Abstract
Brazil figures amongst the top 10 countries with greatest technically recoverable shale gas resources around the globe. However, shale gas business has not yet taken off. This paper aims to provide a business-oriented analysis on the drivers and opportunities for developing shale gas in the country. Methodology consists of going through critical non-technical factors (above the surface issues) of each one of the Brazilian basins with technically recoverable shale gas resources. Results show that from a business perspective the potential development of unconventionals in Brazil over the next decade or so will most likely be linked with the production declining faced in some conventional gas fields, and hence, a mechanism to extend asset life cycle and sustain existing jobs. Keywords: Brazil; Oil and gas exploration; Unconventional resources; Unconventional gas; Shale gas; Brazilian sedimentary basins; Market development. DOI: 10.7176/RHSS/12-2-04 Publication date: January 31 st 2022
Highlights
The debate around developing shale gas got momentum in Brazil when it was perceived it could foster local and regional development by increasing decentralized supply of gas, inducing the construction of new gas pipes, investment on gas-to-power projects, allowing the establishment and development of local E&P companies, generating new jobs and income (Delgado, 2018).The Brazilian Oil and Gas Regulator (ANP), the Brazilian Energy Research Office (EPE, 2019) and the U.S Energy Information Administration (EIA) estimate that, all together, Parecis, Parnaíba, Recôncavo and São Francisco basins could reach to a total of 533 trillion of cubic feet (Tcf) of shale gas, 15.1 trillion of cubic meters (ANP, 2013)
EIA estimates Brazil figures among the 10 top countries with regards to shale gas reserves, taking into consideration technically recoverable resources at Amazonas, Solimões, Parnaíba, Recôncavo and Paraná basins (EIA, 2013)
This paper aims to provide a business-oriented analysis on the drivers and opportunities for developing shale gas in Brazil by going through specifics of each one of the basins analysed by EIA
Summary
The debate around developing shale gas got momentum in Brazil when it was perceived it could foster local and regional development by increasing decentralized supply of gas, inducing the construction of new gas pipes, investment on gas-to-power projects, allowing the establishment and development of local E&P companies, generating new jobs and income (Delgado, 2018). EIA estimates Brazil figures among the 10 top countries with regards to shale gas reserves, taking into consideration technically recoverable resources at Amazonas, Solimões, Parnaíba, Recôncavo and Paraná basins (EIA, 2013). This paper aims to provide a business-oriented analysis on the drivers and opportunities for developing shale gas in Brazil by going through specifics of each one of the basins analysed by EIA. At the end of the analysis, it will become clear that the potential development of unconventional in Brazil over the decade will most likely be linked with the production declining faced in some conventional gas fields, and a mechanism to extend asset life cycle and sustain existing jobs
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