Please Wait.....
Report
Brazil Oil and Gas Upstream - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
Market Report I 2025-04-28 I 95 Pages I Mordor Intelligence
The Brazil Oil and Gas Upstream Market is expected to register a CAGR of greater than 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
Key Highlights
- Over the medium term, increasing oil and gas exporation and production are expected to drive the growth of the market studied.
- On the other hand, the volatile nature of crude oil prices are expected to hamper the growth of Brazil oil and gas upstream market during the forecast period.
- Nevertheless, Brazilian government has a target to be the world's top five oil and gas producers are likely to create lucrative growth opportunities for the Brazil oil and gas upstream market in the forecast period.
Brazil Oil and Gas Upstream Market Trends
Increasing Oil and Gas Production Expected to Drive the Market
- As of 2021, Brazil is the major country in South America in terms of oil & gas spending. The country's offshore pre-salt oil fields pumped around 50% of the total oil output and this share increased to approximately 75% by the end of 2020. This increasing production and dependency on offshore oil & gas fields can be attributed to steadily decreasing production expenses due to improved drilling technology, growing expertise in offshore oil & gas industry, and increased infrastructure.
- Natural gas production in Brazil has more than doubled in one decade, reaching over 48.8 billion cubic meters in 2021. In comparison to the previous year, this represents an increase of almost five percent. Brazil's natural gas production is mainly concentrated offshore.
- 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 & gas sector, especially the offshore oil & gas assets in Brazil, are expected to witness significant investment during the forecast period.
- In October 2022, State-run ONGC Videsh Ltd. (OVL) is planning to invest around USD 1 billion in a Brazilian offshore hydrocarbon block. OVL's decision to invest follows the declaration of commerciality (DoC) for the BM Seal-4 block. The block lies in the Sergipe Alagoas Offshore Basin in a 320 sq. km area.
- 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, the 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 & gas industry.
- Hence, such a scenario indicates that increasing oil and gas production is expected to drive the Brazil oil and gas upstream market in the forecast period.
Offshore Segment to have Significant Growth
- The deep-water and ultra-deep-water activities directly influence the Brazilian oil and gas upstream market in the offshore. After oil prices fell in 2014, many countries shifted toward onshore projects. Still, it turned out that the return investment period of onshore projects is 10 to 15 years. So, Brazil started deep-water and ultra-deep-water explorations, which are more profitable, having a return investment period of 5 to 6 years and this factor has helped the Brazilian oil and gas upstream market grow.
- According to the National Agency of Petroleum, Natural Gas, and Biofuels (ANP), in 2021, out of the total oil and gas production in the country, 96% is offshore, and only 4 % is from the onshore. This is expected to drive the Brazilian oil and gas upstream market in the forecast period.
- Oil production in Brazil has been on a mostly upward trend for over a decade, reaching nearly 156.8 million tonnes in 2021. This represents an increase of around 40 percent in comparison to a decade earlier. Petrobras, the national oil corporation, is by far the leading crude oil producer in Brazil, accounting for more than 90 percent of the national output.
- 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 by end of 2022. The development is expected to use several units of coiled tubing for directional drilling, well intervention ad well completion.
- In September 2022, Helix Energy Solutions Group, Inc. announced that it entered into a two-year extension of its well intervention charter and services contracts with Petroleo Brasileiro S.A. (Petrobras) for the Siem Helix 2 well intervention vessel offshore Brazil.
- Moreover, in October 2022, Norway's oil major Equinor has started production from the Phase 2 development of the Peregrino heavy oil field offshore the Campos basin in Brazil. Production from the Peregrino field is being carried out through a new well head platform and drilling rig called Peregrino C. The new platform is installed in a water depth of 120m.
- Therefore, activities in offshore are likely to increase and have a positive impact on the Brazil oil and gas upstream market in the forecast period.
Brazil Oil and Gas Upstream Industry Overview
The Brazilian oil and gas upstream market is moderately consolidated in nature. Some of the major players in the market (in no particular order) include Petroleo Brasileiro SA, Exxon Mobil Corporation, BP plc, Shell Plc, and TotalEnergies SE.
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 Brazil Oil and Gas Production Forecast, till 2027
4.3 Brazil Oil and Gas Consumption Forecast, till 2027
4.4 Recent Trends and Developments
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.6.1 Drivers
4.6.2 Restraints
4.7 Supply Chain Analysis
4.8 PESTLE Analysis
5 MARKET SEGEMENTATION
5.1 Location of Development
5.1.1 Onshore
5.1.2 Offshore
6 COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Company Profiles
6.3.1 Petroleo Brasileiro SA
6.3.2 Exxon Mobil Corporation
6.3.3 BP plc
6.3.4 Shell Plc
6.3.5 TotalEnergies SE
6.3.6 Equinor ASA
6.3.7 Enauta Participacoes SA
6.3.8 Murphy Oil Corporation
6.3.9 Chevron Corporation
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