Petrobras' Energy Sector Outlook
CORPORATION
Pre-salt reserves are likely to turn Brazil into a true oil
World Proven Oil Reserves by Country
Including pre-salt potential
264
138
150
1)
115
83-
102 113
98
87
79
bn boe
120
90
5 60
30
0
Saudi Arab
Iran
Iraq
Kuwait
Brazil -
Bullish
UAE
Venezuela
Russia
2)
53
41 40 36 29
Brazil's proven oil reserves as
per year-end 2007 amounted
to 13 bn boe of which roughly
90% is offshore, compared to
the world average of 18%
(3)
28
27
15
13 12 12
98
Brazil -
Conservative
Libya
Kazakhstan
Nigeria
USA
Canada
Qatar
China
Brazil -
Proven
Algeria
Mexico
Angola
Norway
Inclusion of pre-salt discoveries - to
date should move Brazil well into the
top-10 in world-wide proven reserves.
40000
30000
20000
10000
0
70000
60000
50000
Life after pre-salt
1) According to statements made by Brazilian government officials and Petrobras' CEO, the potential reserves of the recently discovered pre-salt area in Brazil could be as large as
70-100 bn boe
2) Our internal analysis, when only taking into account high- and medium-probability blocks* from the Santos Basin, arrives at minimum of 40 bn boe in pre-salt reserves.
3) IEA World Energy Outlook 2008 worldwide proven and probable (2P) reserves used as a proxy as the BP estimates did not provide a split into onshore and offshore
1953
1955 -
1957
1959
1961
1963
1965
1967
6961
1971
1973
SLB
19771
1979 1
сод
196
985
WÄRTSILÄ
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