The National Agency of Petroleum, Natural Gas and Biofuels (ANP) predicts that, in 2024, investments in the exploration phase of oil and natural gas contracts will reach around R$10 billion (R$9.97 billion). The number is in the Annual Exploration Report 2023, published this Monday (2).
For the period 2024 to 2027, a total of R$18.31 billion in investments is expected. In 2025, the forecast is R$7.64 billion, while in 2026 and 2027, the estimated amount is R$701 million.
In the forecasts on the distribution of investments by activities between 2024 and 2027, 88% will be concentrated in well drilling (R$ 16.04 billion). The remaining 12% (R$ 2.27 billion) will be distributed between well testing (8%), exclusive geophysical survey (3%) and non-exclusive geophysical survey (1%).
Of the investments planned for 2024 alone, R$9.50 billion will be allocated to the offshore environment, with R$8.50 billion going to drilling wells. For the terrestrial environment, the forecast is R$470 million.
The ANP explains that the exploration phase begins with the signing of contracts for the exploration and production of oil and natural gas. During this phase, studies are carried out to detect the presence of these fuels in the areas under contract, called blocks, in sufficient quantities to make their extraction economically viable. If this stage is successful, companies can move on to the production phase, when they will begin production and the contracted area will be called a field.
2023 figures
The report also includes data from 2023. The year ended with 251 blocks under contract: 13 under the production sharing regime and 238 under the concession regime. Between 2022 and 2023, there was a drop of 44 blocks. The ANP explains that this reduction is due to the low number of contracts signed and the high number of blocks returned.
Regarding blocks under contract by environment, the onshore environment remained in the lead, with 151 blocks against 100 blocks in the offshore environment, of which 18 are located in the pre-salt layer. The onshore environment recorded the largest contracted area (52%), approximately 84 thousand km², and the offshore environment, 48% of the area under contract, approximately 77 thousand km².
The year saw 14 wells with discovery notifications on land and four at sea. Hydrocarbon traces were found only in wells drilled in the Santos and Campos basins, with two notifications each. Of the wells in onshore basins, nine were registered in new frontier basins: Amazonas (6) and Parnaíba (3). And five in mature basins: Espírito Santo (4) and Recôncavo (1).
