Optimizing Exploration and Development Opportunities
E&P history in Brazil
From a monopoly towards an open market
1953
1997
2010
Production Sharing Law
Transfer of Rights Surplus Law
Petrobras: 93% of production in Brazil
Sharp reduction in onshore and
post-salt offshore activities.
Petrobras focus on the pre-salt
2021
Petrobras: 73% of
Brazilian
production
2008
Petrobras monopoly
Petroleum Law
Auction break
1st oil in pre-salt
1999-2008
10 Concession
Rounds - new
E&P companies
in Brazil
2013
2015
2019
Rounds return
Start of sharp drop in
exploratory well drilling
and in the number of
new discoveries
Oil price collapse
and investment
reduction
Repositioning of
Petrobras - first
sales of the
divestment plan
2016
Start of measures to
resume activities at E&P
2017
New E&P Policies
Rounds acceleration
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