South America crude oil and natural gas production was 7.58mmboed in 2022, an increase of 3.60% in 2021. 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% to reach 4.79mmboede. 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 at 3.2mmboed, followed by Argentina at 1.37mmboed and Colombia at 0. 95mmboed. 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.
1. San Martin-Cashiriari Complex
San Martin-Cashiriari Complex is located in Madre de Dios, Peru. This field is owned by Hunt Consolidated (25.20%), Pluspetrol Resources (27.20%), Repsol (10%), SK Innovation Co (17.60%), Sonatrach (10%), The Techint Group (10%), 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. The peak production was approximately 0.13mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2052. The field currently accounts for approximately 2.33% of South America’s daily crude oil and natural gas output and it is expected to recover 777.33mmboe of crude oil and natural gas. 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 (7.34%), China National Petroleum (3.67%), Petroleo Brasileiro (88.99%), 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. The peak production was approximately 0.16mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2048. The field currently accounts for approximately 2.11% of South America’s daily crude oil and natural gas output and it is expected to recover 454.19mmboe of crude oil and natural gas. 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 (25%), Exxon Mobil (45%), and Hess (30%), 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. The peak production will be approximately 0.21mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2043. The field currently accounts for approximately 2.05% of South America’s daily crude oil and natural gas output and it is expected to recover 661.42mmboe of crude oil and natural gas.
4. Lula Alto
Lula Alto is located in Rio de Janeiro, Brazil. This 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 0.15mmboed in 2022 and recovered 20.62% of its total recoverable crude oil and natural gas reserves, with peak production in 2018. The peak production was approximately 0.15mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2099. The field currently accounts for approximately 1.93% of the South American daily crude oil and natural gas output and it is expected to recover 1,393.65mmboe of crude oil and natural gas. 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 (7.34%), China National Petroleum (3.67%), Petroleo Brasileiro (88.99%), 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. The peak production will be approximately 0.19mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2067. The field currently accounts for approximately 1.86% of South America’s daily crude oil and natural gas output and it is expected to recover 1,022.14mmboe of crude oil and natural gas. 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 (7.34%), China National Petroleum (3.67%), Petroleo Brasileiro (88.99%), 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. The peak production was approximately 0.15mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2054. The field currently accounts for approximately 1.82% of the South America’s daily crude oil and natural gas output and it is expected to recover 551.52mmboe of crude oil and natural gas. 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 (7.34%), China National Petroleum (3.67%), Petroleo Brasileiro (88.99%), 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. The peak production is approximately 0.14mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2024. The field currently accounts for approximately 1.8% of the South American daily crude oil and natural gas output and it is expected to recover 113.72mmboe of crude oil and natural gas. Buy the profile here.
8. Roncador
Roncador is located in Rio de Janeiro, Brazil. This field is owned by Equinor (25%), Petroleo Brasileiro (75%), 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. The peak production was approximately 0.35mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2042. The field currently accounts for approximately 1.76% of the South American daily crude oil and natural gas output and it is expected to recover 355.24mmboe of crude oil and natural gas. Buy the profile here.
9. Lula Norte
Lula Norte is located in Rio de Janeiro, Brazil. This 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 0.13mmboed in 2022 and recovered 15.31% of its total recoverable crude oil and natural gas reserves, with peak production in 2026. The peak production will be approximately 0.14mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2065. The field currently accounts for approximately 1.74% of the South American daily crude oil and natural gas output and it is expected to recover 909.15mmboe of crude oil and natural gas. Buy the profile here.
10. Iracema Norte
Iracema Norte is located in Rio de Janeiro, Brazil. This field is owned by China Petrochemical (3%), Galp Energia SGPS (7%), Petroleo Brasileiro (65%), Shell (25%), and operated by Petroleo Brasileiro. The field produced 0.13mmboed in 2022 and recovered 45.83% of its total recoverable crude oil and natural gas reserves, with peak production in 2017. The peak production was approximately 0.14mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2047. The field currently accounts for approximately 1.72% of the South American daily crude oil and natural gas output and it is expected to recover 429.18mmboe of crude oil and natural gas. 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.
