DOCSLIB.ORG

Petrobras Domestic E&P Results and Perspectives

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Petrobras Domestic E&P Results and Perspectives Petrobras Domestic E&P Results and Perspectives Hugo Repsold Junior General Manager for Domestic E&P Strategy and Portfolio October, 2006 •The presentation may contain forecasts about future events. Such forecasts merely reflect the expectations of the Company's 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. 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. 2 CorporateCorporate TargetsTargets OverviewOverview 3 DomesticDomestic E&PE&P StrategyStrategy • Increase production and reserves Strengthen expertise in deep and ultra-deep waters; Perform on-shore and in shallow water fields focusing on profitable opportunities; Implement practices and new technologies in areas with high exploitation degree in order to optimize recovery factor; Develop exploratory efforts in new frontiers in order to assure a sustainable reserve / production ratio; Guarantee a sustainable self-sufficiency in the long term; Optimize development of proven reserves prioritizing on increasing production of light oil and a minimum R/P ratio of 15 years; Maximize and accelerate gas production and supply from E&P. • Perform with operational excellence and social and environmental responsibility 4 DomesticDomestic E&PE&P OperationsOperations Reserves (at December 31, 2005) • Proven reserves of 13.23 billion boe (SPE) or 10.58 billion boe (SEC) • Reserve life of 19.7 years (SPE) and 15.7 (SEC) • Internal Reserve Replacement of 131.1% (SPE) and 101.3% (SEC) Production (2005) • 1,958 thousand boed (1,684 thousand bpd oil) • 5-year CAGR of 5.6% (5.8% oil) F&D Cost • US$ 3.45/boe (2003 – 2005) – SPE Lifting Cost • US$ 5.73/boe (2005) Petrobras & Partners Exploratory Area (Nov/2005) Other Companies • 157.7 thousand km2 (Petrobras + Partners) • 153.4 thousand km2 (other Companies) Total: 311.1 thousand km2. 5 OilOil andand GasGas ProvenProven RReserveseserves andand ProductionProduction PubliclyPublicly TradedTraded PeerPeer GroupGroup Proven Reserves SEC Criteria Production (billion boe) (million boed) ExxonMobil 22.4 ExxonMobil 4.1 Lukoil 20.3 BP 4.0 Petrochina 20.0 ShellGroup(RD) 3.5 BP 17.6 Petrochina 2.9 Chevron 12.1 Total 2.4 ShellGroup (RD) 12.0 Chevron 2.4 Petrobras 11.8 Petrobras 2.2 Total 10.7 ConocoPhillips 2.0 ConocoPhillips 9.4 Lukoil 1.9 ENI 6.7 ENI 1.7 Repsol-YPF 3.2 Repsol-YPF 1.1 0 5 10 15 20 25 012345 Reserve Replacement Index (%) Petrochina 149% ExxonMobil 121% ConocoPhillips 100% BP 95% Petrobras 94% Lukoil 91% Total 87% Source: Evaluate Energy 2005 Shell 77% ENI 23% Chevron 13% -101%% Repsol-YPF -150 -100 -50 0 50 100 150 200 6 Proven Reserve Profile 7 Total Production – Oil & NGL and Natural Gas 7.5% p.y. Thousand boed 4,556 278 7.8% p.y. 3,493 742 185 2,403 383 724 2,217 2,036 2,020 101 96 551 85 94 133 163 289 161 168 274 250 265 2.812 2.374 1,880 1,684 1,540 1,493 2003 2004 2005 T ar get 2006 Target 2011 2015 For ecast Oi l and NGL - Br azi l Natural Gas - Brazil Oi l and NGL - I nter naci onal Natural Gas - Internacional 8 Brazilian production curve 2.600 2,368 2,374 2,195 690 1,979 2,061 2.100 1,880 Net Increase 1,684 1.600 1.100 600 + Thous. bpd Thous. 100 (154) (154) (326) (172) (508) (697) (400) (181) (897) 1,114 (189) (201) Accumulated (900) (217) Natural Decline (1.400) 2005 2006 2007 2008 2009 2010 2011 1,804 Total Production Accumulated Decline Annual Decline Gross Increase 9 Main Domestic Oil Production Projects 7 out of the 15 projects refer to after-2002 discoveries 2,600 AlbacoraAlbacora Leste Leste Thousand pbd P-50P-50 180,000180,000 bpdbpd ESS-130 RoncadorRoncador ESS-130 April/2006April/2006 Golfinho Mod III **** 2,374 P-52P-52 Golfinho Mod III **** 2,400 (FPSO) 180,000180,000 bpdbpd (FPSO) JubarteJubarte 100,000100,000 bpdbpd 20072007 Parque das FaseFase 1 1 20082008 Parque das P-34P-34 2,368 Conchas***Conchas*** Rio de Janeiro 60,00060,000 bpdbpd Rio de Janeiro Espadarte Mod II 100,000100,000 bpdbpd 2,200 Oct/2006Oct/2006 Espadarte Mod II 100,000100,000 bpdbpd 2,195 20112011 FPSOFPSO CapixabaCapixaba 20072007 Roncador GolfinhoGolfinho Mod. Mod. 11 FradeFrade Roncador P-55** 100,000100,000 bpdbpd 100,000100,000 bpdbpd P-55** 2,061 180,000 bpd 2,000 MayMay 20062006 20092009 180,000 bpd 1,979 MarlimMarlim Sul Sul 20112011 ModuleModule 22 JubarteJubarte Roncador Phase 2 Roncador P-51P-51 Phase 2 P-54 P-57 P-54 180,000180,000 bpdbpd P-57 180,000 bpd 1,800 1,880 180,000 bpd 20082008 180,000180,000 bpdbpd 20072007 20102010 PiranemaPiranema MarlimMarlim Leste Leste 20.00020.000 bpdbpd CidadeCidade de de VitóriaVitória P-53*P-53* 1,600 1,684 Dec.Dec. 20062006 GolfinhoGolfinho Mod. Mod. 22 100,000100,000 bpdbpd 180,000180,000 bpdbpd 20072007 20092009 1,400 2005 2006 2007 2008 2009 2010 2011 10 CorporateCorporate TargetsTargets CapitalCapital ExpendituresExpenditures andand CostsCosts 11 InvestmentInvestment PlanPlan Exploration 7.7 Production Development 33.0 2007-2011 2007-2011 Area Difference Difference (%) (BP 2006-10)* (BP 2007-11) E&P 25.0 40.7 15.7 63 Downstream 14.3 23.1 8.8 62 G&E 4.6 7.2 2.6 56 International 6.7 12.1 5.4 82 Distribution 0.9 2.2 1.3 131 Corporate 1.0 1.7 0.7 81 Total 52.4 87.1 34.7 66 The forecast indicates an annual investment average of US$ 17.4 billion between 2007 and 2011. (*) Obs.: US$ 52.4 related to the investments of the previous Plan regarding the 2007-2011 period, i.e. US$ 56.4 - 2006 investments + 2011 investments. 12 CompetitiveCompetitive CostCost StructureStructure 2003–2005 Average 2005 Lifting Costs1 Finding & Development Costs ($/boe) ($/boe) 16 15.14 15.06 10.00 9.39 14 8.00 12 6.80 9.62 10 5.88 6.00 5.73 5.54 5.08 8 7.55 7.04 6.81 6.07 4.00 6 2.76 4 2.00 2 0 0.00 Chevron Royal Total BP Petrobras Exxon Average Exxon Chevron Petrobras³ Royal BP Total Average Dutch/ Fina Elf Mobil Mobil Dutch/ Fina Elf Shell² Shell Notes: 1 Per company financials and J.S. Herold. Excludes corporate G&A 2 For the 2002–2004 period 3 Without government participation 13 DomesticDomestic LiftingLifting CostCost Lifting Costs and Government Take per Barrel 54,50 25,0 50 38,29 20,0 40 28,74 14.65 15,0 28,13 25,47 24,11 30 10.7 10,0 8.5 8,9 7.0 6.6 7.0 20 6,4 US$/boe 5,1 5,0 3,7 3,3 4,0 10 5,7 5,6 3,3 3,3 3,0 3,4 4,3 0,0 0 2000 2001 2002 2003 2004 2005 2011 Lifting Cost Government Take Brent Lifting costs expected to stabilize ♦ Production increases ♦ Technological enhancements ♦ Wells, platforms and plants automation ♦ Optimization of logistics, operations and administrative processes 14 Petrobras’ Drilling Rigs 2003 2004 2005 Total Total Brazil International Total Onshore 25 47 22 19 41 Offshore 41 43 42 4 46 Owned Rigs: 31 Total 66 90 64 23 87 Leased: 56 • Petrobras’ leasing contracts are long term, averaging a 5 years length; • In 2005, 18 offshore drilling rigs were owned by Petrobras; • In August 2005, Petrobras renovated 24 drilling rigs contracts. • In July 2006, Petrobras signed contracts worth R$ 10.5 billion for the charter of six drilling units: • 4 rigs will operate in water depths of up to 2,000 meters (seven-year term contract, renewable for further seven years); • 2 rigs will operate at depths down to 2,400 meters (units chartered for 5 years, renewable for the same period); • In September 2006, the Company contracted two ultra-deepwater rigs for its drilling operations in the Gulf of Mexico. The contracts have 5 and 6 years term. 15 RecentRecent ExplorationExploration EffortsEfforts andand ResultsResults 16 ExplorationExploration ActiActivitiesvities -- 1998/2005 1998/2005 wellswells && seismicseismic 611 exploration wells Espírito Santo Î 40 wells offshore Î 31% overall success ratio Campos Î 186 wells offshore Last year (2005) Î 55% Santos Î 65 wells offshore Other Basins Î 216 wells onshore 1998/2005 Î 104 wells offshore ~ 450,000 km 2D seismic ~ 92,240 km2 3D seismic 17 NumberNumber of of Concessions Concessions in in BrazilBrazil PetrobrasPetrobras ConcessionsConcessions OtherOther TotalTotal ConcessionsConcessions 100%100% ParnershipsParnerships Total Total CompaniesCompanies BrazilBrazil W.IW.I ExplorationExploration BlocksBlocks 59 59 66 66 125 125 218 218 343 343 ExplorationExploration EP´sEP´s 24 24 6 6 30 30 0 0 30 30 ProductionProduction 273 273 19 19 292 292 29 29 321 321 TotalTotal356356 91 91 447 447 247 247 694 694 Petrobras & Partners Other Companies 18 Petrobras’ Current Exploration Portfolio EXPLORATORYEXPLORATORY AREAAREA SantosSantos 22 157.7157.7 thousandthousand km km 39.439.4 milkm milkm22 CamposCampos Other (*) 13.1 mil km22 Pará Maranhão-Barreirinhas 13.1 mil km 4% 3% 25% Sergipe Alagoas 5% Potiguar-Ceará 6% 8% SantosSantos Bahia Sul 9% CamposCampos 6% 10% Espírito Santo Solimões 11% Espírito Santo 11% Espírito São Francisco Foz do Amazonas Espírito Santo OtherOther Basins Basins** Santo 10.110.1 mil mil km km22 Î 40 % of the concession areas in Campos, Espírito Santo e Santos basins.
Load more

Recommended publications
  • Climate and Energy Benchmark in Oil and Gas Insights Report
    Climate and Energy Benchmark in Oil and Gas Insights Report Partners XxxxContents Introduction 3 Five key findings 5 Key finding 1: Staying within 1.5°C means companies must 6 keep oil and gas in the ground Key finding 2: Smoke and mirrors: companies are deflecting 8 attention from their inaction and ineffective climate strategies Key finding 3: Greatest contributors to climate change show 11 limited recognition of emissions responsibility through targets and planning Key finding 4: Empty promises: companies’ capital 12 expenditure in low-carbon technologies not nearly enough Key finding 5:National oil companies: big emissions, 16 little transparency, virtually no accountability Ranking 19 Module Summaries 25 Module 1: Targets 25 Module 2: Material Investment 28 Module 3: Intangible Investment 31 Module 4: Sold Products 32 Module 5: Management 34 Module 6: Supplier Engagement 37 Module 7: Client Engagement 39 Module 8: Policy Engagement 41 Module 9: Business Model 43 CLIMATE AND ENERGY BENCHMARK IN OIL AND GAS - INSIGHTS REPORT 2 Introduction Our world needs a major decarbonisation and energy transformation to WBA’s Climate and Energy Benchmark measures and ranks the world’s prevent the climate crisis we’re facing and meet the Paris Agreement goal 100 most influential oil and gas companies on their low-carbon transition. of limiting global warming to 1.5°C. Without urgent climate action, we will The Oil and Gas Benchmark is the first comprehensive assessment experience more extreme weather events, rising sea levels and immense of companies in the oil and gas sector using the International Energy negative impacts on ecosystems.
    [Show full text]
  • National Oil Companies: Business Models, Challenges, and Emerging Trends
    Corporate Ownership & Control / Volume 11, Issue 1, 2013, Continued - 8 NATIONAL OIL COMPANIES: BUSINESS MODELS, CHALLENGES, AND EMERGING TRENDS Saud M. Al-Fattah* Abstract This paper provides an assessment and a review of the national oil companies' (NOCs) business models, challenges and opportunities, their strategies and emerging trends. The role of the national oil company (NOC) continues to evolve as the global energy landscape changes to reflect variations in demand, discovery of new ultra-deep water oil deposits, and national and geopolitical developments. NOCs, traditionally viewed as the custodians of their country's natural resources, have generally owned and managed the complete national oil and gas supply chain from upstream to downstream activities. In recent years, NOCs have emerged not only as joint venture partners globally with the major oil companies, but increasingly as competitors to the International Oil Companies (IOCs). Many NOCs are now more active in mergers and acquisitions (M&A), thereby increasing the number of NOCs seeking international upstream and downstream acquisition and asset targets. Keywords: National Oil Companies, Petroleum, Business and Operating Models * Saudi Aramco, and King Abdullah Petroleum Studies and Research Center (KAPSARC) E-mail: [email protected] Introduction historically have mainly operated in their home countries, although the evolving trend is that they are National oil companies (NOCs) are defined as those going international. Examples of NOCs include Saudi oil companies that have significant shares owned by Aramco (the largest integrated oil and gas company in their parent government, and whose missions are to the world), Kuwait Petroleum Corporation (KPC), work toward the interest of their country.
    [Show full text]
  • 2017 Corporate Responsibility Report
    2017 corporate responsibility report 2017 corporate responsibility report chevron in Nigeria human energy R chevron in Nigeria 1 2017 corporate responsibility report 2 chevron in Nigeria 2017 corporate responsibility report “We are the partner of choice not only for the goals we achieve but how we achieve them” At the heart of The Chevron Way is our vision … to be the global energy company most admired for its people, partnership and performance. We make this vision a reality by consistently putting our values into practice. The Chevron Way values distinguish us and guide our actions so that we get results the right way. Our values are diversity and inclusion, high performance, integrity and trust, partnership, protecting people and the environment. Cover photo credit: Marc Marriott Produced by: Policy, Government and Public Affairs (PGPA) Department, Chevron Nigeria Limited Design and Layout : Design and Reprographics Unit, Chevron Nigeria Limited chevron in Nigeria 3 2017 corporate responsibility report the chevron way explains who we are, what we do, what we believe and what we plan to accomplish 4 chevron in Nigeria 20172017 ccorporateorpporatee resresponsibilityponssibility reportreport table of contents message from the CMD 6 about chevron in nigeria 7 social investments 8 health 9 education 12 economic development 16 partnership initiatives in the niger delta 20 engaging stakeholders 26 our people 29 operating responsibly 35 nigerian content 41 awards 48 chevron in Nigeria 5 2017 corporate responsibility report of rapid change in the oil and gas industry, our focus remains on delivering that vision in an ethical and sustainable way. Our corporate responsibility focus areas are aligned with our business strategy of delivering industry-leading returns while developing high-value resource opportunities.
    [Show full text]
  • Latin American State Oil Companies and Climate
    LATIN AMERICAN STATE OIL COMPANIES AND CLIMATE CHANGE Decarbonization Strategies and Role in the Energy Transition Lisa Viscidi, Sarah Phillips, Paola Carvajal, and Carlos Sucre JUNE 2020 Authors • Lisa Viscidi, Director, Energy, Climate Change & Extractive Industries Program at the Inter-American Dialogue. • Sarah Phillips, Assistant, Energy, Climate Change & Extractive Industries Program at the Inter-American Dialogue. • Paola Carvajal, Consultant, Mining, Geothermal Energy and Hydrocarbons Cluster, Inter-American Development Bank. • Carlos Sucre, Extractives Specialist, Mining, Geothermal Energy and Hydrocarbons Cluster, Inter-American Development Bank. Acknowledgments We would like to thank Columbia University's Center on Global Energy Policy and Philippe Benoit, Adjunct Senior Research Scholar at the Center, for inviting us to participate in the workshop on engaging state-owned enterprises in climate action, a meeting which played an instrumental role in informing this report. We would also like to thank Nate Graham, Program Associate for the Inter-American Dialogue’s Energy, Climate Change & Extractive Industries Program, for his assistance. This report was made possible by support from the Inter-American Development Bank in collaboration with the Inter- American Dialogue’s Energy, Climate Change & Extractive Industries Program. The opinions expressed in this publication are those of the authors and do not necessarily reflect the views of the Inter- American Development Bank, its Board of Directors, or the countries they represent. The views contained herein also do not necessarily reflect the consensus views of the board, staff, and members of the Inter-American Dialogue or any of its partners, donors, and/or supporting institutions. First Edition Cover photo: Pxhere / CC0 Layout: Inter-American Dialogue Copyright © 2020 Inter-American Dialogue and Inter-American Development Bank.
    [Show full text]
  • Pride Drillships Awarded Contracts by BP, Petrobras
    D EPARTMENTS DRILLING & COMPLETION N EWS BP makes 15th discovery in ultra-deepwater Angola block Rowan jackup moving SONANGOL AND BP have announced west of Luanda, and reached 5,678 m TVD to Middle East to drill the Portia oil discovery in ultra-deepwater below sea level. This is the fourth discovery offshore Saudi Arabia Block 31, offshore Angola. Portia is the 15th in Block 31 where the exploration well has discovery that BP has drilled in Block 31. been drilled through salt to access the oil- ROWAN COMPANIES ’ Bob The well is approximately 7 km north of the bearing sandstone reservoir beneath. W ell Keller jackup has been awarded a Titania discovery . Portia was drilled in a test results confirmed the capacity of the three-year drilling contract, which water depth of 2,012 m, some 386 km north- reservoir to flow in excess of 5,000 bbl/day . includes an option for a fourth year, for work offshore Saudi Arabia. The Bob Keller recently concluded work Pride drillships in the Gulf of Mexico and is en route to the Middle East. It is expected awarded contracts to commence drilling operations during Q2 2008. Rowan re-entered by BP, Petrobras the Middle East market two years ago after a 25-year absence. This PRIDE INTERNATIONAL HAS contract expands its presence in the announced two multi-year contracts for area to nine jackups. two ultra-deepwater drillships. First, a five-year contract with a BP subsidiary Rowan also has announced a multi- will allow Pride to expand its deepwater well contract with McMoRan Oil & drilling operations and geographic reach Gas Corp that includes re-entering in deepwater drilling basins to the US the Blackbeard Prospect.
    [Show full text]
  • Shell in Brazil: Prospecting for the Future
    100 YEARS OF SHELL IN BRAZIL: PROSPECTING FOR THE FUTURE Presentation at the British Consulate in Rio de Janeiro March 11th Flavio Rodrigues Shell Brasil Petróleo Ltda. Copyright of INSERT COMPANY NAME HERE January 2013 1 DEFINITIONS AND CAUTIONARY NOTE The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this presentation “Shell”, “Shell group” and “Royal Dutch Shell” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. “Shell Brasil Petróleo Ltda”, ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this presentation refer to companies in which Royal Dutch Shell either directly or indirectly has control, by having either a majority of the voting rights or the right to exercise a controlling influence. The companies in which Shell has significant influence but not control are referred to as “associated companies” or “associates” and companies in which Shell has joint control are referred to as “jointly controlled entities”. In this presentation, associates and jointly controlled entities are also referred to as “equity- accounted investments”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest. This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell.
    [Show full text]
  • Climate and Energy Benchmark in Oil and Gas
    Climate and Energy Benchmark in Oil and Gas Total score ACT rating Ranking out of 100 performance, narrative and trend 1 Neste 57.4 / 100 8.1 / 20 B 2 Engie 56.9 / 100 7.9 / 20 B 3 Naturgy Energy 44.8 / 100 6.8 / 20 C 4 Eni 43.6 / 100 7.3 / 20 C 5 bp 42.9 / 100 6.0 / 20 C 6 Total 40.7 / 100 6.1 / 20 C 7 Repsol 38.1 / 100 5.0 / 20 C 8 Equinor 37.9 / 100 4.9 / 20 C 9 Galp Energia 36.4 / 100 4.3 / 20 C 10 Royal Dutch Shell 34.3 / 100 3.4 / 20 C 11 ENEOS Holdings 32.4 / 100 2.6 / 20 C 12 Origin Energy 29.3 / 100 7.3 / 20 D 13 Marathon Petroleum Corporation 24.8 / 100 4.4 / 20 D 14 BHP Group 22.1 / 100 4.3 / 20 D 15 Hellenic Petroleum 20.7 / 100 3.7 / 20 D 15 OMV 20.7 / 100 3.7 / 20 D Total score ACT rating Ranking out of 100 performance, narrative and trend 17 MOL Magyar Olajes Gazipari Nyrt 20.2 / 100 2.5 / 20 D 18 Ampol Limited 18.8 / 100 0.9 / 20 D 19 SK Innovation 18.6 / 100 2.8 / 20 D 19 YPF 18.6 / 100 2.8 / 20 D 21 Compania Espanola de Petroleos SAU (CEPSA) 17.9 / 100 2.5 / 20 D 22 CPC Corporation, Taiwan 17.6 / 100 2.4 / 20 D 23 Ecopetrol 17.4 / 100 2.3 / 20 D 24 Formosa Petrochemical Corp 17.1 / 100 2.2 / 20 D 24 Cosmo Energy Holdings 17.1 / 100 2.2 / 20 D 26 California Resources Corporation 16.9 / 100 2.1 / 20 D 26 Polski Koncern Naftowy Orlen (PKN Orlen) 16.9 / 100 2.1 / 20 D 28 Reliance Industries 16.7 / 100 1.0 / 20 D 29 Bharat Petroleum Corporation 16.0 / 100 1.7 / 20 D 30 Santos 15.7 / 100 1.6 / 20 D 30 Inpex 15.7 / 100 1.6 / 20 D 32 Saras 15.2 / 100 1.4 / 20 D 33 Qatar Petroleum 14.5 / 100 1.1 / 20 D 34 Varo Energy 12.4 / 100
    [Show full text]
  • Energy Roundtable
    Energy Roundtable Oil & Gas Outlook: Brazil, Angola, Mozambique and Mexico September 18, 2019 Norman Nadorff Bruno Belchior Francisco Mendez Alexandre Chequer Gonçalo Falcão Paulo Rage Introduction • Welcome to the second annual Brazil, Angola, Mexico & Mozambique (“BAMM”) Round Table. • These are four key countries in the oil and gas industry upon which our energy practice group expends much effort for our clients. • A lot has changed (both positively and negatively) in the prior year in the BAMM countries and our panelists will discuss those changes. • As the end of a decade approaches, we focus on the 20’s and whether they will likely be roaring or boring for the oil industry in each country. • There will be a Q&A session at the end. Please hold questions until then to assure we adequately cover the major BAMM issues. 2 BRAZIL O&G Figures and Prospects Different E&P Regimes Concession Regime Law 9,478/1997 (Petroleum Law). Applicable to all blocks other than the pre-salt and strategic areas. Open access through competitive bids, individually or in consortium / Farm-in and Farm-out Production Sharing Regime Law 12,351/2010 (PSA Law). Pre-Salt and strategic areas. Open access through competitive bids individually or in consortium (Petrobras has preferential rights to hold 30% PI and to be the Operator) / Direct Contracting of Petrobras / Farm- in and Farm-out. Transfer of Rights (“ToR”) Law No. 12,276/2010 (ToR Law). Created by the Brazilian Government for the capitalization of Petrobras - assigned E&P rights in pre-salt areas to Petrobras under very attractive government takes.
    [Show full text]
  • Upstream George Kirkland Vice Chairman and Executive Vice President Jay Johnson Senior Vice President Upstream
    Upstream George Kirkland Vice Chairman and Executive Vice President Jay Johnson Senior Vice President Upstream © 2014 Chevron Corporation A Strong Worldwide Portfolio 2013 Production By Region 728 MBOED 587 MBOED 1,000 North America Europe, Eurasia and Middle East 800 600 400 200 0 2017 Production By Region* 1,000 800 600 400 MBOED MBOED 592 690 200 Africa & Latin America Asia-Pacific 0 Current operations * Estimated production at $110/bbl © 2014 Chevron Corporation 2 Upstream Continues to Execute the Right Strategies Grow profitably in core areas and build new legacy positions . Achieve world-class operational excellence . Maximize and grow the base business . Lead industry in the selection and execution of major capital projects . Achieve superior exploration success . Commercialize equity gas resource base . Identify, capture and effectively incorporate new core Upstream businesses © 2014 Chevron Corporation 3 Themes Performance Portfolio Growth © 2014 Chevron Corporation 4 2013 Net Production Base decline < 3% Net Production: 2,597 Shale and tight resources MBOED % delivered > 15 growth Base Performance Shale Major 2,610 Base* 2,597 & Tight Capital Key 2013 Startups: Projects . ALNG (49) 25 11 . Papa-Terra 2012 2013 Actual Actual @ $ @ $ 112/bbl 109/bbl * Includes decline, divestments, cost recovery and price effects © 2014 Chevron Corporation 5 2017 Production Growth Update Contractual Projected Net Production in 2017 price effects MBOED . $79 to $110 Price Effects U.S. Gas Value decisions 3,300 Asset Asset Project Slowdown Future Sales Adds Delays . Reduced U.S. Uncertainties (55) 3,150 gas investment (45) 3,100 (35) 35 (50) . Increased 2017 (50) Revised Outlook 2017 asset sales in 2013 Outlook .
    [Show full text]
  • 2015 Corporate Responsibility Report: Chevron Latin America
    chevron latin america exploration and production 2015 corporate responsibility report content 1 Message from our Managing Director 2 Our Business in Latin America the chevron way explains 4 who we are, what we do, Operational Excellence what we believe achieving and sustaining world-class performance and what we plan to 8 Protecting People and the Environment accomplish getting results the right way At the heart of The Chevron Way is our vision … 12 Economic Development to be the global energy empowering women and creating prosperity company most admired for its people, partnership and performance. 16 Education and Training We make this vision a reality by consistently increasing technical skills and building confidence putting our values into practice. The Chevron Way values distinguish us and 20 guide our actions so that we get results the Health right way. bringing care, compassion and smiles Our values are integrity, trust, diversity, 24 ingenuity, partnership, protecting Diversity people and the environment, improving the future for indigenous people and high performance. 28 Performance Data improving lives across Latin America www.chevron.com/about/the-chevron-way On the cover: The image shows the hands of a Warao artisan woman, making handicrafts with raw moriche, a natural fiber that grows in the Orinoco Delta in Venezuela. The Weaving Hopes project strengthens the existing skills of the indigenous Warao people and encourages handicraft business development that promotes Warao culture and ancestral heritage. In 2015, more than 2,000 products were sold, helping the community grow a sustainable economy. message from our managing director Geoff Strong, Managing Director of Chevron Latin America Exploration and Production We have had the privilege of conducting business in Latin America This report contains highlights of our social investments that since the 1920s and have grown to understand and appreciate the benefited more than two million people from 2012-2015.
    [Show full text]
  • United States Department of the Interior Minerals Management Service
    CODETAIL UNITED STATES DEPARTMENT OF THE INTERIOR COMPANY MINERALS MANAGEMENT SERVICE 01-OCT-2021 PACIFIC OCS REGION PAGE: 1 Company Details Orders : COMPANY Companies: ALL Bonds : ALL 10th OCS Oil and Gas Lease Sale 00087 DEC/QUAL : 09-OCT-1962 Term Date : 09-OCT-1962 Regns : G 11th OCS Oil and Gas Lease Sale Zone 3 00100 DEC/QUAL : 28-APR-1964 Term Date : 28-APR-1964 Regns : G 12th OCS Oil and Gas Sale Zone 2 00118 DEC/QUAL : 01-JAN-1947 Term Date : 14-OCT-1968 Regns : G 1400 CORP. 00622 DEC/QUAL : 10-DEC-1980 Term Date : 22-APR-1982 Regns : P 145 OG HOLDINGS, LLC 03267 4514 Cole Ave. DEC/QUAL : 07-NOV-2012 Suite 600 Term Date : Dallas, TX 75205 Regns : PAYG * * * * * * UNCLASSIFIED * * * * * * CODETAIL UNITED STATES DEPARTMENT OF THE INTERIOR COMPANY MINERALS MANAGEMENT SERVICE 01-OCT-2021 PACIFIC OCS REGION PAGE: 2 Company Details Orders : COMPANY Companies: ALL Bonds : ALL 157 OG Holdings, LLC 03271 4514 Cole Avenue DEC/QUAL : 21-DEC-2012 Suite 600 Term Date : Dallas, TX 75205 Regns : PAYG 1982 Drilling Program 00830 Box 6629 DEC/QUAL : 14-NOV-1983 San Antonio, TX 78209 Term Date : 19-JUL-1988 Regns : P 1986 STEA Limited Partnership I 01145 1221 Lamar, Suite 1600 DEC/QUAL : 19-JUN-1987 Houston, TX 77010 Term Date : 19-SEP-1997 Regns : G 1987-I STEA Limited Partnership 01253 1221 Lamar, Suite 1600 DEC/QUAL : 24-MAR-1988 Houston, TX 77010 Term Date : 19-SEP-1997 Regns : G 1987-VI STEA Limited Partnership 01252 1221 Lamar, Suite 1600 DEC/QUAL : 24-MAR-1988 Houston, TX 77010 Term Date : 19-SEP-1997 Regns : G * * * * * * UNCLASSIFIED * * * * * * CODETAIL UNITED STATES DEPARTMENT OF THE INTERIOR COMPANY MINERALS MANAGEMENT SERVICE 01-OCT-2021 PACIFIC OCS REGION PAGE: 3 Company Details Orders : COMPANY Companies: ALL Bonds : ALL 1988-I TEAI Limited Partnership 01470 c/o Torch Energy Assoc.
    [Show full text]
  • Petrobras on Divestment in the Espírito Santo Basin —
    Petrobras on divestment in the Espírito Santo Basin — Rio de Janeiro, June 10, 2020 - Petróleo Brasileiro S.A. – Petrobras, in reference to the press released on 06/01/2020, regarding the sale of a part of its interest in the exploratory blocks belonging to the ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11 and ES-M-743_R11 concessions, located in the Espírito Santo Basin, hereby discloses to the interested parties that the deadline for companies to express their interest in the opportunity is being extended to 06/18/2020, the other provisions of the document remaining unchanged. Due to the change described above, the teaser available on Petrobras website (https://www.investidorpetrobras.com.br/en/results-and-notices/teasers) was changed to consider the new deadline. There is no need to send a new expression of interest if the participating company has already submitted its expression. The main subsequent stages of the project will be reported to the market in due course. This disclosure complies with the Petrobras' divestment guidelines and with the provisions of the special procedure for assignment of rights to exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018. This transaction is in line with the portfolio optimization and the improvement of the company’s capital allocation, aiming at maximizing value for its shareholders. About the concessions The concessions ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11 and ES-M-743_R11 were acquired in the ANP's 11th Bidding Round in 2013 and are currently in the 1st Exploration Period.
    [Show full text]