Brazil Offshore Oil & Gas Upstream Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Brazil Offshore Oil & Gas Upstream Market Analysis
The offshore brazil oil and gas upstream market is expected to grow at a CAGR of over 4% in the forecast period of 2020-2025. Factor such as deep-water and ultra-deep-water exploration and production is likely to drive offshore brazil oil and gas upstream market in the forecast period. However, the volatile nature of crude oil prices is expected to have a negative impact on the offshore brazil oil and gas upstream market.
- The deep-water and ultra-deep-water segment held a significant market share in 2019, and it is likely to dominate the market during the forecast period.
- An increase in the development activities in Santos Basin, which is a deep-water basin is likely to create an ample amount of opportunities for offshore brazil oil and gas upstream players in the near future.
- Increasing oil and gas production from the offshore is likely to drive the brazil offshore oil and gas upstrem market during the forecast period.
Brazil Offshore Oil & Gas Upstream Market Trends
This section covers the major market trends shaping the Brazil Offshore Oil & Gas Upstream Market according to our research experts:
Deep-Water and Ultra Deep-Water Activities to Dominate the Market
- Deep-Water and Ultra Deep-Water projects in the past decade have dominated the offshore brazil oil and gas upstream and are likely to dominate the market during the forecast period as well. Since 56% of the oil and gas production of Brazil comes from deep-water and ultra deep-water activities, and 37% from shallow water, so deep-water and ultra deep-water segment expected to dominate the brazil offshore oil and gas upstream market during the forecast period.
- In 2018, the total oil production of Brazil was 140.3 million tons (MT) which was higher than what the country produced in 2015, 132.2 million tons (MT).
- Libra oil field in Santos Basin in Brazil is an ultra-deep-water basin, is the largest oil field in Brazil, is under development phase, and is expected to complete in 2021. This is likely to have a positive impact on the brazil offshore oil and gas upstream market in the forecast period.
- Petróleo Brasileiro S.A. (Petrobras) in 2019 has awarded MODEC to install the fifth Floating, Production, and Storage Offshore (FPSO) Unit in Buzios field for its development. These development activities are likely to drive the brazil offshore oil and gas upstream market in the forecast period.
- Hence, the above points indicate that deep-water and ultra deep-water activities are expected to dominate the brazil offshore oil and gas upstream market in the forecast period.
Increasing Offshore Oil and Gas Production Expected to Drive the Market
- After oil prices fall in 2014 many countries shifted towards onshore projects. Still, it turned out that the return on investment period of onshore projects are 10 to 15 years, so Brazil started deep-water and ultra-deep-water explorations which are more profitable having a return period of 5 to 6 years and are likely to drive the offshore brazil oil and gas upstream market in the forecast period.
- According to the National Agency of Petroleum, Natural Gas, and Biofuels (ANP), in 2019, out of the total oil and gas production in the country, 93% is from offshore, and only 7 % is produced from the onshore. This discovery is expected to drive the brazil offshore oil and gas upstream market in the forecast period.
- In 2018, Brazil was the 10th largest producer of oil and gas in the world, the largest producer in South America and the 7th largest oil products consumer in the world. The majority of the oil and gas are produced offshore, which is expected to drive the Brazil offshore oil and gas upstream market in the forecast period.
- Equinor ASA is in the second phase of the development of its Peregrino Oil field in Brazil offshore. Equinor is planning to invest USD 3.5 billion on the project, which will start production by the end of 2020.
- Therefore, owing to the above points, increasing production of oil and gas from the offshore is liklely to the brazil offshore oil and gas upstream market in the forecast period.
Brazil Offshore Oil & Gas Upstream Industry Overview
The Brazil offshore oil and gas upstream market is moderately consolidated. Some of the key players in this market include Petroleo Brasileiro SA Petrobras Preference Shares, Exxon Mobil Corporation, B.P. plc, Royal Dutch Shell Plc, and Total S.A.
Brazil Offshore Oil & Gas Upstream Market Leaders
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Petroleo Brasileiro S.A. Petrobras Preference Shares
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Exxon Mobil Corporation
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B.P. plc
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Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
Brazil Offshore Oil & Gas Upstream Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Brazil Offshore Crude Oil and Gas Production Forecast, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
- 4.7 PESTLE Analysis
5. MARKET SEGEMENTATION
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5.1 Depth
- 5.1.1 Shallow Water
- 5.1.2 Deep- Water and Ultra Deep-Water
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
- 6.2 Strategies Adopted by Key Players
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6.3 Company Profiles
- 6.3.1 Petroleo Brasileiro SA Petrobras Preference Shares
- 6.3.2 Exxon Mobil Corporation
- 6.3.3 BP plc
- 6.3.4 Royal Dutch Shell Plc
- 6.3.5 Total SA
- 6.3.6 Equinor ASA
- 6.3.7 Enauta Participacoes SA
- 6.3.8 Murphy Oil Corporation
- 6.3.9 Chevron Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES and FUTURE TRENDS
** Subject To AvailablityBrazil Offshore Oil & Gas Upstream Industry Segmentation
The Brazil offshore oil and gas upstream market report include:
Brazil Offshore Oil & Gas Upstream Market Research FAQs
What is the current Brazil Offshore Oil and Gas Upstream Market size?
The Brazil Offshore Oil and Gas Upstream Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Brazil Offshore Oil and Gas Upstream Market?
Petroleo Brasileiro S.A. Petrobras Preference Shares , Exxon Mobil Corporation , B.P. plc and Royal Dutch Shell Plc are the major companies operating in the Brazil Offshore Oil and Gas Upstream Market.
What years does this Brazil Offshore Oil and Gas Upstream Market cover?
The report covers the Brazil Offshore Oil and Gas Upstream Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Brazil Offshore Oil and Gas Upstream Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Brazil Offshore Oil & Gas Upstream Industry Report
Statistics for the 2024 Brazil Offshore Oil & Gas Upstream market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Brazil Offshore Oil & Gas Upstream analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
