Brazil

In 2017, our presence
in Brazil was focused on our Upstream
and Lubricants businesses

Upstream in Brazil

  • Exploration
  • Lubricants
  • Production / development
Repsol in Brazil

Upstream

At the end of 2017, Repsol had mineral rights in seven blocks: four exploration blocks (net surface area of 296 km2) and three production/development blocks (net surface area of 100 km2), located in the Santos, Campos, and Espirito Santo basins.

Net production at year end was 16.9 mbbl of liquids and 8.8 bscf of natural gas, with a total equivalent net production of 18.4 mboe (50,532 boe/d), from the Sapinhoá, Lapa, and Albacora Leste blocks. The proven reserves of liquids and natural gas were estimated at 88.6 mboe on December 31st, 2017.

The company has an important and diversified portfolio of assets in Brazil, which includes the production fields Sapinhoá, Lapa, and Albacora Leste as well as assets where large discoveries have been made in recent years in blocks BM-C-33 and Sagitario.

The major exploration discoveries made in recent years and the development projects underway reinforce the company's strategy in offshore Brazil, one of the biggest areas of growth in hydrocarbon reserves in the world, representing key projects for the Upstream area.

Milestones

  • In the first quarter of 2017, the second productive well in the Lapa field of block BM-S-9A in the Brazilian deep waters entered production. The third productive well started producing in the middle of the year. In May 2016, the Cidade de Caraguatatuba FPSO (Floating Production Storage and Offloading) platform, used for production in this Brazilian field, arrived in the country. On December 19th, 2016, production began in the Lapa field, with the first productive well.
  • In October, the Brazilian National Petroleum Agency (ANP) announced that Repsol had been awarded an exploration block as operating company in the 14th round. The new exploration block (ES-M-667) is located in the waters of the Espirito Santo basin and represents the first exploration block in Brazil since 2005.
  • In October, in Brazil, during the 2nd PSC round, Repsol was awarded the Entorno de Sapinhoá along with the companies Petrobras and Shell. Sapinhoá is an important project for Repsol, located in the deep pre-salt waters of the Santos basin in Brazil. In 2008, the discovery field was considered by IHS to be one of the greatest findings that year around the world. Production of high-quality crude began in January 2013 in the southern area of Sapinhoá through the “Cidade de São Paulo” FPSO, which reached a production plateau in 2014 of 120,000 barrels of crude. In mid-September 2016, the production plateau in the north area was reached (150,000 kboed 100%), where wells are connected to the “Cidade de Ilhabela” FPSO, with a production capacity of 150,000 barrels of crude and 6 million cubic meters of gas per day and which produces, stores, and transfers oil to a different vessel. This northern area of Sapinhoá entered production through the use of the “Cidade de Ilhabela” FPSO in mid November 2014.

Lubricants

Sale and distribution of lubricants is run through our commercial office.

Upstream


Net surface area
of mineral rights

396

km2

Net
Production

50,532

barrels of
oil equivalent
per day

Net proved
reserves

88.6

million
barrels
of oil
equivalent

Information on net production, net proved reserves, and mineral rights
as of December 31st, 2017