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This presentation by Renato T. Bertani at the University of Houston discusses Brazil's significant oil reserves and their implications for global energy management. It highlights the current energy matrix dominated by fossil fuels and explores the potential of pre-salt reservoirs in the Santos Basin. The presentation delves into technological challenges, supply opportunities, and future price scenarios, emphasizing the importance of innovation and strategic management in harnessing Brazil's oil wealth for sustainable energy solutions.
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Brazil’s Oil Riches:First found in people’s minds, againPresentation to the University of HoustonC. T. Bauer College of BusinessGlobal Energy Management Institute Renato T Bertani October 2008
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
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)
Long Term Price Scenarios $150?? OIL PRICE $/BO VOLATILITY STABILITY $80 GAS PRICE $/BOE GAS PRICE $/BOE $40
A journey towards the blue waters (where the big fish roam!!)
Pre salt source, post salt reservoirs Source: F. Nepomuceno, 2008 Petrobras
Campos Basin Post Salt Giant Fields Source: F. Nepomuceno, 2008 Petrobras
Steady and steep reserves growth OIL AND GAS RESERVES – SPE CRITERIA Onshore Shallow water (0-300m) Deep water (>300m)
Steady oil production growth Petrobras Oil Production – kb/day
Pre Salt Reservoirs and Recent Analog Source: José Formigli, 2008, Petrobras
Pre salt source, pre salt reservoirs Source: F. Nepomuceno, 2008 Petrobras
The Santos Basin Pre Salt Cluster PRE SALT DISCOVERIES OFFSHORE BRAZIL Source: O Globo Sept 25,08
The Pre Salt Province Source: José Formigli, 2008, Petrobras
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
Logistics Challenge Source: José Formigli, 2008, Petrobras
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
Petrobras Technological Programs The key to success