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Renato T Bertani October 2008

Brazil’s Oil Riches: First found in people’s minds, again Presentation to the University of Houston C. T. Bauer College of Business Global Energy Management Institute. Renato T Bertani October 2008. The Current Energy Matrix: fossil fuels are by far the largest source of energy.

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Renato T Bertani October 2008

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  1. Brazil’s Oil Riches:First found in people’s minds, againPresentation to the University of HoustonC. T. Bauer College of BusinessGlobal Energy Management Institute Renato T Bertani October 2008

  2. The Current Energy Matrix: fossil fuels are by far the largest source of energy Total Consumption: 462 quadrillion btu Total Consumption: 462 quadrillion btu OECD NON OECD Liquids: Conventional (oil, condensate, natural gas plant liquids, refinery gains) Non-Conventional (oil sands, extra heavy oil, biofuels, GTL, CTL) Source: EIA, Sept08

  3. Fossil Fuels will continue as the main source of energy Source: EIA, Sept 08 Liquids: Conventional (oil, condensate, natural gas plant liquids, refinery gains) Non-Conventional (oil sands, extra heavy oil, biofuels, GTL, CTL)

  4. Long Term Price Scenarios $150?? OIL PRICE $/BO VOLATILITY STABILITY $80 GAS PRICE $/BOE GAS PRICE $/BOE $40

  5. A journey towards the blue waters (where the big fish roam!!)

  6. Blue water, big fishes

  7. Pre salt source, post salt reservoirs Source: F. Nepomuceno, 2008 Petrobras

  8. Campos Basin Post Salt Giant Fields Source: F. Nepomuceno, 2008 Petrobras

  9. Steady and steep reserves growth OIL AND GAS RESERVES – SPE CRITERIA Onshore Shallow water (0-300m) Deep water (>300m)

  10. Steady oil production growth Petrobras Oil Production – kb/day

  11. Lower Aptian Paleogeography (122 m.y.)

  12. Pre Salt Reservoirs and Recent Analog Source: José Formigli, 2008, Petrobras

  13. Pre Salt: seeing and believing

  14. Pre salt source, pre salt reservoirs Source: F. Nepomuceno, 2008 Petrobras

  15. The Santos Basin Pre Salt Cluster PRE SALT DISCOVERIES OFFSHORE BRAZIL Source: O Globo Sept 25,08

  16. The Pre Salt Province Source: José Formigli, 2008, Petrobras

  17. Technologies • Technological Challenges • Reservoir characterization • Well Drilling and Completion • Well deviation in salt zones • CO2 resistant materials • Highly deviated wells • Subsea Engineering • WD: 2,200m and deeper • High Pressure, CO2 • Flow assurance and artificial lifting • Floating Production Units • Mooring • Interaction with risers • Direct access to wells (SPARS, other alternatives Source: José Formigli, 2008, Petrobras

  18. Logistics Challenge Source: José Formigli, 2008, Petrobras

  19. Supply Challenges... ...and Opportunities Petrobras Contracting Program Tendered To be tendered Total Large Ships Supply Boats Production Units (FPSO/SS) Other (JackUps, TLWP) TOTAL Source: José Gabrielli, 2008, Petrobras

  20. Petrobras Technological Programs The key to success

  21. Many Thanks!

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