RIO DE JANEIRO, BRAZIL – The proven reserves of oil increased by 11% in Brazil in 2021, according to the Annual Bulletin of Resources and Reserves (BAR), released on March 31 by the National Agency of Petroleum, Natural Gas, and Biofuels (ANP). There was also an increase of 14.3% in the volume related to the sum of proven and probable reserves and 19.8% in the sum of proven, probable, and possible, compared with data from 2020.
“There were declared by the companies contracted for exploration and production in Brazil, 13.24 billion barrels of oil of proven reserves, 19.95 billion barrels of proven plus probable reserves, and 24.24 billion barrels of proven plus probable and possible reserves. In the pre-salt, there was an increase of 15.7% in proven reserves compared to 2020, totaling 9.621 billion barrels,” the ANP reported.
According to the agency, in the case of natural gas, 378.65 billion cubic meters of proved reserves, 491.92 billion cubic meters of proved, most probable reserves, and 560.40 billion cubic meters of proved, most probable, and most possible reserves were declared, which correspond to increases of 11.7%, 20.3%, and 24%, respectively, compared to 2020.
“In general, the changes that occurred in the volume of Brazilian oil and natural gas reserves are due to production during the year, additional reserves arising from new development projects, declarations of commercialism, and review of reserves of the fields by different technical and economic factors. This year, the highlight was the inclusion of volumes related to the surplus of the onerous transfer of the Búzios and Itapu fields,” explained the agency.
With information from Agência Brasil
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