Pre-salt production has boomed over the past year
Brazilian upstream enjoys bumper year
Soaring pre-salt production sees Latin America’s largest country pull away from the local competition
This year is proving busy for Brazil’s upstream oil and gas sector. Barely eight months in and production has already surpassed 4.3m boe/d, boosted by several new FPSO vessels operating in the pre-salt sector. Pre-salt output has surged by 17.5% over the past year and accounts for c.75% of Brazil’s entire oil and gas total. In just three years, production from the offshore region has grown by 572,000boe/d and should see at least another 160,000boe/d of maximum FPSO capacity added before the end of 2023. State oil and gas firm Petrobras has led the charge for pre-salt production growth in recent years and notched up another important milestone in Q2 with two FPSOs reaching startup. The Anna
Also in this section
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth
