Recently, the International Energy Agency (IEA) Brazil was identified as a major product other than Opec Responsible for the leadership of global production growth. A group of discoveries of pre -salt oil on a global level on a global level, which is the first in the Lola field during 2006, leads a Huge oil boom abroad. Not only is the largest oil producer in Brazil in Latin America, but the country receives significant investments from Big Oil, which drives production to high levels. By July 2023, oil was first removed 3.5 million barrels per day, putting Brazil on the right path Lift Five million barrels by 2030Which makes it a global product of the five best people.
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Brazilian hydrocarbon regulator data shows the National Petroleum, Natural Gas and Biofuel Agency (ANP), that in June 2025, Brazil raised 4.9 million barrels of equivalent a day. This is the largest size of the hydrocarbons that pumped Brazil at all, set a new record for the largest oil product in Latin America. The crude oil output also set a new record, reaching 3.8 million barrels per day, with a balance consisting of natural gas. This promises good for more powerful production growth and Brazilia plans to become a global product for global papers.
The key to achieving this goal is the investment made by Petrobras National Company in Brazil, which is owned by 37 % by the federal government in the capital, Brazilia. Integrated energy specialization Plan to spend 111 billion dollars Through its operations between 2025 and 2029, an increase of 9 billion dollars more than 102 billion dollars in the investment plan from 2024 to 2028. This large investment will be directed mostly towards the origin of the source, with Petrobras allocating $ 77 billion for exploration and production, more than $ 4 billion from the previous plan.
Nearly $ 8 billion of exploration and production budget will be directed from 2025 to 2029 to drilling 51 new wells, 78 % of which will be implemented in hydrocarbon ponds in Brazil. A large percentage of $ 69 billion will be spent on bringing 10 new floating storage and unloading ships (FPSO) on the Internet by the end of 2029. There are also five other FPSOs that can be added during and after 2030, with six other projects studied.
Petrobras expects this huge investment to enhance The resulting hydrocarbon runs to 4.5 million barrels of oil Daily by 2029, by approximately 10 % over 2025. This will consist of 2.5 million barrels of crude oil, with two million barrels consisting of natural gas and associated fluids. The National Oil Company believes that 80 % of its hydrocarbon production by the end of 2029 will be generated by pre -salt assets.
To support this massive investment, Petrobras focuses on developing assets that have a low price, a strategy adopted in the wake of the collapse of oil prices caused by the epidemic. In fact, the National Oil Company in Brazil claims to have a price equivalent to the low portfolio in the industry of $ 28 a barrel, even less than Super Majors Exxon and Chevron. This, in addition to the increasing demand, especially from China, for the gentle raw oils of Brazil, and the low carbon density for extraction, will ensure that Petrobras operations remain profitable even in low price environments.
Not only is Petrobras that invests heavily in the correction of oil in Brazil. The largest producer of economy and oil in Latin America attracts great attention from foreign investors, especially large oil. In fact, the deep Big Oil pockets will ensure spending on the oil industry in Brazil abroad, continuing to expand at a strong pace. It is a global Supermajor shell, which has appeared over the past decade as a major player in Brazil abroad. The South America is now about 15 % of Shell production, and Supermajor is the second largest oil producer in Brazil, responsible for approximately 11 % of crude oil production.
During late May 2025, Shell announced the first oil From the MERO-4 project in the MERO oil field located in the pre-salt area in the Santos Basin. This happened after the FPSO Alexandre de Gusmão was connected to 12 wells of the project, although the process has a capacity of 180,000 barrels of oil per day. Shell has a 19.3 % work interest in the Miro field, which is operated by Petrobras with a 38.6 % action interest. The remaining 42.1 % is kept by many energy companies, including the major oil companies that include French Supermajor, which includes 19.3 % and the state -controlled Chinese CNPC and CNOC with 9.65 % each.
Earlier this year, in March 2025, Shell revealed that she had made a final decision Invest in the GATO Do Mato project. This is the discovery of the pre -attendance located in the Brazilian Santos Basin. Shell, which has a 50 % action interest, is the operator while the Colombian National Ecopeetrol company and France rule the total summary of 30 % and 20 %, respectively. The project targets a supplier that is estimated to contain 370 million barrels that can be recovered from crude oil. GATO Do Mato Oil Fields is expected to start in 2029 with FPSO support 120,000 barrels per day.
The French Totalenergies Supermajor owns 11 of the licenses that produce oil in Brazil, four of which are operated. The company is the third largest oil producer in Brazil, as it represents nearly 4 % of oil production in South America. Totaleergies continues to invest in Brazil abroad, and it aims to explore oil pre -salt for development. As previously discussed, the latest Supermajor projects are the Mero-4 and Gato Do Mato Development field. Totalergies expects to increase oil production in Brazil to 200,000 barrels per day by the end of 2026.
Universal Supermajor storage also works in Norway in Brazil. The company is the largest oil producer in South America is a major source of production growth. Once again in June 2025, Announce Winning the SM-1617 block located in the Santo Basin during the permanent permanent privilege tour of Brazil. Equinor also provides interests in a group of oil and gas projects, which, upon completion, will enhance the Brazilian gross hydrocarbons.
According to ANP, it will attract the correction of the Brazilian oil 122 billion dollars in investment by 2029Most of them are prepared to the pre -oil fields of deep water abroad. While Petrobras will contribute to a large amount of capital, a large part of foreign energy companies will come, especially large oil. It is easy to understand the Big Oil’s attractiveness for Brazil and pre -marine salt tanks. The average tie costs for projects is estimated at less than $ 40 a barrel, as it decreased to $ 30 a barrel or less for pre -salt assets. On his head raises the oil from the external Brazil fields. He has a low carbon intensity About 15 kg of carbon dioxide? For every barrel A much lower amount of global average is 20 kg of carbon dioxide? For every barrel.
Written by Matthew Smith for OilPrice.com
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