Rio de Janeiro – Petrobras chairwoman Graça Foster said this Monday (2nd) that by 2035 Brazil will be the sixth largest oil producer in the world, with a 6.1% share of global production. She said that the forecast was made by the International Energy Agency, comprised of 29 countries.
“What is interesting is that these are all forecasts made by independent analysts, which have their own models,” added the chairwoman, in a lecture at the IV Seminar on Matrix and Brazilian Energy Security, organized by the Brazilian Institute of Economics (Ibre), to analyze the Brazilian energy matris, the perspectives and challenges of the sector.
Graça Foster said that in May this year, on average, the pre-salt accounted for 22% of what Petrobras has produced in the period, and production is growing. “In April, Brazil has produced an average of 411,000 barrels per day (bpd) in pre-salt layer oilfields, in the Santos and Campos basins. On May 11th, output reached a record high 470,000 bpd and we are very close to reaching 500,000 bpd. Today, looking back on production in 2010 and 2014, it has increased tenfold. Production increases every day and new pre-salt and post-salt interconnections are added a few times a month, and hence the production curve increases.
Up until 2013, Petrobras invested a total of US$ 20 billion in pre-salt layer exploration and production. “We are at a stage in which 52% of Brazil’s reserves, considering proved reserves and potentially recoverable volumes, are pre-salt reserves. We will produce close to 4.2 million barrels in 2020, a large amount from pre-salt, and, thus by 2018 we will have invested US$102 billion. This investment has already been decided and it is a commitment from Petrobras”, he said.
Studies show that the world energy will depend mainly on fossil fuels between 2011 and 2030, when oil will still be indisputably the most consumed source of energy. “As regards renewable sources, we have development, in special solar and wind power, but still, oil will be dominant in 2030”, said Graça Foster.
The chairwoman also championed the need for further investments in maritime industry’s productivity. She added that 12 power plants are being built in Brazil and two more are to be started. “This means that we will have oil to answer to our demand and most certainly Brazil will become an oil exporter”, she added.
*Translated by Rodrigo Mendonça