The National Agency of Petroleum, Natural Gas and Biofuels (ANP) has updated the Dynamic Panel on Forecasted Activities and Investments in the Exploration Phase for oil and gas exploration and production (E&P) contracts. This update follows ANP Resolution No. 876/2022, which establishes the requirements and procedures for submitting and approving the Exploration Work Plan (PTE)—a tool used to monitor and oversee planned and executed exploration activities during the first phase of E&P contracts.

Access the Dynamic Panel:
https://www.gov.br/anp/pt-br/centrais-de-conteudo/paineis-dinamicos-da-anp/paineis-dinamicos-sobre-exploracao-e-producao-de-petroleo-e-gas/painel-dinamico-da-previsao-de-atividades-e-investimentos-na-fase-de-exploracao.

Investment Forecasts for 2025-2028

For 2025, consolidated data indicates projected investments of approximately US$ 1.5 billion, with total investments reaching US$ 2.3 billion for the 2025-2028 period.

The drilling of exploratory wells is expected to be the primary driver of investment in 2025, with US$ 1.1 billion allocated for drilling 25 exploratory wells. This accounts for 73.5% of the total estimated investments for the year.

Regarding the total projected investment for 2025, approximately 95% will be concentrated in offshore basins. Specifically, the Eastern Margin basins (Pernambuco-Paraíba, Sergipe-Alagoas, Jacuípe, Camamu-Almada, Jequitinhonha, Cumuruxatiba, Mucuri, Espírito Santo, Campos, Santos, and Pelotas basins) could receive up to US$ 1.45 billion, representing 93.6% of the total forecasted investments for 2025 and 98.8% of the projected investments in offshore basins for the same year.

The panel's information is subject to updates by E&P contract holders. The estimates apply only to the Exploration Phase of E&P contracts and do not include the Development and Production Phase.

What is the Dynamic Panel on Forecasted Investments in the Exploration Phase?

The Dynamic Panel is a business intelligence (BI) tool that consolidates activity and investment forecasts submitted by companies holding exploration and production (E&P) contracts in their Exploration Work Plans (PTE), as mandated by ANP Resolution No. 876 (April 29, 2022).

Users can apply filters to view activities by reference year (forecast year), activity year, phase, environment (offshore or onshore), grouped basins (offshore – Equatorial Margin, offshore – Eastern Margin, onshore – new frontier basins, and onshore – mature basins), specific activities, and contractual regime (production sharing or concession). The same filters can be used to view investment forecasts, which can be displayed in USD or BRL.

What is the Exploration Phase?

The Exploration Phase is the first phase of E&P contracts, beginning with the signing of the contract. During this phase, the explored areas are called blocks, where companies conduct studies and activities (such as seismic surveys and well drilling) to determine whether oil and/or natural gas are present in commercially viable quantities.

• If commercial viability is confirmed, the company submits a declaration of commerciality to ANP, and the block (or part of it) is converted into a producing field, initiating the Production Phase.

• If no commercial discovery is made, the company may return the block to ANP.

What is the Exploration Work Plan (PTE)?

The Exploration Work Plan (PTE) specifies activities, along with their respective schedules and budgets, for each contracted block. It also outlines the remaining obligations and decommissioning activities after the end of the exploration phase of the E&P contract.

ANP Resolution No. 876 (April 29, 2022) establishes the requirements and procedures for submitting and approving the PTE.