Brazil Oil and Gas Report Q3 2013


Naperville, IL -- (SBWIRE) -- 07/31/2013 -- Reportstack, provider of premium market research reports announces the addition of Brazil Oil and Gas Report Q3 2013 market report to its offering
With several deepwater fields yet to come online in H2 2013, such as Papa Terra or Roncador
3, along with Frade's restart, we expect Brazil's crude production to rebound from its 2012 fall. In the longer
term, we forecast this upward trend to confirm itself based on Petrobras' colossal subsalt development plan.
Fields such a Lula, Iracema or Franco will boost crude output above 4mn barrels per day by 2020. The 11th
Licensing Round proved successful despite regulatory hurdles and uncertainty with regards to royalty law.
Looking forward, the country's first subsalt auction will start in November 2013 and is yet to create upside
risk to our long-term forecast. The round is likely to help Petrobras find the required liquidity to complete
additional subsalt development. Finally, we believe there is a risk that Brazil will become increasingly
dependent on LNG imports in the coming years, as large international sporting events will require the
country to leverage on its gas power generation capacity.
The key trends and developments in the Brazilian oil and gas sector are:
? We maintain our long-term bullish outlook for Brazil's crude production. While fields such as Papa Terra
and Roncador 3 will help the country's output to rebound in 2013, we believe that it will be subsalt
developments such as the massive Lula or Franco fields that will contribute to the country's long-term
outlook. We expect oil production to keep growing throughout the forecast period, from 2.3mn b/d in
2013 to more than 4.5mn b/d after 2020.

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Roger Campbell
United States
Ph: 888-789-6604