Investments coming

The ANP (National Oil Agency) reported that investments in the production phase of Brazil’s current oil and gas contracts will total just over R$130 billion in 2024. The Santos Basin will receive the majority of investments: 60.4%, followed by Campos Basin (28.17%) and Sergipe Basin (6.26%). The majority will be allocated to platform works with R$37 billion, followed by line launch activity with R$27.7 billion and well drilling with R$12.4 billion.

The ANP also highlighted that by 2028 R$514 billion will be invested in the production phase of current contracts for the exploration and production of oil and natural gas in Brazil. Of this total, the Santos basin stand out with 61%, and Campos with 28% of investments. Until then, 4.195 million boed of production are estimated.