Renato T BertaniWorld Petroleum Council – PresidentBarra Energia - CEO

Renato T BertaniWorld Petroleum Council – PresidentBarra Energia - CEO

World Petroleum CouncilThe Global Forum for Oil and Gas

Science, Technology, Economics and Management

Presentation to Accelerate Oil & Gas 2012

Presentation to Accelerate Oil & Gas 2012

Barra Energia do BrasilStriving to be a reference on

competency, ethics and credibility

100 km

LIBRA

Acumulações

JUPITERLULA

CERNAMBI

IARA

FRANCO

GUARA

CARIOCA

CARAMBA

ABARÉ IGUAÇU

LIBRA

AZULÃO

BEM-TE-VI

MACUNAÍMA

PARATI

GATO DO MATOCORCOVADO

source: IHS,ANP, WoodMac

Rio de Janeiro

BM-S-866 % Petrobras (operator)10% Barra Energia10 % Queiroz Galvão14 % Galp

BS-430 % Queiroz Galvão (operator)40 % Petrobras30 % Barra Energia

2

ATLANTA

OLIVA

BIGUÁ

BE is positioned in highly prospective pre-salt acreage

BMS-8

BS-4

AlgeriaAngolaArgentinaAustraliaAustriaAzerbaijanBahrainBelgiumBrazilCanadaChinaColombiaCroatiaCubaCzechDenmarkEgyptFinlandFranceGabonGermanyHungaryIndia

IndonesiaIranIsraelJapanKazakhstan

KenyaKoreaKuwaitLibyaMacedonia

MexicoMoroccoMozambiqueNetherlandsNigeria

NorwayOmanPakistanPanamaPeru

PolandPortugalQatarRomaniaRussiaSaudi ArabiaSerbiaSierra LeoneSlovakiaSloveniaSouth AfricaSpainSurinameSwedenThailandTrinidad & TobagoTurkeyUKUruguayUSAVenezuelaVietnamMISSION

The mission of the World Petroleum Council is to promote the sustainable development, production and consumption of oil, gas and other energy resources for the benefit of mankind

WPC Member Countries and MissionWPC Member Countries and Mission

WPC Member Countries

4

Source: EIA

World Energy Demand GrowthWorld Energy Demand Growth

504

721

• Energy consumption will grow by approximately 40% until 2030• The largest growth will be in developing countries

2005 2008 2010 2015 2020 2025 20300

50

100

150

200

250

300

350

400

World Energy ConsumptionMM boe/day

Non-OECDOECD

0.6%

2.3%

1.6%Source: EIA

257

356

Source: EIA , International Energy OutlookIssue: October 2011

5

World Energy Demand GrowthWorld Energy Demand Growth

• Fossil fuels (oil, natural gas and coal) will continue to be the main sources of energy• Supply of renewable sources of energy will grow significantly, but still remain a complementary source of energy

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

0

30

60

90

120

World Marketed Energy Use by Fuel Type MMboe/day

LiquidsNatural GasCoalNuclearRenewables

Liquids: Conventional (oil, condensate, natural gas plant liquids, refinery gains) Non-Conventional (oil sands, extra heavy oil, biofuels, GTL, CTL)

Source: EIA OutlookIssue: October 2011

World Oil ReservesWorld Oil Reserves

• World resource base is expanding in view of new technologies and price deck

S. Arabia

Venez*

Canada*

IranIraq

Kuwait

UAERussia

LibyaNigeria

KazakhQatar

US ChinaBrazil

AlgeriaMexico

AngolaAzerbaijan

Ecuador

RoW0

50

100

150

200

250

300

260

211175

138115 102 98

60 46 37 30 25 21 20 13 12 12 10 7 7

75

Oil Reserves (2011) Billion bo

Total Reserves: 1.471 trillion boR/P = 46 yrs(*) Including extra heavy and oil sands

Source: EIA , International Energy OutlookIssue: October 2011

7

World Liquid Fuel ConsumptionWorld Liquid Fuel Consumption

• Liquid fuels will continue as the largest component of the energy matrix• Growth of oil production, in both Opec and non Opec countries will meet most of the demand• Non-conventional liquid fuels also growing significantly

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

0

20

40

60

80

100

120

World Crude Oil and Liquid Fuels ConsumptionMMb/day

Non ConvConv Non OpecConv OpecCurrent Prod Proj

Liquids: Conventional (oil, condensate, natural gas plant liquids, refinery gains) Non-Conventional (oil sands, extra heavy oil, biofuels, GTL, CTL)

Source: EIA OutlookIssue: October 2011 108

87.8

Saudi Arabia

Iraq Other Middle ...

West Africa

Iran South America

North Africa

0

4

8

12

16

Opec Liquids Productionmmb/day

20082035

Source: EIA , International Energy OutlookIssue: October 2011

Liquids: Conventional (oil, condensate, natural gas plant liquids, refinery gains) Non-Conventional (oil sands, extra heavy oil, biofuels, GTL, CTL)

Key Drivers and Constraints

Liquid Production Changes

Key Drivers and Constraints

Liquid Production Changes

0

4

8

12

16

Non Opec Liquids ProductionMmb/day

20082035

9

MONEY$20 trillion until 2030Finance takes good

projects and good managementIEA Energy Outlook

MONEY$20 trillion until 2030Finance takes good

projects and good managementIEA Energy Outlook

MILLSIncreasing demand for

steel, rigs, suppliesSecure strategic long

term alliances

MILLSIncreasing demand for

steel, rigs, suppliesSecure strategic long

term alliances

MINDSRapidly aging HR base,

attract and keep new talent

MINDSRapidly aging HR base,

attract and keep new talent

Challenges = OpportunitiesChallenges = Opportunities