Snapshot: Brazil’s new oil and gas fields

Brazil has gained three new natural gas fields containing around 15Bm3 (billion cubic meters) of hydrocarbons, considering P10 estimated reserves, which have a 10% probability of being surpassed. 

Located in the Parnaíba and Amazonas basins, the Gavião Vaqueiro, Tambaqui and Azulão Oeste fields were recently declared commercial by Eneva. 

Gavião Vaqueiro, in Parnaíba, has gas-in-place volume that varies between 1.5Bm3 (P90), 2.2Bm3 (P50) and 3.3Bm3 (P10). 

In Amazonas, Tambaqui has estimated gas-in-place volume of 1.6Bm3 (P90), 3.6Bm3 (P50) and 5.7Bm3 (P10), while total gross oil and condensate varies between 8.8Mb (P90), 13.9Mb (P50) and 18.9Mb (P10).

In Azulão Oeste, estimated gas-in-place varies from 1.4Bm3 (P90) to 6.1Bm3 (P10).

Following the declarations of commerciality, the company has up to 180 days to submit the development plans to oil and gas regulator ANP and detail how to monetize the discoveries.

According to ANP, 10 declarations of commerciality were registered in 2023, up 400% from the previous year. 

The new fields in 2023 were Águia Real and Batuíra, operated by Capixaba Energia; Caboclinho Branco (Aguila); Espadim and Manjuba (Petrobras); Muriqui (BGM); Raia Manta and Raia Pintada (Equinor); and Tucano Grande and Tucano Grande Sul (Imetame).

Espadim and Manjuba derive from the Norte de Brava production sharing block, in the Campos basin. 

Located in the same basin, Raia Manta and Raia Pintada are the result of the Pão de Açúcar, SEAT and Gávea discoveries, in block BM-C-33. 

Since 1999 – when ANP’s historical series started – a total of 262 discoveries have been declared commercial in Brazil, most by federal oil firm Petrobras (109).