Reflections on making Brazil a core overseas deepwater oil producing region
At present,deep and ultra-deepwater has become a critical field for international oil companies in overseas oil and gas E&P.This paper systematically analyzes the basis,current development situation,and new trends in Brazil's international oil and gas cooperation.It calculates the break-even oil price per barrel for major deepwater oil and gas assets worldwide,estimates the strong E&P cost advantage of Brazil's deep and ultra-deep.A comparative analysis between the strategies of the six majors and Chinese oil companies in Brazil shows the shortcomings in the acquisition of operator identity and the allocation of exploration assets for Chinese oil companies,and proposes investment strategies for Chinese oil companies in Brazil under the new situation which means that strengthening strategic cooperation with Petrobras to build Brazil as the core overseas deepwater oil production area.Specific measures include purchasing multi-user seismic data in advance,forward evaluation,effectively supporting future OPP bidding decisions and high-quality project acquisition,overcoming the shortcomings of deepwater operation by the"three-step"strategy of equity,participation-joint,and operation-independent operation,acquiring diversified E&P assets in various ways,and effectively cultivating core production areas.
Brazildeepwaterinternational oil companiesoperatorsallocation of oil & gas asset