Search and Filter Through Our Comprehensive Database of Upstream (Onshore) Projects and Tenders in South America Region
Identify and track latest upstream (onshore) projects (upcoming, ongoing/under-construction, completed), tenders, and contract awards. Our extensive database and user-friendly interface make it easy for you to find the right business opportunity in South America Region.
South America Region Upstream (Onshore) Industry Analysis
South America's oil and gas industry has long been a key driver of the region's economic development, with significant hydrocarbon reserves and a growing demand for energy. Upstream onshore oil and gas projects, which involve exploration and production activities, play a critical role in the industry. In this analysis, we will delve into the current scenario of the upstream onshore oil and gas projects industry in South America, discuss the construction of new projects, identify major drivers, and examine the industry's outlook.
Current Scenario
South America has seen significant investment and development in upstream onshore oil and gas projects, with several countries ramping up exploration and production activities. Notable projects and developments include:
Vaca Muerta Shale Formation in Argentina: Spanning over 30,000 square kilometers, the Vaca Muerta shale formation is one of the largest shale reserves in the world. Several international and local companies are actively involved in exploration and production projects, including YPF, Chevron, and Shell.
Pre-Salt Cluster in Brazil: Although primarily offshore, the pre-salt cluster in Brazil has onshore infrastructure and facilities that support the massive offshore exploration and production activities. Petrobras, Brazil's national oil company, has been the driving force behind these projects, with involvement from other major international oil companies.
Orinoco Belt in Venezuela: The Orinoco Belt is one of the world's largest heavy oil reserves, with an estimated 513 billion barrels of oil. Despite facing significant economic and political challenges, Venezuela has continued to invest in the development of the Orinoco Belt, with the participation of international oil companies such as Rosneft and CNPC.
Major Drivers
Several factors are contributing to the growth of the upstream onshore oil and gas projects industry in South America:
Abundant Hydrocarbon Reserves: South America is home to some of the world's largest hydrocarbon reserves, which provide a strong incentive for exploration and production activities in the region.
Growing Energy Demand: As the region's economies continue to grow and urbanize, the demand for energy is increasing, driving the need for more oil and gas exploration and production projects.
Technological Advancements: New technologies and techniques, such as hydraulic fracturing and horizontal drilling, have enabled the development of previously inaccessible or economically unviable hydrocarbon reserves, opening up new opportunities for upstream onshore oil and gas projects.
Industry Outlook
While it is essential to consider the global shift towards renewable energy sources, the outlook for South America's upstream onshore oil and gas projects industry remains cautiously optimistic, with several factors suggesting continued growth:
Ongoing Investment and Development: Several South American countries are actively promoting investment in the oil and gas sector, offering incentives and favorable regulatory environments to attract domestic and international companies.
Regional Energy Integration: Efforts to enhance regional energy integration, such as the construction of new pipelines and infrastructure, could foster increased collaboration and investment in upstream onshore oil and gas projects across the region.
Continued Technological Innovation: As the industry continues to innovate and adopt new technologies, the cost of exploration and production activities may decrease, making new projects more economically viable and attractive to investors.
Conclusion
South America's upstream onshore oil and gas projects industry remains an essential component of the region's energy landscape, driven by abundant hydrocarbon reserves, growing energy demand, and technological advancements. While the industry faces challenges and uncertainties due to global energy trends, the construction of new projects and ongoing investment in exploration and production activities suggest a cautiously optimistic outlook for the industry. As South American countries continue to develop their oil and gas resources and invest in regional energy integration, the upstream
Looking for a List of Upstream (Onshore) Projects in South America Region?
Are you searching for upstream (onshore) projects and tenders in South America Region?
We have compiled the most comprehensive and up-to-date database of global projects and tenders to quickly find opportunities needing your services.
Blackridge Research's Global Project and Tender database is a valuable resource for EPC companies, general contractors, subcontractors, manufacturers, suppliers, operation & maintenance (O&M) companies, investors, consulting companies, and law firms looking for new business opportunities.
Our database includes all the essential project details, contact information of project owners and stakeholders, making it easy for you to establish your connection and grow your business.