Download: Getting into deep water in Brazil
Recent ultra-deep water offshore discoveries are reconfirming Brazil as the largest and most significant new oil gas prospect of the last few decades. Brazil produces around 2.8 million barrels of oil equivalent per day, including biofuels, ranking 9th among oil producing countries today. Meanwhile, Petrobras is forecasting daily production of 6.4 million barrels by 2020, which would place Brazil in the top 5 globally. Despite the general belief that the country may fall short of its ambitious goals, there can be no doubt that Brazil will become one of the leading non-OPEC producers in the coming decade.
The greatest impact is expected to occur in the oil and gas service sector, which accounts for 10% of Brazil’s economy now and is predicted to grow to 25% by 2020. This provides a unique opportunity for Brazil to become a leader in the high-tech deep-water industry and for international suppliers and investors to participate in a share of the prize.
Article by Alternative Latin Investor
If you want to discover new new business development and new ways of investing in Brazil, check out Brazil Investment Summit USA, taking place this October in New York.
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