Investor Presentaiton
28
YEARBOOK OF THE OIL AND NATURAL GAS INDUSTRY IN ESPÍRITO SANTO 2022
CHAPTER 2 EXPLORATION AND PRODUCTION OF OIL AND NATURAL GAS IN ESPÍRITO SANTO
29
29
offshore state-
20 ments of com-
merciality
onshore state-
38 ments of com-
merciality
This was the number of
statements issued in Espírito
Santo since 1999
Since 1999, 58 declarations of
commerciality have been issued in
Espírito Santo, divided between on-
shore (65.5%) and offshore (34.5%).
In 2020, 3 declarations of commer-
ciality were issued in an onshore
environment, in the Suindara, Rio
Mariricu and Garça Branca fields.
The oil companies responsible for
issuing these fields were, respec-
tively, BGM, Petrobras and Petro-
mais. In 2022, BGM issued the dec-
laration of commerciality for the
Irara field.
In an offshore environment, in 2021
Chart 10 - Statements of commerciality in Espírito Santo (in units)
9
PRio issued the declaration of com-
merciality for the Wahoo field. The
Wahoo field is located in the pre-
salt, in the capixaba part of the Cam-
pos Basin. Since 2008, Espírito San-
to has not registered a declaration
of commerciality at sea. The latter
was issued at the request of Petro-
bras for the Camarupim Norte field.
The low number of emissions from
declarations of commerciality in Es-
pírito Santo signals a low number of
new oil and natural gas exploration
and production projects in the state.
10
9
8
7
7
7
6
6
5
5
4
4
3
3
2
2
1
1
1
1
1 1
1
0
0 0 0
0 0
0
0 0 0
0 0 0 00
0 0 0 0 0
0
0
2.4. Oil and natural
gas reserves
In the transition from 2020 to
2021, Brazilian oil reserves re-
corded an increase of 20.3%,
reaching 24.3 billion barrels of oil
in 2021. This increase in reserves
came mainly from the increase in
offshore reserves in Rio de Janei-
ro and Espírito Santo. In Espírito
Santo, in the same period, there
was an increase of 7.1% in oil re-
serves, reaching a reserve of 1.4
billion barrels of oil in 2021. With
this increase, Espírito Santo main-
tains the third position of state
with the largest total oil reserves,
behind São Paulo (2.1 billion bar-
rels of oil) and Rio de Janeiro
(20.1 billion barrels of oil).
Regarding natural gas, the transi-
tion from 2020 to 2021 registered
an increase of 24.5% in Brazilian
reserves, reaching a reserve of
562.6 billion m3. This increase in
reserves came mainly from the
increase in onshore reserves in
Maranhão and the increase in off-
shore reserves in Rio de Janeiro
and Espírito Santo. In Espírito San-
to, in the same period, there was
an 18.2% increase in reserves,
reaching a natural gas reserve of
36.2 billion m3 in 2021. With this
increase, Espírito Santo ranks third
among the states with the largest
total natural gas reserves, behind
Amazonas (45.3 billion m³) and
Rio de Janeiro (388.1 billion m³).
1.4
billion
barrels of oil is the input
reserve in Espírito Santo in
2021, which puts the state
in the 3rd position in the
national ranking
Source: ANP | Elaboration: Industry Observatory/Findes
Onshore
Offshore
2020
2014
2015
2016
2017
2018
2019
2020
2021
2022
BGM stated commerciality in the
onshore field of Suindara
Petrobras stated commerciality in the
onshore field of Rio Mariricu
Petromais stated commerciality
in the onshore field of Garça Branca
2021
PRio stated commerciality
in Wahoo offshore field
2023
BGM announced the
existence of oil in block
ES-T-506
2.4.1. Offshore reserves in Espírito Santo
In 2021, Espírito Santo's offshore
oil reserves recorded an increase
of 10.1% compared to the previ-
ous year, reaching 1.36 billion
barrels of oil (chart 11). With this
increase, the state registered the
first increase in offshore oil re-
serves in ten years and remained
as the third state with the largest
volume of offshore oil reserves,
behind São Paulo (2.1 billion bar-
rels of oil) and Rio de Janeiro
(20.1 billion barrels of oil).
Regarding offshore natural gas,
in 2021, Espírito Santo reached
35.9 billion m³ of reserves, an
increase of 18.5% compared to
the previous year (chart 12). With
this increase, the state returned
to second place among the
states with the largest reserves
of offshore natural gas, behind
Rio de Janeiro (388.1 billion m³).
36.2
billion
m³ of natural gas is the input
reserve in Espírito Santo,
which puts the state in the
3rd position in the national
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