Sold for next to nothing, pre-salt oil becomes an international star.
The appetite of international oil companies to explore Brazil's pre-salt reserves, which are being sold off at bargain-basement prices by the Michel Temer government, is more than justified by its competitiveness; oil extracted from these layers has a barrel priced between US$30 and US$40, a value equivalent to that extracted from wells in traditional areas, such as the Middle East, where the price per barrel varies between US$20 and US$40; and importantly, a single pre-salt well can produce up to 40 barrels per day, equivalent to many entire post-salt fields.
247 - The appetite of international oil companies to explore Brazil's pre-salt reserves, which are being sold off at bargain-basement prices by the Michel Temer government, is more than justified by its competitiveness. Oil extracted from these layers is priced between US$30 and US$40 per barrel, a value equivalent to that extracted from wells in traditional areas like the Middle East, where the price per barrel varies between US$20 and US$40. The key detail is that a single pre-salt well can produce up to 40 barrels per day, equivalent to many entire post-salt fields.
With this potential in mind, it is expected that at least 14 multinational oil companies will participate in the next auction of eight areas in the pre-salt layer, located between Santa Catarina and Espírito Santo. The auction is scheduled for the 27th. In an interview with the newspaper O Estado de São Paulo, Helder Queiroz, professor of Energy Economics at UFRJ and former director of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), highlights that since its discovery in 2006, the Brazilian pre-salt has increased its productivity by 30% above projections for the period.
Currently, around 1,5 million barrels are extracted, representing more than half of Brazil's total production.
Read full From the Estado news agency article.