Table of Contents
1 Table of Contents 2
1.1 List of Tables 9
1.2 List of Figures 11
2 Introduction 12
2.1 What Is This Report About? 12
2.2 How To Use
This Report 12
2.3 Market Definition 12
3 Brazil, Country Snapshot
13
3.1 Brazil, Key Data 13
3.2 Brazil, Exploration And Production
Assets Map 14
3.3 Brazil, Crude Oil & Natural Gas Reserves 15
4
Brazil, Crude Oil And Natural Gas Production 17
4.1 Brazil, Historical
Crude Oil Production 17
4.2 Brazil, Historical Natural Gas Production
18
4.3 Brazil, Crude Oil And Natural Gas Producing Asset Details 19
4.4 Brazil, Crude Oil Production Assets by Area 21
4.5 Brazil, Natural Gas
Production Assets by Area 22
4.6 Brazil, Planned Production Assets Details
23
4.7 Brazil, Crude Oil Production by Company 26
4.8 Brazil, Natural
Gas Production by Company 27
5 Brazil, Crude Oil And Natural Gas Forecasts
28
5.1 Brazil, Forecasted Crude Oil Production 28
5.2 Brazil,
Forecasted Natural Gas Production 28
6 Brazil, Exploration Block Details
29
6.1 Brazil, Total Number of Active Exploration Blocks 29
6.2
Brazil, Total Number of Active Exploration Blocks by Company 30
6.3
Brazil, Exploration Blocks Details 31
7 Chevron Corporation 60
7.1
Chevron Corporation, Key Information 60
7.2 Chevron Corporation, Company
Overview 60
7.3 Chevron Corporation, Business Description 60
7.3.1
Chevron Corporation, Business Description, Business Overview 60
7.3.2
Chevron Corporation, Business Description, Chemicals 61
7.3.3 Chevron
Corporation, Business Description, Downstream Segment 62
7.3.4 Chevron
Corporation, Business Description, Others Segment 63
7.3.5 Chevron
Corporation, Business Description, Upstream Segment 64
7.3.6 Chevron
Corporation, Business Description, Major Products and Services 65
7.4
Chevron Corporation, VALUE CHAIN ANALYSIS 67
7.4.1 Chevron Corporation,
VALUE CHAIN ANALYSIS, Upstream 67
7.4.2 Chevron Corporation, VALUE CHAIN
ANALYSIS, Midstream 69
7.4.3 Chevron Corporation, VALUE CHAIN ANALYSIS,
Retail 69
7.4.4 Chevron Corporation, VALUE CHAIN ANALYSIS, Power
Generation 70
7.4.5 Chevron Corporation, VALUE CHAIN ANALYSIS,
Transformation 71
7.5 Chevron Corporation, SWOT Analysis 72
7.5.1
Chevron Corporation, SWOT Analysis, Overview 72
7.5.2 Chevron Corporation,
SWOT Analysis, Strengths 72
7.5.3 Chevron Corporation, SWOT Analysis,
Weaknesses 73
7.5.4 Chevron Corporation, SWOT Analysis, Opportunities
74
7.5.5 Chevron Corporation, SWOT Analysis, Threats 75
7.6 Chevron
Corporation, Revenue Analysis 76
7.6.1 Chevron Corporation, Revenue
Analysis, Revenue by Segment 77
7.6.2 Chevron Corporation, Revenue
Analysis, Revenue by Geography 77
7.7 Chevron Corporation, Financial and
Operational Review 78
7.7.1 Chevron Corporation, Financial and Operational
Review, Financial Statements 78
7.7.2 Chevron Corporation, Financial and
Operational Review, Financial Ratios 79
7.8 Chevron Corporation,
Operational Indicators 80
8 Petroleo Brasileiro S.A 81
8.1 Petroleo
Brasileiro S.A, Key Information 81
8.2 Petroleo Brasileiro S.A, Company
Overview 81
8.3 Petroleo Brasileiro S.A, Business Description 81
8.3.1
Petroleo Brasileiro S.A, Business Description, Business Overview 81
8.3.2
Petroleo Brasileiro S.A, Business Description, Distribution 81
8.3.3
Petroleo Brasileiro S.A, Business Description, Exploration and Production
82
8.3.4 Petroleo Brasileiro S.A, Business Description, Gas and Energy
84
8.3.5 Petroleo Brasileiro S.A, Business Description, International
85
8.3.6 Petroleo Brasileiro S.A, Business Description, Supply 86
8.3.7 Petroleo Brasileiro S.A, Business Description, Major Products and
Services 87
8.4 Petroleo Brasileiro S.A, VALUE CHAIN ANALYSIS 89
8.4.1
Petroleo Brasileiro S.A, VALUE CHAIN ANALYSIS, Upstream 89
8.4.2 Petroleo
Brasileiro S.A, VALUE CHAIN ANALYSIS, Midstream 91
8.4.3 Petroleo
Brasileiro S.A, VALUE CHAIN ANALYSIS, Downstream 91
8.4.4 Petroleo
Brasileiro S.A, VALUE CHAIN ANALYSIS, Retail 92
8.5 Petroleo Brasileiro
S.A, SWOT Analysis 92
8.5.1 Petroleo Brasileiro S.A, SWOT Analysis,
Overview 92
8.5.2 Petroleo Brasileiro S.A, SWOT Analysis, Strengths 93
8.5.3 Petroleo Brasileiro S.A, SWOT Analysis, Weaknesses 94
8.5.4 Petroleo
Brasileiro S.A, SWOT Analysis, Opportunities 95
8.5.5 Petroleo Brasileiro
S.A, SWOT Analysis, Threats 95
8.6 Petroleo Brasileiro S.A, Revenue
Analysis 96
8.6.1 Petroleo Brasileiro S.A, Revenue Analysis, Revenue by
Segment 96
8.6.2 Petroleo Brasileiro S.A, Revenue Analysis, Revenue by
Geography 96
8.7 Petroleo Brasileiro S.A, Financial and Operational Review
97
8.7.1 Petroleo Brasileiro S.A, Financial and Operational Review,
Financial Statements 97
8.7.2 Petroleo Brasileiro S.A, Financial and
Operational Review, Financial Ratios 98
8.8 Petroleo Brasileiro S.A,
Operational Indicators 99
9 Brazil Exploration and Production Industry,
Financial Deals Landscape 100
9.1 Acquisition 100
9.1.1 Soros Fund
Management Acquires Majority Stake In Petroleo Brasileiro 100
9.1.2 Petro
Vista Energy Acquires Petro Vista Energy Petroleo do Brasil From Petro Latina
Energy 101
9.1.3 Lone Star Technologies Acquires 50% Interest In Apolo
Mecanica e Estruturas LTDA From Apolo 103
9.1.4 Novelis sells stake in
Brazil coke plant 104
9.1.5 Norsk Hydro Acquires EnCana subsidiary From
EnCana 107
9.1.6 EnCana To Sell Its Interest In Brazil To Videocon
Industries And Bharat PetroResources 109
9.1.7 Texada Capital To Acquire
Petro Latina Do Brasil Exploracao e Producao de Petroleo e Gas Natural
111
9.2 IPO 112
9.2.1 OGX Petroleo Completes IPO 112
9.2.2 Norse
Energy do Brasil Postpones Initial Public Offering 113
9.2.3 Petrobras
Plans For Public Offering 115
9.3 Partnership 115
9.3.1 Mitsui Forms
Joint Venture With Petroleo Brasileiro 115
9.3.2 Eni Forms A Joint Venture
With Petrobras 117
9.3.3 Petroleo Brasileiro Forms Joint Venture With
Energia Argentina And Repsol 118
9.3.4 ConocoPhillips Enters Into
Licensing Agreement with Petroleo Brasileiro For Delayed Coking Unit 120
9.4 Asset Transactions 121
9.4.1 Brownstone Acquires Stake In On-Shore
Blocks From Petro Vista 121
9.4.2 Park Place Energy Sells 51% Interest In
BrasAm Diamond Project 123
9.4.3 Eagle Star Petroleum And Partners
Acquires 30% Interest In Block Rec-T-166 124
9.4.4 SK Energy Acquires 30%
Interest In Oil Block In Brazil From Devon Energy 125
9.4.5 Ecopetrol,
Galp Energia And Petroleo Acquire 100% Interest In C-M-593 Block 127
9.4.6
Woodside Acquires 25% Interest In Exploration Blocks Of Repsol 129
9.4.7
Norse Energy Acquired 7.5% Participating Interest In The Bs-3 Project 130
9.4.8 Norse Energy Acquires 20% Interest On Sardinha Gas Field 131
9.4.9
BG Acquires Exploration Block BM-S-13 From El Paso 132
9.4.10 Anadarko
Petroleum Sells Its 25% Interest In Kaskida Unit To StatoilHydro 134
9.4.11 Petroleo Brasileiro To Acquire Stake In Two Oil And Gas Assets In
Brazil 135
9.4.12 Benchmark Energy To Acquire BrazAlta' s Espirito Santo
Blocks 137
10 Brazil Exploration and Production Industry, Recent
Developments 139
10.1 License Rounds 139
10.1.1 Sep 02, 2008: Brazil
To Decide 10th Round Of Oil E&P Concession Auctions On September 3, 2008
139
10.1.2 Jul 13, 2008: Brazil To Hold Two Auctions For Oil And Gas
Blocks In 2008 139
10.2 License Awards 140
10.2.1 Jun 26, 2008: OVL
Receives Approval To Invest In Trinidad & Tobago And Brazil Blocks 140
10.2.2 Mar 18, 2008: Perenco Announces Signature Of Brazil Deep Water
Exploration Licenses 140
10.3 Strategy and Business Expansion 140
10.3.1 Jul 03, 2008: Petrobras Revises Projects For New Business Plans 140
10.3.2 Jul 03, 2008: CNOOC Wants Petrobras' Help In Developing Offshore Oil
Reserve 141
10.3.3 Jul 02, 2008: Eni And Petrobras Renew Agreements For
Integrated, Strategic Upstream And Downstream Initiatives 142
10.3.4 Jul
01, 2008: Cupet And Petrobras To Enter Into Exploration Deal 142
10.3.5
Jun 27, 2008: SK Energy Aims At Six-Fold Increase In Oil, Gas Output 143
10.3.6 Jun 20, 2008: Mitsui, Petrobras To Begin $750 Million Drilling Project
143
10.3.7 Jun 12, 2008: Petrobras' Tupi Field To Produce 500,000 Bpd By
2020 144
10.3.8 May 30, 2008: Petrobras Moves Forward With Cuban Plans
144
10.3.9 May 20, 2008: Total Launches Its Second Nigerian Deepwater
Project 145
10.3.10 Apr 15, 2008: Petrobras To Begin Oil Production In
Nigeria 145
10.4 Recent Discoveries 145
10.4.1 Sep 03, 2008: Norse
Updates On BM-CAL-5 Block In Brazil 145
10.4.2 Aug 28, 2008: Petrobras
Discovers Oil At BC-60 Exploration Block In Campos Basin, Brazil 146
10.4.3 Aug 07, 2008: Petrobras Announces New Oil Accumulation Found In Santos
Basin, Brazil 146
10.4.4 Jul 14, 2008: Petrobras Makes A New Oil Discovery
In Espirito Santo Basin 146
10.4.5 Jul 10, 2008: Petrobras Finds Oil In
BT-POT-4 Land Block 147
10.4.6 Jul 04, 2008: Petrobras Announces Oil And
Gas Discovery In Gulf Of Mexico 147
10.4.7 Jul 02, 2008: Petrobras
Identifies Signs Of Huge Oil Deposits Close To Tupi Field 147
10.4.8 Jun
13, 2008: Repsol Discovers New Oil Field In Santos Basin, Brazil 148
10.4.9 Jun 12, 2008: Petrobras Discovers New Oil Accumulation In Pre-salt
Layer, Santos Basin 149
10.4.10 May 29, 2008: Petrobras Discovers Oil In
Santos Basin 149
10.4.11 May 26, 2008: Petrobras Announces Discovery Of
Hydrocarbons In Gulf Of Mexico Waters 149
10.4.12 May 21, 2008: Petrobras
Finds Oil In Santos Basin Pre-Salt Layer 150
10.4.13 May 14, 2008:
Eromanga Discovers Oil In Block 430, Sergipe Alagoas Basin, Brazil 150
10.4.14 May 05, 2008: Eni Announces Oil Discovery Offshore Angola 150
10.4.15 Apr 29, 2008: Petrobras Discovers Oil And Natural Gas Reserves In
Southern Brazil 151
10.5 Drilling and Production Updates 151
10.5.1
Sep 01, 2008: Petrobras Commences Production From Pre-Salt Layer In Jubarte
Field, Espirito Santo 151
10.5.2 Aug 06, 2008: Chevron To Pump Crude From
$2.8 Billion Offshore Project In Brazil By March 2009 152
10.5.3 Aug 01,
2008: Petrobras To Start Crude Production In Tupi Field By 1Q 2009 154
10.5.4 Jul 25, 2008: Petrobras' Biquara 1 Platform Starts Operating In Brazil
154
10.5.5 Jul 24, 2008: Production Of Up To 100,000 BOE/D From Brazil
Tupi Field By 2011 154
10.5.6 Jul 14, 2008: Petrobras Restarts Production
At Campos Basin Platforms 155
10.5.7 Jul 08, 2008: Norse Energy Drills
Copaiba Well In BM-CAL-5 Block, Camamu-Almada Basin, offshore Brazil 155
10.5.8 Jun 22, 2008: SK Energy To Raise Its Crude Production To 31,000 Bpd
156
10.5.9 Jun 19, 2008: Norse Energy Updates On BM-CAL-6 Block 156
10.5.10 May 14, 2008: Norse Energy Provides Operational Update In Brazil
156
10.5.11 May 08, 2008: Shell To Begin Production At Brazil BC-10 Oil
Block In 2009 156
10.5.12 May 06, 2008: StatoilHydro Updates On Sangos-1
Well 157
10.5.13 May 05, 2008: Petrobras To Begin Pumping Crude From Tupi
Field In 2009 158
10.5.14 Apr 16, 2008: Petrobras Provides Production
Update 158
10.5.15 Apr 14, 2008: Petrobras Clarifies On Discovery In The
Carioca Area 159
10.5.16 Apr 08, 2008: Norse Energy Updates On BM-CAL-6
Block 159
10.5.17 Apr 01, 2008: Petrobras Announces First Extra-Heavy Oil
Of Brazil 160
10.5.18 Mar 19, 2008: Petrobras' Oil And Gas Output For
February Increases By 2.3% 160
10.5.19 Mar 10, 2008: Petrobras To Delay
Production Start At Mexilhao Gas Field 161
10.6 Financial Announcements
161
10.6.1 May 12, 2008: Petrobras Reports Q1 2008 Results 161
10.7
Other Significant Developments 163
10.7.1 Sep 08, 2008: Argentina Likely
To Play Role In Developing Brazil' s Pre-Salt Oil Deposits 163
10.7.2 Aug
11, 2008: Brazil Close To Create New Firm For Pre-Salt Oil 163
10.7.3 Jul
28, 2008: Brazil To Review Rules For Tenth Auction Of Oil Exploration
Concessions In August 2008 164
10.7.4 Jul 24, 2008: Brazil, Trinidad And
Tobago To Cooperate In Energy Sector 164
10.7.5 Jul 10, 2008: Brazil To
Decide A New Model For Developing Pre-Salt Oil Deposits In 2009 165
10.7.6
Jul 01, 2008: Repsol To Spend $2 Billion In Carioca 165
10.7.7 Jun 27,
2008: Brazil To Establish Second State Run Energy Company To Manage Pre-Salt
Oil Output 165
10.7.8 Jun 26, 2008: Brazil Oil Reserves Will At Least
Triple, Says President 166
10.7.9 Jun 22, 2008: Petrobras Wants Brazil To
Change Laws Governing Oil Industry 168
10.7.10 May 30, 2008: Petrobras
Updates On Its Reserves 169
10.7.11 May 26, 2008: Petrobras To Spend $5
Billion In Developing Deep Water Oil Finds 170
10.7.12 May 23, 2008:
Petrobras Consortium Prepares Discovery Assessment Plan On New Oil Field Find
170
10.7.13 Apr 22, 2008: Brazil To Invest $72 Billion In Oil And Gas
Exploration Projects 171
10.7.14 Apr 17, 2008: Norse Energy Receives
Environmental License To Drill Wells In BM-CAL-5 Block 171
10.7.15 Apr
16, 2008: Cuba Postpones Crude Oil Strip Drilling To 2009 171
10.7.16 Apr
08, 2008: Petrobras Places $535 Million In Ecuador Investments On Hold 172
10.7.17 Apr 07, 2008: Petrobras To Invest $15 Billion On Overseas Oil Projects
172
10.8 New Contracts Announcements 173
10.8.1 Mar 14, 2008: OVL
Signs Concession Agreement For Two Exploration Blocks In Brazil 173
11
Appendix 174
11.1 Methodology 174
11.1.1 Coverage 175
11.1.2
Secondary Research 175
11.1.3 Primary Research 176
11.1.4 Forecasts
176
11.2 Key Economic Assumptions 178
11.3 Expert Panel Validation
179
11.4 Definitions 179
11.5 Unit of Measure 180
11.6 Contact Us
181
11.7 About Global Markets Direct 181
11.8 Disclaimer 181
1.1 List of Tables
Table 1: Brazil, Oil and Gas, Key Statistics, April
2008 13
Table 2: Brazil, Total Crude Oil and Natural Gas Reserves(MMBOE),
2000-2012 16
Table 3: Brazil, Total Crude Oil Production (MMBBLs),
2000-2007 17
Table 4: Brazil, Total Natural Gas Production (BCF),
2000-2007 18
Table 5: Brazil, Oil and Gas Asset Details, April 2008 19
Table 6: Brazil, Oil and Gas Asset Details, April 2008 (Cont' d) 20
Table
7: Brazil, Oil and Gas Asset Details, April 2008 (Cont' d) 21
Table 8:
Brazil Offshore, Total Crude Oil Production (Barrels), by Assets, 2000-2007
21
Table 9: Brazil Offshore, Total Crude Oil Production (Barrels), by
Assets, 2000-2007 22
Table 10: Brazil Offshore, Total Natural Gas
Production (MMCF), by Assets, 2000-2007 22
Table 11: Brazil Onshore, Total
Natural Gas Production (MMCF), by Assets, 2000-2007 23
Table 12: Brazil,
Oil and Gas Planned Asset Details, April 2008 23
Table 13: Brazil, Oil and
Gas Planned Asset Details, April 2008 (Cont' d) 24
Table 14: Brazil, Oil
and Gas Planned Asset Details, April 2008 (Cont' d) 25
Table 15: Brazil,
Oil and Gas Planned Asset Details, April 2008 (Cont' d) 26
Table 16:
Brazil, Total Crude Oil Production (MMBBLs), by Company, 2000-2007 26
Table 17: Brazil, Total Natural Gas Production (BCF), by Company, 2000-2007
27
Table 18: Brazil, Total Crude Oil Production (MMBBLs), Forecast,
2008-2013 28
Table 19: Kazakhstan, Total Natural Gas Production (BCF),
Forecast, 2008-2013 28
Table 20: Brazil, Total Number of Active
Exploration Blocks, 2000-2007 29
Table 21: Brazil, Total Number of Active
Exploration Blocks By Company, 2000-2007 30
Table 22: Brazil, Total Number
of Active Exploration Blocks By Company, 2000-2007 (Cont' d) 31
Table 23:
Brazil, Oil and Gas Exploration Blocks Details, April 2008 31
Table 24:
Brazil, Oil and Gas Exploration Blocks Details, April 2008 (Cont' d) 32
Table 25: Brazil, Oil and Gas Exploration Blocks Details, April 2008 (Cont' d)
33
Table 26: Brazil, Oil and Gas Exploration Blocks Details, April 2008
(Cont' d) 34
Table 27: Brazil, Oil and Gas Exploration Blocks Details,
April 2008 (Cont' d) 35
Table 28: Brazil, Oil and Gas Exploration Blocks
Details, April 2008 (Cont' d) 36
Table 29: Brazil, Oil and Gas Exploration
Blocks Details, April 2008 (Cont' d) 37
Table 30: Brazil, Oil and Gas
Exploration Blocks Details, April 2008 (Cont' d) 38
Table 31: Brazil, Oil
and Gas Exploration Blocks Details, April 2008 (Cont' d) 39
Table 32:
Brazil, Oil and Gas Exploration Blocks Details, April 2008 (Cont' d) 40
Table 33: Brazil, Oil and Gas Exploration Blocks Details, April 2008 (Cont' d)
41
Table 34: Brazil, Oil and Gas Exploration Blocks Details, April 2008
(Cont' d) 42
Table 35: Brazil, Oil and Gas Exploration Blocks Details,
April 2008 (Cont' d) 43
Table 36: Brazil, Oil and Gas Exploration Blocks
Details, April 2008 (Cont' d) 44
Table 37: Brazil, Oil and Gas Exploration
Blocks Details, April 2008 (Cont' d) 45
Table 38: Brazil, Oil and Gas
Exploration Blocks Details, April 2008 (Cont' d) 46
Table 39: Brazil, Oil
and Gas Exploration Blocks Details, April 2008 (Cont' d) 47
Table 40:
Brazil, Oil and Gas Exploration Blocks Details, April 2008 (Cont' d) 48
Table 41: Brazil, Oil and Gas Exploration Blocks Details, April 2008 (Cont' d)
49
Table 42: Brazil, Oil and Gas Exploration Blocks Details, April 2008
(Cont' d) 50
Table 43: Brazil, Oil and Gas Exploration Blocks Details,
April 2008 (Cont' d) 51
Table 44: Brazil, Oil and Gas Exploration Blocks
Details, April 2008 (Cont' d) 52
Table 45: Brazil, Oil and Gas Exploration
Blocks Details, April 2008 (Cont' d) 53
Table 46: Brazil, Oil and Gas
Exploration Blocks Details, April 2008 (Cont' d) 54
Table 47: Brazil, Oil
and Gas Exploration Blocks Details, April 2008 (Cont' d) 55
Table 48:
Brazil, Oil and Gas Exploration Blocks Details, April 2008 (Cont' d) 56
Table 49: Brazil, Oil and Gas Exploration Blocks Details, April 2008 (Cont' d)
57
Table 50: Brazil, Oil and Gas Exploration Blocks Details, April 2008
(Cont' d) 58
Table 51: Brazil, Oil and Gas Exploration Blocks Details,
April 2008 (Cont' d) 59
Table 52: Chevron Corporation,Key Facts, 2007
60
Table 53: Chevron Corporation, SWOT Analysis , 2007 72
Table
54: Chevron Corporation, Revenue by Segment, USD Million, 2003-2007
77
Table 55: Chevron Corporation, Revenue by Geography, USD Million,
2003-2007 77
Table 56: Chevron Corporation, Financial Statements, USD
Million, 2003-2007 78
Table 57: Chevron Corporation, Financial
Ratios, USD Million, 2003-2007 79
Table 58: Chevron Corporation
Operational Indicators, 2003-2007 80
Table 59: Petroleo Brasileiro
S.A.,Key Facts, 2007 81
Table 60: Petroleo Brasileiro S.A., SWOT
Analysis , 2007 93
Table 61: Petroleo Brasileiro S.A., Revenue by
Segment, USD Million, 2003-2007 96
Table 62: Petroleo Brasileiro
S.A., Revenue by Geography, USD Million, 2003-2007 97
Table 63:
Petroleo Brasileiro S.A., Financial Statements, USD Million, 2003-2007 97
Table 64: Petroleo Brasileiro S.A., Financial Ratios, USD Million,
2003-2007 98
Table 65: Petroleo Brasileiro S.A. Operational
Indicators, 2003-2007 99
Table 66: Brent Blend NYMEX Future Prices 178
1.2 List of Figures
Figure 1: Brazil, Exploration and Production
Assets Map, April 2008 14
Figure 2: Brazil, Total Crude Oil and
Natural Gas Reserves(MMBOE), 2000-2012 15
Figure 3: Brazil, Total Crude
Oil Production (MMBBLs), 2000-2007 17
Figure 4: Brazil, Total Natural Gas
Production (BCF), 2000-2007 18
Figure 5: Brazil, Total Number of
Active Exploration Blocks, 2000-2007 29
Figure 6: Chevron
Corporation, Value Chain Analysis 67
Figure 7: Petroleo Brasileiro
S.A., Value Chain Analysis 89
Figure 8: Global Markets Direct
Methodology 174
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