Aurum Tank, a consultancy specialized in energy sector strategy and regulation, forecasts that oil reserves in Espírito Santo could triple, and production could double, driven by the exploration of new blocks in the state. The firm estimates that investments may exceed R$ 230 billion (approx. USD 46 billion). Additionally, royalty revenues are projected to reach R$ 10.9 billion for the State of Espírito Santo and R$ 4.7 billion for the state's municipalities, reinforcing the sector's potential to boost public finances and regional development.
T&B Petroleum/Press Office
The expansion of oil and gas production in the coming years is expected to generate increased royalty revenues, job opportunities, and economic dynamism for the state of Espírito Santo, representing a major opportunity to attract investments. The analysis was presented today (April 8) at Vitória PetroShow by José Mauro Coelho and Guilherme Mercês, founding partners of Aurum Tank, a consultancy specializing in strategy and regulation for the energy sector.
According to Aurum Tank, the auction of 10 blocks in the Espírito Santo Basin, scheduled for this year, could result in investments exceeding R$ 230 billion (approximately USD 46 billion) over the full 25-year lifecycle of the projects. Combined with fields currently under development, the exploration of new areas could triple the state’s reserves and double its current oil production. These new exploratory blocks, according to the consultancy, are expected to generate R$ 10.9 billion in royalties for the State and R$ 4.7 billion for local municipalities by 2054.
“Maintaining high levels of oil and natural gas production is essential for the public finances of Espírito Santo and its municipalities,” emphasized José Mauro Coelho, former President of Petrobras and former National Secretary for Oil, Natural Gas, and Biofuels at Brazil’s Ministry of Mines and Energy.
“Municipalities that receive greater royalty revenues tend to experience more robust economic development, with increased household purchasing power,” he added.
About Aurum Tank
Aurum Tank is a consultancy firm specialized in strategy and regulation for the energy sector. It supports companies operating in regulated segments such as oil, natural gas, fuels, and biofuels, offering customized solutions grounded in data, future scenario modeling, and strong institutional articulation. Its services include Strategic Planning, Regulatory Consulting, Technical Advisory, and New Business Development.
Event Information:
Vitória PetroShow 2025
📅 Date: April 8–10, 2025
📍 Venue: Vitória Convention Center
🌐 More information (Portuguese): https://vitoriapetroshow.com.br/
Contact us