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Brazilian river basin rich in natural gas

11th July 2012

Natural gas found in onshore wells could see country lessen its resource dependence

Brazilian river basin rich in natural gas
Brazil’s energy and mining minister says country is set to “live in a golden age for gas”

"No dry holes" have been drilled by oil companies in Brazil's onshore São Francisco Basin, an official from the country’s National Agency of Petroleum, Natural Gas and Biofuels said on Wednesday.

"They all show signs of gas," she said during a Senate Hearing in Brasília.

The area is reported to be a considerable gas prize, with up to 17 trillion cubic metres of recoverable reserves. State-run Petrobras first discovered natural gas in an onshore well of the Basin’s SF-T-112 block in April 2011.

While Brazil currently imports natural gas from such countries as Bolivia, Nigeria and Qatar, it is set to increase its domestic market supply by 360 per cent from its current 65 to 300 million cubic meters per day between 2025 and 2027.

According to Brazil’s energy and mining minister Edison Lobão, the next five years will see Brazil achieve self-sufficiency in natural gas, after which it will become a major exporter.

Earlier this year, Lobão said Brazil is set to “live in a golden age for gas”.

 

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