South America crude oil and natural gas production increased by 3.60% during 2021-2022. The largest oil and gas-producing countries are Brazil, Argentina, and Colombia. Through 2030, South America’s oil and gas production is forecasted to decrease by a CAGR of 5.25%. 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 and natural gas production, followed by Argentinaand Colombia. Here are the 10 largest oil and gas producing fields by production in South America in 2022, according to GlobalData’s Oil & Gas, Upstream Fields Database.
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1. San Martin-Cashiriari Complex
San Martin-Cashiriari Complex is located in Madre de Dios, Peru. This field is owned by Hunt Consolidated, Pluspetrol Resources, Repsol, SK Innovation Co, Sonatrach, The Techint Group, and operated by Pluspetrol Camisea. The field produced 0.18mmboed in 2022 and recovered 50.9% of its total recoverable crude oil and natural gas reserves, with peak production in 2022. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2052. Buy the profile here.
2. Buzios IV (Franco)
Buzios IV (Franco) is located in Rio de Janeiro, Brazil. This field is owned by China National Offshore Oil, China National Petroleum, Petroleo Brasileiro, and operated by Petroleo Brasileiro. The field produced 0.16mmboed in 2022 and recovered 27.57% of its total recoverable crude oil and natural gas reserves, with peak production in 2022. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2048. Buy the profile here.
3. Liza Phase 2
Liza Phase 2 is located in North Atlantic Ocean, Guyana. This field is owned by China National Offshore Oil, Exxon Mobil, and Hess, and operated by Esso Exploration and Production Guyana. The field produced 0.16mmboed in 2022 and recovered 7.9% of its total recoverable crude oil and natural gas reserves, with peak production in 2024. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2043.
4. Lula Alto
Lula Alto is located in Rio de Janeiro, Brazil. This field is owned by China Petrochemical, Galp Energia SGPS, Petroleo Brasileiro, Pre-Sal Petroleo, Shell, and operated by Petroleo Brasileiro. The field produced 0.15mmboed in 2022 and recovered 20.62% of its total recoverable crude oil and natural gas reserves, with peak production in 2018. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2099. Buy the profile here.
5. Buzios III (Franco)
Buzios III (Franco) is located in Rio de Janeiro, Brazil. This field is owned by China National Offshore Oil, China National Petroleum, Petroleo Brasileiro, and operated by Petroleo Brasileiro. The field produced 0.14mmboed in 2022 and recovered 13.79% of its total recoverable crude oil and natural gas reserves, with peak production in 2024. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2067. Buy the profile here.
6. Buzios II (Franco)
Buzios II (Franco) is located in Rio de Janeiro, Brazil. This field is owned by China National Offshore Oil, China National Petroleum, Petroleo Brasileiro, and operated by Petroleo Brasileiro. The field produced 0.14mmboed in 2022 and recovered 24.58% of its total recoverable crude oil and natural gas reserves, with peak production in 2021. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2054. Buy the profile here.
7. Buzios I (Franco)
Buzios I (Franco) is located in Rio de Janeiro, Brazil. This field is owned by China National Offshore Oil, China National Petroleum, Petroleo Brasileiro, and operated by Petroleo Brasileiro. The field produced 0.14mmboed in 2022 and recovered 62.3% of its total recoverable crude oil and natural gas reserves, with peak production in 2023. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2024. Buy the profile here.
8. Roncador
Roncador is located in Rio de Janeiro, Brazil. This field is owned by Equinor, Petroleo Brasileiro, and operated by Petroleo Brasileiro. The field produced 0.13mmboed in 2022 and recovered 82.22% of its total recoverable crude oil and natural gas reserves, with peak production in 2009. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2042. Buy the profile here.
9. Lula Norte
Lula Norte is located in Rio de Janeiro, Brazil. This field is owned by China Petrochemical, Galp Energia SGPS, Petroleo Brasileiro, Pre-Sal Petroleo, Shell, and operated by Petroleo Brasileiro. The field produced 0.13mmboed in 2022 and recovered 15.31% of its total recoverable crude oil and natural gas reserves, with peak production in 2026. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2065. Buy the profile here.
10. Iracema Norte
Iracema Norte is located in Rio de Janeiro, Brazil. This field is owned by China Petrochemical, Galp Energia SGPS, Petroleo Brasileiro, Shell, and operated by Petroleo Brasileiro. The field produced 0.13mmboed in 2022 and recovered 45.83% of its total recoverable crude oil and natural gas reserves, with peak production in 2017. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2047. 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.
