Brazil Oil and Gas Upstream Market - Growth, Trends, and Forecasts (2020 - 2025)

The Brazil Oil and Gas Upstream Market is segmented by Location (Onshore and Offshore)

Market Snapshot

Study Period:

2018-2025

Base Year:

2019

CAGR:

4 %

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Market Overview

The Brazilian oil and gas upstream market is expected to record a CAGR of over 4% in the forecast period of 2020-2025. Factors, such as the reduction in the cost of the offshore drilling rigs and increasing exploration and production activities, are expected to drive the Brazilian oil and gas upstream market in the forecast period. However, volatile oil prices are expected to have some amount of negative impact on the Brazilian oil and gas upstream market in the forecast period.

  • The offshore segment held a significant market share in 2018, and it is likely to dominate the market during the forecast period.
  • The Brazilian government has a target to be in the world's top five oil and gas producers and increase its exports by a significant amount. This is expected to hype the market and is likely to create several opportunities in the future.
  • Increasing deep-water activities offshore is likely to drive the Brazilian oil and gas upstream market in the forecast period.

Scope of the report

The Brazilian oil and gas upstream market report include:

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Key Market Trends

Offshore Segment to Dominate the Market

  • The deep-water and ultra-deep-water activities directly influence the Brazilian oil and gas upstream market in the offshore. After oil prices fell in 2014, many countries shifted toward onshore projects. Still, it turned out that the return investment period of onshore projects is 10 to 15 years. So, Brazil started deep-water and ultra-deep-water explorations, which are more profitable, having a return investment period of 5 to 6 years and this factor has helped the Brazilian oil and gas upstream market grow.
  • According to the National Agency of Petroleum, Natural Gas, and Biofuels (ANP), in 2019, out of the total oil and gas production in the country, 93% is offshore, and only 7 % is from the onshore. This is expected to drive the Brazilian oil and gas upstream market in the forecast period.
  • In 2018, Brazil was the 10th largest producer of oil and gas in the world, the largest producer in South America, and 7th largest oil products consumer in the world. Most of the oil and gas are produced offshore, which is expected to drive the Brazil oil and gas upstream market in the forecast period.
  • Equinor ASA is in the second phase of the development of its Peregrino Oil field in Brazil offshore. Equinor is expecting to invest USD 3.5 billion on the project, which will start production by the end of 2020.
  • Therefore, activities in offshore are likely to increase and have a positive impact on the Brazil oil and gas upstream market in the forecast period.

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Deep Water Activities to Drive the Market

  • Deep-Water projects in the past decade have dominated the offshore brazil oil and gas upstream and are likely to dominate the market in the forecast period. Since 56% of the oil and gas of Brazil come from deep-water activities and 37% from shallow water, so Deep-water is expected to dominate the brazil oil and gas upstream market in the forecast period.
  • In 2014, the total oil production of Brazil was 122.5 million tons (MT), which kept on increasing for the coming years.
  • Libra oil field in Santos Basin in Brazil is an ultra-deep-water basin, is the largest oil field in Brazil, is under development phase, and is expected to complete in 2021. This is likely to have a positive impact on the brazil oil and gas upstream market in the forecast period.
  • Petróleo Brasileiro S.A. (Petrobras)in 2019 has awarded MODEC to install the fifth Floating, Production, and Storage Offshore (FPSO) Unit in Buzios field for its development. These development activities are likely to drive the brazil oil and gas upstream market in the forecast period. 
  • Hence, the above points indicate that deep-water activities are expected to drive the brazil oil and gas upstream market in the forecast period.

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Competitive Landscape

The Brazilian oil and gas upstream market is moderately consolidated. Some of key players in this market include Petroleo Brasileiro S.A. Petrobras Preference Shares, Exxon Mobil Corporation, B.P. plc, Royal Dutch Shell Plc, and Total SA.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Brazil Oil and Gas Production Forecast, till 2025

    3. 4.3 Brazil Oil and Gas Consumption Forecast, till 2025

    4. 4.4 Recent Trends and Developments

    5. 4.5 Government Policies and Regulations

    6. 4.6 Market Dynamics

      1. 4.6.1 Drivers

      2. 4.6.2 Restraints

    7. 4.7 Supply Chain Analysis

    8. 4.8 PESTLE Analysis

    9. 4.9

  5. 5. MARKET SEGEMENTATION

    1. 5.1 Location

      1. 5.1.1 Onshore

      2. 5.1.2 Offshore

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers, Acquisitions, Collaboration and Joint Ventures

    2. 6.2 Strategies Adopted by Key Players

    3. 6.3 Company Profiles

      1. 6.3.1 Petroleo Brasileiro SA

      2. 6.3.2 Exxon Mobil Corporation

      3. 6.3.3 BP plc

      4. 6.3.4 Royal Dutch Shell Plc

      5. 6.3.5 Total SA

      6. 6.3.6 Equinor ASA

      7. 6.3.7 Enauta Participacoes SA

      8. 6.3.8 Murphy Oil Corporation

      9. 6.3.9 Chevron Corporation

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES and FUTURE TRENDS

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