heavy investments

The National Petroleum Agency (ANP) released a forecast for exploration investments in Brazil in 2024. The institution states that oil companies will invest US$1.96 billion in the country this year. Of this total, 95% must be invested in offshore oil fields. Well drilling is the activity that will most impact investments planned for the year, with US$1.71 billion projected for the drilling of 39 exploratory wells. For the Equatorial Margin basins, the forecast is around US$ 1.09 billion. For the East Margin basins, the total could be US$772 million. The onshore basins have an amount of investments planned for 2024 of US$ 100 million.