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Petrobras will be the offshore oil world leader with most investment and projects by 2025. Thirteen percent of total world investment is headed to Brazil, with US$ 90.9 B going to the oil firm

09/08/2016

GlobalData says Petrobras will be the offshore oil world leader with most investment and projects by 2025. Thirteen percent of total world investment is headed to Brazil, with US$ 90.9 B going to the oil firm

[08.08.2016] 18h30m / By Gabriela Medeiros


Brazil’s offshore oil fields will receive US$ 116.2 billion in investments between 2016 and 2025, London-based consultants GlobalData have predicted. This is about 13% of the total US$ 871.7 billion that will be invested globally in the next nine years. Petrobras will get the lion’s share of the investment with US$ 91 billion.

The consulting firm believes Brazil will be the offshore oil industry leader, with the largest number of projects planned to start production by 2025. Of the 236 projects scheduled to begin development over the next nine years, 40 are in Brazil, 29 are in the UK and 21 in the U.S.

Brazil’s commercial grade offshore reserves trail only those of Russia, Iran and Mozambique, said Matthew Jurecky, head of the oil and gas research and consulting department for GlobalData.

Projects scheduled to go into production in Brazil have a total of 13.3 billion boe of recoverable reserves. As a basis of comparison, the sum of the projects that will start production in Norway, the United States, the United Kingdom and Nigeria in the same period is 12.9 billion boe in recoverable reserves.

Between 2016 and 2025 the Iranian State-owned National Iranian Oil Company (due to the sanctions lift) is expected to have the largest growth in production, but Petrobras will have the largest number of projects beginning production. The company predicts that 35 areas will be producing first oil during the period, and 34 will have both on oil and gas.

After that comes Pemex, which will put nine areas in production during the period, and Chevron, which will have eight projects going into production.

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Petrobras will be the offshore oil world leader with most investment and projects by 2025. Thirteen percent of total world investment is headed to Brazil, with US$ 90.9 B going to the oil firm

09/08/2016

GlobalData says Petrobras will be the offshore oil world leader with most...