RIO DE JANEIRO – Petrobras reports that its 2030 Strategic Plan (SP 2030) differs significantly from that of the previous plan, drafted in 2007, due to the 2008 global economic crisis; the advent of shale gas and tight oil in the US, and the resulting worldwide changes in the geopolitical energy scenario; and changes in the Brazilian oil industry regulatory framework, which now includes rights’ transfer agreements and production-sharing.
Taking this into account, Petrobras has made major provision guidelines for the company´s 2030 Strategic Plan. Basic assumptions for drafting the 2030 Strategic Plan include growth in oil output up to 2020, leveling off at a potential sustainable average output of 4 MMb/d from 2020 to 2030.
In setting this output target, Petrobras says that it accounts for the varying pace of bidding procedures to be conducted by the government, and the company is assuming that total Brazilian oil output (Petrobras + third parties + government) will reach an average of 5.2 MMb/d over the 2020–2030 period.
Strategies have been defined for each of the company’s business sections, based on growth in oil output. Emphasis has been placed on integrated oil and natural gas production activities, boosting refining capacity to 3.9 MMb/d by 2030 and growth in the supply of natural gas for the Brazilian market.