Brazils Oil Riches: First found in peoples minds, again Presentation to the University of Houston C'

1
Brazils Oil RichesFirst found in peoples
minds, again Presentation 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 (gt300m)
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!