Politician uddhav thackeray biography- Full Details
Pre-Salt # Exploiting Brazil’s Petroleum Reserves
1. Exploiting Brazil’s
Petroleum Reserves
The Center for Latin American Issues – George Washington University – Washington, DC – June 6th., 2012
Claudio A. Pinho
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3. Energy Consumption 2010-2030 Scenario
2010* Projections**
* BP Statistical Review of World Energy 2011 ** International Energy Outlook 2011
US Energy Information Administration
Claudio A. Pinho
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4. Energy Consumption 2010-2030 Scenario
2010*
• Usually wind, solar and
biomass are included in
renewables, but hydro still
the main source of
renewable energy (fact)
• Together fossil fuels
represent 86-88% of world
energy consumption
matrix (fact)
* BP Statistical Review of World Energy 2011
Claudio A. Pinho
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5. Energy Consumption 2010-2030 Scenario
• Renewables will Projections**
change in 2030 for
20%
• Fossil fuels will
decrease to 64% and
natural gas will have a
share of 42%
• In absolute numbers
the increase of energy
consumption from
2012 to 2030 is
equivalent what US
consumes today ** International Energy Outlook 2011
US Energy Information Administration
Claudio A. Pinho
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6. Oil & Gas is not only energy
Oil products (refining)
Claudio A. Pinho
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7. What changed a few years ago?
• Oil sands in Canadá
Claudio A. Pinho
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8. What changed a few years ago?
• Oil sands in Canadá
• China energy policy
Claudio A. Pinho
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9. What changed a few years ago?
• Oil sands in Canadá
• China energy policy
• Pre-Salt in West Africa
Claudio A. Pinho
C
10. What changed a few years ago?
• Oil sands in Canadá
• China energy policy
• Pre-Salt in West Africa
• Fracking (or Fracturing technology) in shale Gas
Claudio A. Pinho
C
11. What changed a few years ago?
• Oil sands in Canadá
• China energy policy
• Pre-Salt in West Africa
• Fracking (or Fracturing technology) in shale Gas
• LNG (Liquid Natural Gas)
Claudio A. Pinho
C
12. What changed a few years ago?
• Oil sands in Canadá
• China energy policy
• Pre-Salt in West Africa
• Fracking (or Fracturing technology) in shale Gas
• LNG (Liquid Natural Gas)
• Solar and Wind technologies are improving
Claudio A. Pinho
C
13. What changed a few years ago?
• Oil sands in Canadá
• China energy policy
• Pre-Salt in West Africa
• Fracking (or Fracturing technology) in shale Gas
• LNG (Liquid Natural Gas)
• Solar and Wind technologies are improving
Claudio A. Pinho
C
14. What changed a few years ago?
• Oil sands in Canadá
• China energy policy
• Pre-Salt in West Africa
• Fracking (or Fracturing technology) in shale Gas
• LNG (Liquid Natural Gas)
• Solar and Wind technologies are improving
• US geopolitics axis
Claudio A. Pinho
C
17. Brazilian Pre-Salt
• 2008 – First pre-salt discoveries
• Brazilian oil reserves estimated to be 14 billion barrels
• Pre-Salt area
reserves
estimated to be
more than 20 6,500
ft.
billion barrels Corcovado
Mountain
Huge oil & gas fields 10,000
ft
Located under 16,400 - 22,900 Salt
feet of sea level (approximately
5.000 - 7.000 meters)
Ultra-deep water drilling (under
6,500 feet or approximately
2,000 meters)
Pre-Salt
Under a pre-salt layer of 6,000
feet thick (average)
Claudio A. Pinho
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18. Brazilian Pre-Salt
Pre-salt
area
Tupi
Block
LOGISTICS AND INFRASTRUCTURE
43
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19. 1988 Constitution and its Provisions
The natural resources all belong
to the Federal Government
the continental shelf
the exclusive economic zone
the territorial sea
the mineral resources including
those of the subsoil
The economic order establishes the principle of free
competition.
Claudio A. Pinho
C
20. Oil&Gas Legal Framework before Pre-Salt
Amendment # 6 (Aug. 1995) Revoked article 171 which
gives the Brazilian Companies some privileges.
Amendment # 9 (Nov. 1995) Changed the article 177 to
break the Petrobras monopoly and allow competition.
Law # 9.478/97 [Brazilian Oil Law] (1997) Created ANP
(National Petroleum Agency) and the rules for bid and
contracting (concession model)
Direct Action of Unconstitutionality (ADIN #
3.273) (2011) Brazilian Supreme Court declares Brazilian
Oil Law constitutional, and declares that oil & gas
exploration can only happen in a competitive marketplace.
Claudio A. Pinho
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21. Pre-Salt Bills
Federal Government sends 3 bills to
Brazilian Congress to create the Pre-
salt legal framework:
1) Regulatory pre-salt law (changing
the contracts to Production Share
Agreement and defines the
pre-salt area);
2) A bill to create a state company called PPSA (Pré-Sal
Petróleo S/A) to work as the National Oil Company (NOC) in
pre-salt contracts;
3) Capitalization of Petrobras and onerous transfer of rights.
Claudio A. Pinho
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23. Pre-Salt Production Sharing Agreement
30% Petrobras 70% Consortium
NOC IOC
COSTS
60% 40%
1st bill => Law # 12.351/10
Claudio A. Pinho
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24. Pre-Salt Production Sharing Agreement
30% Petrobras 70% Consortium
PPSA IOC
COSTS
60% 40%
2nd bill => Law # 12.276/10
Claudio A. Pinho
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25. Pre-Salt Production Sharing Agreement
30% Petrobras 70% Consortium
PPSA IOC
e ls
a rr
n B
i llio COSTS
5 B
60% 40%
3rd bill => Law # 12.304/10
Claudio A. Pinho
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26. Pre-salt Perimeter
• Does the
onerous transfers
of rights is a
regulatory
framework itself?
• Petrobras
answers “yes”
and the industry
and the
Government
accepted that
idea.
Claudio A. Pinho
C
27. What will happen, what will not & challenges
• With the new Director, Magda Chambriard, ANP
(Brazilian National Petroleum Agency) is
returning to its regulatory role
Claudio A. Pinho
C
28. What will happen, what will not & challenges
• With the new Director, Magda Chambriard, ANP
(Brazilian National Petroleum Agency) is
returning to its regulatory role
Claudio A. Pinho
C
29. What will happen, what will not & challenges
• With the new Director, Magda Chambriard, ANP
(Brazilian National Petroleum Agency) is
returning to its regulatory role
• A bill of National Contingency Plan is almost ready to be
filed (PNC Plano National de Contingência) with new
liability standards (probably will be a Presidential Decree)
Claudio A. Pinho
C
30. What will happen, what will not & challenges
Energy Tribune December 1st, 2011
Claudio A. Pinho
C
31. What will happen, what will not & challenges
• With the new Director, Magda Chambriard, ANP
(Brazilian National Petroleum Agency) is
returning to its regulatory role
• A bill of National Contingency Plan is almost ready to be
filed (PNC Plano National de Contingência) with new
liability standards (probably will be a Presidential Decree)
• In 2013 Brazil will bid for new blocks in pre-salt legal
framework offshore and maybe onshore
Claudio A. Pinho
C
32. What will happen, what will8th, 2012
McClatchy – March not & challenges
McClatchy March 8th, 2012
Claudio A. Pinho
C
33. What will happen, what will not & challenges
• With the new Director, Magda Chambriard, ANP
(Brazilian National Petroleum Agency) is
returning to its regulatory role
• A bill of National Contingency Plan is almost ready to be
filed (PNC Plano National de Contingência) with new
liability standards (probably will be a Presidential Decree)
• In 2013 Brazil will bid for new blocks in pre-salt legal
framework offshore and maybe onshore
• Royalties in the new legislation are far
to be solved
Claudio A. Pinho
C
34. What will happen, what will not & challenges
• With the new Director, Magda Chambriard, ANP
(Brazilian National Petroleum Agency) is
returning to its regulatory role
• A bill of National Contingency Plan is almost ready to be
filed (PNC Plano National de Contingência) with new
liability standards (probably will be a Presidential Decree)
• In 2013 Brazil will bid for new blocks in pre-salt legal
framework offshore and maybe onshore
• Royalties in the new legislation are far
to be solved
• There is no policy for independent
producers
Claudio A. Pinho
C
35. What will happen, what will not & challenges
• With the new Director, Magda Chambriard, ANP
(Brazilian National Petroleum Agency) is
returning to its regulatory role
• A bill of National Contingency Plan is almost ready to be
filed (PNC Plano National de Contingência) with new
liability standards (probably will be a Presidential Decree)
• In 2013 Brazil will bid for new blocks in pre-salt legal
framework offshore and maybe onshore
• Royalties in the new legislation are far
to be solved
• There is no policy for independent
producers
• Onshore gas could make the difference
Claudio A. Pinho
C
36. What will happen, what will not & challenges
• Brazilian FTC (CADE) does not really enforce antitrust law
in oil&gas market (Law 12,529/2011 came into force last May 29th)
Claudio A. Pinho
C
37. pre-salt references
Pre-Salt - The new Oil
Regulation in Brazil -
Manhattan Connection
Pre-Salt - Part. 1-3 - Claudio A. Pinho
Claudio A. Pinho
C
38. Thank you!
@ClaudioAPinho
This presentation is posted at
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Claudio A. Pinho
C