Investor Presentaiton
32
YEARBOOK OF THE OIL AND NATURAL GAS INDUSTRY IN ESPÍRITO SANTO 2022
Chart 14 - Onshore natural gas reserves in Espírito Santo (million m³)
2,750
2,500
2,250
2,000
1,750
1,500
1,250
1,000
750
500
250
CHAPTER 2 EXPLORATION AND PRODUCTION OF OIL AND NATURAL GAS IN ESPÍRITO SANTO
Chart 15 - Total oil production in Espírito Santo (thousand barrels)
160,000
140,000
120,000
100,000
80,000
60,000
40,000
2016
34.6%
was the drop in oil
production in Espírito
Santo in 2022 when
compared to 2021
37.6%
was the drop in natural
gas production in Espírito
Santo in 2022 when
compared to 2021
0
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Source: ANP | Elaboration: Industry Observatory/Findes
2012
2013
2014
2015
2.5. Total oil and natural
gas production
In 2022, Brazilian oil production
reached 1.1 billion barrels, 4.0%
higher than in 2021. Espírito San-
to produced, in 2022, a total of
50.3 million barrels of oil, 34.6%
lower than what was recorded
in the previous year (chart 15).
The state remained in the third
position with the highest oil pro-
duction among all federal units,
behind São Paulo (93.5 million
barrels) and Rio de Janeiro (932.4
million barrels). Between 2011
and 2018, the state remained the
second largest producer of the
input, losing in 2019 to the state
of São Paulo.
Regarding natural gas, in 2022
Brazilian production was 50.3 bil-
lion m3, 3.1% higher than in 2021.
In Espírito Santo, 1.25 billion m³
were produced, 37.6% lower than
2016
2017
2018
2019
2020
2021
in the previous year (chart 16).
The state is in the fifth position
among the states with the high-
est input production, behind Ba-
hia (1.8 billion m³), Amazonas
(5.1 billion m³), São Paulo (5.9 bil-
lion m³) and Rio de Janeiro (34.8
billion m³).
The explanation for the sharp
drop in oil and natural gas pro-
duction in Espírito Santo in 2022
is due to three factors. The first
is related to the operational prob-
lems faced by the FPSO Cidade
de Anchieta. The second is relat-
ed to the decommissioning of the
FPSO Capixaba and finally, the
third and last explanatory factor
is the accelerated natural decline
of the production of the fields un-
der production in the state.
20,000
0
Source: ANP | Elaboration: Industry Observatory/Findes
Chart 16 - Total natural gas production in Espírito Santo (million m³)
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
Source: ANP | Elaboration: Industry Observatory/Findes
2.5.1. Offshore oil and
natural gas production
In 2022, offshore oil production
in Espírito Santo was 47.7 million
barrels of oil, 35.5% lower than
in the previous year. Regarding
natural gas, in 2022, capixaba
production was 1.22 billion m³,
37.9% lower than in the previous
year. With these falls, the state is
approaching the level produced
2012
2013
2014
2015
in the years leading up to the
production of oil and natural gas
from the pre-salt layer in capixa-
ba water.
The drop can be explained mainly
by the production performance in
the pre-salt layer wells, which, in
2022, fell by 51.2% and 47.3% for
33
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