Please Wait.....
Report
Brazil Offshore Energy Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 95 Pages I Mordor Intelligence
The Brazilian offshore energy market is projected to register a CAGR of over 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.
Over the medium term, factors such as the new government policies for developing offshore renewable energy in the country are expected to drive the offshore energy market in the forecast period. On the other hand, the higher initial investment required in the offshore establishment is expected to restrain the growth of the offshore energy market.
Nevertheless, a growing number of government policies and research initiatives are targeting the exploitation of renewable energy resources in order to meet the increasing demand for electricity and diversify the power supply. In Brazil, tidal energy is an example of this, as it has significant potential and is concentrated mainly on the coasts of the different parts of the country. It offers significant growth opportunities for the offshore energy market players in the coming years.?
Brazil Offshore Energy Market Trends
The Oil and Gas Segment is Expected to Dominate the market
Offshore oil and gas production, which involves extracting oil and gas from the seabed, is one of the most important components of the world's energy supply. It requires the use of increasingly sophisticated technological methods and greater attention to environmental elements.
Brazil's exploration and production activity has shown significant growth during 2021, resulting in increased spending on oilfield services. The growth during the last year mainly came from the offshore sector. The increased spending on oilfield services can be related to increased drilling and completion practices. These are expected to drive the offshore energy market.
Brazil has several large-scale offshore upstream projects in the pipeline. The country is expected to contribute more than 20% of global offshore crude oil and condensate production by 2025. The majority of the production is expected to come from the Pao de Acucar in the Campos basin and Carcara fields.
As of June 2022, there are around 7 active rigs operating in the offshore areas and 3 active rigs in the onshore areas of the country. As of 2021, floating assets, such as Floating Production Storage and Offloading (FPSO), Drillships, semi-submersibles, and Floating Storage and Offloading (FSO), accounted for more than 80% of the active offshore platforms in the country. This, in turn, indicates the dominance of offshore floating assets in Brazil's upstream oil and gas industry.
Petrobras has plans to invest around USD 68 billion for the period 2022 to 2026. Of this total investment, 84% is allocated to the exploration and production (E&P) of oil and natural gas. Of the total E&P CAPEX (USD 57 billion), around 67% will be allocated to pre-salt assets. This indicates that the upstream oil and gas sector, especially the offshore oil and gas assets in Brazil, are expected to receive significant investment during the forecast period.
It has been observed that the production for oil in Brazil has increased significantly in recent years. In 2021, the country's total natural gas production reached 156.8 million tonnes, representing an increase of about 3.7% over 2019. In view of these factors, the ongoing investments and developments in offshore oil and gas industry in the country is expected to dominate the market during the forecast period.
Government Initiatives to Develop Offshore Renewable Energy
As reported by the national statistics agency and Central Bank, Brazil's GDP increased by 4.6% in 2021. This had a direct impact on electricity consumption, which increased by 4.1% from the previous year.
In Brazil, wind energy has seen virtuous growth in the last decade, jumping from 1.89 GW in 2012 to 21.16 GW by 2021. Currently, wind energy accounts for 11% of the country's electricity generation.
GWEC participated with ABEEolica in the development of a regulatory framework for offshore wind in Brazil in 2021, marking a milestone in the implementation of offshore wind in Brazil. By the beginning of 2022, the long-awaited Decree No. 10,946/2022 was published, providing for the transfer of physical spaces and the utilization of natural resources for offshore power generation. This document, which came into force in June 2022, provides a positive signal to the market to begin the process of developing the first offshore wind projects.
According to the Brazilian Institute of the Environment and Renewable Natural Resources (IBAMA), investors are now paying attention to Brazil, resulting in licensing requests for more than 80 GW of offshore wind projects. In Brazil, the technical resource potential is estimated to be more than 700 GW, according to Energy Expansion Plan (EPE) roadmap. Furthermore, EPE estimates that Brazil will reach 16 GW of offshore wind capacity by 2050, with a 20% reduction in capital expenditures.
In November 2022, as part of a memorandum of understanding (MoU), Prumo and TotalEnergies agreed to conduct studies for the installation of logistic bases to support offshore wind projects within the Acu port area of Rio de Janeiro, Brazil. In accordance with the agreement, TotalEnergies will conduct feasibility studies for offshore wind farms with capacities of up to 3 gigawatts in the immediate vicinity of the port over the next two years.
These government initiatives and developments are anticipated to drive the offshore energy market in the country.
Brazil Offshore Energy Market Competitor Analysis
The Brazilian offshore energy market is moderately fragmented. Some of the major players (in no particular order) are Chevron Corporation, Repsol SA, Petrobras, Exxon Mobil Corporation, and Enel Green Power SpA.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
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 Market Size and Demand Forecast in USD Million, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Wind
5.1.2 Oil and Gas
5.1.3 Wave
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Chevron Corporation
6.3.2 Repsol SA
6.3.3 Petrobras
6.3.4 Exxon Mobil Corporation
6.3.5 Enel Green Power SpA
6.3.6 Eco Wave Power Global
6.3.7 Acciona Energia SA
6.3.8 Siemens Gamesa Renewable Energy SA
6.3.9 Vestas Wind Systems A/S
6.3.10 General Electric Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security