Salt Pos-Salt 30% 19% 5% Pre-Salt (concession) 1% Pre-Salt (concession) 11% Pre-Salt Transfer of Rights New Discoveries (Transfer of Rights)
  • PerspectiveOil Production Franco 4 Lula Alto Jan/18 Jan/16 Sul de Guará Lula Central Jan/18 Mar/16 Lula Ext Sul Jan/17 Júpiter Lula Sul Mar/18 Sapinhoá Jun/16 Iara Horst Jun/17 Carcará Ent. de Iara Florim Norte (C. de Franco 1 IlhaBela) NE Tupi Mar/18 Dez/19 Dez/20 Piloto Jul/16 Franco 5 Set/14 Jul/17 Sapinhoá Carioca 1 Dez/18 (Cidade de Iracema Sul Iara NW Ago/16 São Paulo) (Cidade de Out/17 Sul Parque das 4.200 Mangaratiba) Lula Norte Baleias Jan/13 Franco 3 Nov/14 Set/16 Piloto Lula NE Dez/17 Baleia Azul Norte Parque Iracema Franco 2 (Cidade de (Cidade de Paraty) das Baleias Norte Dez/16 Anchieta) (P-58) Mai/13 Dez/15 2.500 2.022 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Baleia Azul (FPSO Cidade de Anchieta) 1st oil: September 2012
  • PerspectiveOil Production Lula Alto Franco 4 Lula Ext. Sul Sul de Guará Lula Central Florim Iara Horst Júpiter Lula Sul Entorno de Iara NE Tupi Carcará Franco 1 Franco 5 4.200 Iara NW Carioca 1 Sapinhoá Norte Franco 3 Piloto Sapinhoá (Cid. Ilhabela) Lula Norte (Cid. São Paulo) Iracema Franco 2 Iracema Sul Piloto Lula NE (Cid. Mangaratiba) Norte (Cid. Paraty) 2.500 2.022 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Sapinhoá Pilot (FPSO Cidade de São Paulo) 1st oil: January 2013
  • PerspectiveOil Production Lula Alto Franco 4 Lula Ext. Sul Sul de Guará Lula Central Florim Iara Horst Júpiter Lula Sul Entorno de Iara NE Tupi Carcará Franco 1 Franco 5 4.200 Iara NW Carioca 1 Sapinhoá Norte Franco 3 Piloto Sapinhoá (Cid. Ilhabela) Lula Norte (Cid. São Paulo) Iracema Franco 2 Iracema Sul Piloto Lula NE (Cid. Mangaratiba) Norte (Cid. Paraty) 2.500 2.022 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Lula NE Pilot (FPSO Cidade de Paraty) 1st oil: May 2013
  • PerspectiveOil Production Lula Alto Franco 4 Lula Ext. Sul Sul de Guará Lula Central Florim Iara Horst Júpiter Lula Sul Entorno de Iara NE Tupi Carcará Franco 1 Franco 5 4.200 Iara NW Carioca 1 Sapinhoá Norte Franco 3 Piloto Sapinhoá (Cid. Ilhabela) Lula Norte (Cid. São Paulo) Iracema Franco 2 Iracema Sul Piloto Lula NE (Cid. Mangaratiba) Norte (Cid. Paraty) 2.500 2.022 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Sapinhoá Norte (FPSO Cidade de Ilhabela) 1st oil: September 2014
  • PerspectiveOil Production Lula Alto Franco 4 Lula Ext. Sul Sul de Guará Lula Central Florim Iara Horst Júpiter Lula Sul Entorno de Iara NE Tupi Carcará Franco 1 Franco 5 4.200 Iara NW Carioca 1 Sapinhoá Norte Franco 3 Piloto Sapinhoá (Cid. Ilhabela) Lula Norte (Cid. São Paulo) Iracema Franco 2 Iracema Sul Piloto Lula NE (Cid. Mangaratiba) Norte (Cid. Paraty) 2.500 2.022 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Iracema Sul Project (FPSO Cidade de Mangaratiba) 1st oil: November 2014
  • PerspectiveOil Production Lula Alto Franco 4 Lula Ext. Sul Sul de Guará Lula Central Florim Iara Horst Júpiter Lula Sul Entorno de Iara NE Tupi Carcará Franco 1 Franco 5 4.200 Iara NW Carioca 1 Sapinhoá Norte Franco 3 Piloto Sapinhoá (Cid. Ilhabela) Lula Norte (Cid. São Paulo) Iracema Franco 2 Iracema Sul Piloto Lula NE (Cid. Mangaratiba) Norte (Cid. Paraty) 2.500 2.022 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Replicants FPSO Lula Alto (P66) 1st oil: January 2016
  • PerspectiveOil Production Lula Alto Franco 4 Lula Ext. Sul Sul de Guará Lula Central Florim Iara Horst Júpiter Lula Sul Entorno de Iara NE Tupi Carcará Franco 1 Franco 5 4.200 Iara NW Carioca 1 Sapinhoá Norte Franco 3 Piloto Sapinhoá (Cid. Ilhabela) Lula Norte (Cid. São Paulo) Iracema Franco 2 Iracema Sul Piloto Lula NE (Cid. Mangaratiba) Norte (Cid. Paraty) 2.500 2.022 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 E&P-PRESAL - R1 LULA ALTO - P-66 (Projeto Completo) ACOMPANHAMENTO FÍSICO DO PROJETO - CURVA S Fase II - Projeto Conceitual 100 MARCOS DE IMPLANTAÇÃO 1 - Conclusão da Fase Avaliação de Oportunidade (Portão 1) (P: jun-12 / R: jun-12) (P: 100% / R: 100%) 90 2 - Conclusão da Fase de Projeto Conceitual (Portão 2) (P:maio-13 / Proj:maio-13) (P: 5,5% / R: 5,5%) 8 10 3 - Emissão da Licença Prévia (LP) (P:jan-14 / Proj:jan-14) 1º Óleo (PNG 12-16): 4 - Conclusão da Fase de Projeto Básico (Portão 3) (P:mar-14 / Proj:mar-14) (P: 0% / R: 0%) jan/16 1º Óleo Projetado: 80 5 - Início da Construção 1º Poço (P:jun-14 / Proj:jun-14) jan/16 6 - Emissão da Licença de Instalação (LI) (P:dez-14 / Proj:dez-14) 70 9 1º Óleo EVTE: jan/16 7 - Chegada da UEP na Locação (P:set-15 / Proj:set-15) 7 Transfer of rights FPSOs 60 8 - Início da Interligação do 1º Poço (P:dez-15 / Proj:dez-15) 9 - Emissão da Licença de Operação (LO) (P: dez-15 / Proj:dez-15) 4 5 % Acumulado Aprovações Data Ata DE Data de Partida 10 - Interligação do último poço (P:mar-18 / Proj:mar-18) Fase I 50 6 22/06/12 Ata 4.950 08/01/16 Franco-1 (P74) - - - Fase II Fase III - - - 40 2 3 30 1st oil: July 2016 20 10 1 Justif.2 Referência: agosto/12 No mês Acumulado Previsto PNG: 3,0 p.p. 13,0% Realizado: 2,4 p.p. 12,0% 0 mar-10 jun-10 set-10 dez-10 mar-11 jun-11 set-11 dez-11 mar-12 jun-12 set-12 dez-12 mar-13 jun-13 set-13 dez-13 mar-14 jun-14 set-14 dez-14 mar-15 jun-15 set-15 dez-15 mar-16 jun-16 set-16 dez-16 mar-17 jun-17 set-17 dez-17 mar-18 Linha de Base Linha Base - PNG 12-16 Realizado Projetado Fonte: SAP 31/08/12. Data da medição pela Diretoria de Exploração e Produção: 14/09/12
  • INVESTMENTS 2012-2016 Petrobras Investments in Pre-salt: US$ 69,6 bi Santos Basin 85 % 15% 58,9 bi Development 10,7 bi Exploration Infra Santos Basin 82 % Campos Basin 4% 48,3 bi 14 % 2,4 bi 8,1 bi Total: Petrobras + Partners US$ 93,1 bi
  • For more information:Investor Relationswww.petrobras.com.br/ri+55 21 3224-1510petroinvest@petrobras.com.br