Brazil’s oil and gas sector is expanding, with priorities including improving environmental licensing processes, strengthening regulatory agencies, and enhancing investment frameworks. According to the Brazilian Institute of Petroleum and Gas (IBP), the sector is expected to contribute around USD 180 billion between 2022 and 2031, producing a total of 5.2 million barrels per day in the country by the end of this period. Petrobras plans to install 11 platforms in the pre-salt by 2027 and aims to produce 3.1 million barrels of oil equivalent per day (boed, which includes gas) by that time, with 2.4 million barrels coming from the pre-salt and the rest from the company’s own share.
Sources: Valor Economico/National Bioenergy Union (*Translated by Ia Niani)