Brazil’s 1P Reserves Decline In 2020

(Energy Analytics Institute, 31.Mar.2021) — Brazil’s crude oil and natural gas reserves fell in 2020 across 1P, 2P and 3P categories, according to details published by the country’s National Agency of Petroleum, Natural Gas and Biofuels (ANP by its Portuguese acronym).

In 2020, Brazil’s proven 1P oil reserves were 11.89 billion barrels, its 2P reserves (proven + probable) were 17.496 billion barrels and its 3P reserves (proven + probable + possible) were 20.273 billion barrels, down 6.7%, 3.3% and 24.6%, respectively, compared to 2019.

Brazil’s proven pre-salt oil reserves increased by 3.37% compared to 2019, totaling 8.511 billion barrels, ANP said on 31 March 2021 in an official statement.

In 2020, Brazil 1P gas reserves were 337.238 billion cubic meters, its 2P reserves were 408.343 billion cubic meters, and its 3P reserves were 450.247 billion cubic meters, down 7.9%, 59.6% and 72.1%, respectively, in relation to 2019.

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By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.