Alvopetro eyes expanding Brazilian gas market

The company has plenty of onshore growth opportunities to match its midstream capacity and increase its stake in the country’s upstream

Calgary-based Alvopetro may not have cracked Brazil’s top-ten largest oil and gas producers just yet. But the firm is the first independent to sell directly to local gas distribution and has a backlog of upstream and midstream growth prospects to draw upon. The company operates in Brazil’s oldest producing basin—the onshore and deepwater Reconcavo basin in the northeast of the country—and since splitting from Colombia-focused Petrominerales in 2013 has cherrypicked blocks in the basin over five licensing rounds. “Cabure is a very high-value asset, especially for a gas asset, given the high price realised” Kapadia, Hannam & Partners Production growth from the flagship onshore