South American crude oil and condensate production were 5.50mmbpd in 2022, an increase of 5.35% compared with 2021. The largest oil-producing countries are Brazil, Colombia, and Ecuador. Through 2030, South American annual crude oil and condensate production are forecasted to decrease by a CAGR of 4.33% to reach 3.69mbpd. GlobalData uses proprietary data and analytics to provide a complete picture of the global oil & gas fields segment. Buy the latest oil & gas fields profiles here.
In 2022, Brazil had the highest crude oil production at 2.88mmbpd, followed by Colombia at 0.75mmbpd and Ecuador at 0. 56mmbpd. Here are the 10 largest crude oil fields by production in South America in 2022, according to GlobalData’s Oil & Gas, Upstream Fields Database.
1. Buzios IV (Franco)
Buzios IV (Franco) is located in Rio de Janeiro, Brazil. This crude oil field is owned by China National Offshore Oil (7.34%); China National Petroleum (3.67%); Petroleo Brasileiro (88.99%) and operated by Petroleo Brasileiro. The field produced 0.16mmbpd in 2022 and recovered 28.05% of its total recoverable crude oil and condensate reserves, with peak production in 2022. The peak production was approximately 0.16mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2048. The field currently accounts for approximately 2.85% of South America’s crude oil and condensate output and it is expected to recover 439.58mmbbl of crude oil and condensate. Buy the profile here.
2. Liza Phase 2
Liza Phase 2 is located in North Atlantic Ocean, Guyana. This crude oil field is owned by China National Offshore Oil (25%); Exxon Mobil (45%); Hess (30%) and operated by Esso Exploration and Production Guyana. The field produced 0.15mmbpd in 2022 and recovered 7.9% of its total recoverable crude oil and condensate reserves, with peak production in 2024. The peak production will be approximately 0.21mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2043. The field currently accounts for approximately 2.69% of South America’s crude oil and condensate output and it is expected to recover 631.22mmbbl of crude oil and condensate.
3. Buzios III (Franco)
Buzios III (Franco) is located in Rio de Janeiro, Brazil. This crude oil field is owned by China National Offshore Oil (7.34%); China National Petroleum (3.67%); Petroleo Brasileiro (88.99%) and operated by Petroleo Brasileiro. The field produced 0.14mmbpd in 2022 and recovered 13.89% of its total recoverable crude oil and condensate reserves, with peak production in 2024. The peak production will be approximately 0.19mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2067. The field currently accounts for approximately 2.51% of South America’s daily crude oil and condensate output and it is expected to recover 1005.01mmbbl of crude oil and condensate. Buy the profile here.
4. Buzios II (Franco)
Buzios II (Franco) is located in Rio de Janeiro, Brazil. This crude oil field is owned by China National Offshore Oil (7.34%); China National Petroleum (3.67%); Petroleo Brasileiro (88.99%) and operated by Petroleo Brasileiro. The field produced 0.13mmbpd in 2022 and recovered 24.98% of its total recoverable crude oil and condensate reserves, with peak production in 2021. The peak production was approximately 0.15mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2054. The field currently accounts for approximately 2.45% of South America’s daily crude oil and condensate output and it is expected to recover 535.96mmbbl of crude oil and condensate. Buy the profile here.
5. Buzios I (Franco)
Buzios I (Franco) is located in Rio de Janeiro, Brazil. This crude oil field is owned by China National Offshore Oil (7.34%); China National Petroleum (3.67%); Petroleo Brasileiro (88.99%) and operated by Petroleo Brasileiro. The field produced 0.13mmbpd in 2022 and recovered 64.37% of its total recoverable crude oil and condensate reserves, with peak production in 2023. The peak production will be 0.14mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2024. The field currently accounts for approximately 2.43% of South America’s daily crude oil and condensate output and it is expected to recover 103.29mmbbl of crude oil and condensate. Buy the profile here.
6. Lula Alto
Lula Alto is located in Rio de Janeiro, Brazil. This crude oil field is owned by China Petrochemical (2.76%); Galp Energia SGPS (6.45%); Petroleo Brasileiro (67.22%); Pre-Sal Petroleo SA (0.55%); Shell (23.02%) and operated by Petroleo Brasileiro. The field produced 0.13mmbpd in 2022 and recovered 20.13% of its total recoverable crude oil and condensate reserves, with peak production in 2018. The peak production was approximately 0.15mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2099. The field currently accounts for approximately 2.37% of South America’s daily crude oil and condensate output and it is expected to recover 1303.51mmbbl of crude oil and condensate. Buy the profile here.
7. Roncador
Roncador is located in Rio de Janeiro, Brazil. This crude oil field is owned by Equinor (25%); Petroleo Brasileiro (75%) and operated by Petroleo Brasileiro. The field produced 0.12mmbpd in 2022 and recovered 81.73% of its total recoverable crude oil and condensate reserves, with peak production in 2009. The peak production was approximately 0.35mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2042. The field currently accounts for approximately 2.2% of South America’s daily crude oil and condensate output and it is expected to recover 337.74mmbbl of crude oil and condensate. Buy the profile here.
8. Lula Norte
Lula Norte is located in Rio de Janeiro, Brazil. This crude oil field is owned by China Petrochemical (2.76%); Galp Energia SGPS (6.45%); Petroleo Brasileiro (67.22%); Pre-Sal Petroleo (0.55%); Shell (23.02%) and operated by Petroleo Brasileiro. The field produced 0.12mmbpd in 2022 and recovered 15.08% of its total recoverable crude oil and condensate reserves, with peak production in 2026. The peak production will be approximately 0.14mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2065. The field currently accounts for approximately 2.14% of South America’s daily crude oil and condensate output and it is expected to recover 834.95mmbbl of crude oil and condensate. Buy the profile here.
9. Iracema Norte
Iracema Norte is located in Rio de Janeiro, Brazil. This crude oil field is owned by China Petrochemical (3%); Galp Energia SGPS (7%); Petroleo Brasileiro (65%); Shell (25%) and operated by Petroleo Brasileiro. The field produced 0.12mmbpd in 2022 and recovered 46.8% of its total recoverable crude oil and condensate reserves, with peak production in 2017. The peak production was approximately 0.14mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2047. The field currently accounts for approximately 2.11% of South America’s daily crude oil and condensate output and it is expected to recover 367.41mmbbl of crude oil and condensate. Buy the profile here.
10. Lula Central
Lula Central is located in Rio de Janeiro, Brazil. This crude oil field is owned by China Petrochemical (2.76%); Galp Energia SGPS (6.45%); Petroleo Brasileiro (67.22%); Pre-Sal Petroleo (0.55%); Shell (23.02%) and operated by Petroleo Brasileiro. The field produced 0.11mmbpd in 2022 and recovered 47.89% of its total recoverable crude oil and condensate reserves, with peak production in 2018. The peak production was approximately 0.14mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2044. The field currently accounts for approximately 2.06% of South America’s crude oil and condensate output and it is expected to recover 302.11mmbbl of crude oil and condensate. Buy the profile here.
For more details on the upstream fields, buy the profiles here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
