Brazil Subsea Market

Brazil's offshore industry is expanding rapidly

Brazil is about to become a much bigger player in the oil and gas world. The South American country is leading the world in terms of planned offshore projects, ahead of the likes of the U.S. and the U.K. All the East Margin besides the pre-salt region and Equatorial Margin, including new frontier areas and a significant number of large mature fields are conventional offshore in Brazil. Brazil, in the next four years, shall be the largest offshore market in the world. There is potential to contract more than 30 productions units in the next ten years Brazil is one of the World's hottest oil plays, home to the largest offshore oil discoveries in the last decade with 54%. The conventional offshore plays comprise other opportunities beyond the pre-salt that runs along the entire Brazilian coast, from the Foz do Amazonas basin to the Pelotas Basin.  These are post-salt reservoirs, which are found in the East and equatorial margins. In 2017 these reservoirs contributed around 44% of Brazilian production. One of the main reasons behind Brazil’s offshore boom is the pre-salt, a sequence of sedimentary rocks formed more than 100 million years ago, in a space created by the separation of the ancient continent of Gondwana. The pre-salt is one of the best exploration plays in the world, with the largest offshore discoveries of the last decade. The Brazilian East Margin Basins holds great potential. Santos and Campos basins, both of them included in the upcoming bidding rounds, are responsible for around 88% of the current Brazilian production (data from November 2017). A pre-salt field produces, on average, over 30,000 thousand barrels of oil per day at the beginning of its life cycle. In 2017, around 80 wells already account for about half of the Brazilian production. As an example, a single pre-salt well produces as much as the entire State of Bahia, a traditional oil producer, with more than 1,300 wells (~33 thousand oil barrels per day) and corresponds to one and a half times the total production of the Potiguar Basin, with around 4.000 wells (~45 thousand oil barrels per day). The area which has the potential for oil in the pre-salt layer is approximately 800 km in length and 200 km in width and is located off the coast between the states of Santa Catarina and Espirito Santo. The total area of the pre-salt province is 149,000 square kilometers, an area almost three and a half times the size of the state of Ro de Janeiro. Brazil is also leading the way in terms of capital investment over the same period. There will be $116.2 billion worth of investment up until 2025. Petrobas, the state-owned oil company in Brazil, is forecasted to spend $90.9 billion on projects over the next 10 years. The conventional offshore plays comprises other opportunities beyond the pre-salt that runs along the entire Brazilian coast, from the Foz do Amazonas basin to the Pelotas basin. 

Increasing automation in subsea systems

• Increasing automation in subsea systems across the oil & gas processing industry opens up myriad opportunities for the industry participants as well as for the automation industry.
• The role of advanced automation technology in subsea systems is to optimize operational and business results by increasing productivity, improving reliability, enhancing operator effectiveness, and improving life cycle maintenance cost and efficiency. 

Huge Investments in oil and gas industry

• Huge investments in the oil and gas industry especially for offshore industry is the major opportunity for market growth.
• Brazilian oil and gas blocks in the pre-salt polygon in the Campos and Santos basins will receive at least 560bn reais (US$134bn) in investments between now and 2032.

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