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Brazil could enter a new oil era and enhance its relevance in the global energy market
A study released by Abespetro revealed that Brazil has the potential to raise its proven oil reserves from 17 billion to 23.5 billion barrels in the coming years.
The growth heavily relies on exploring new oil frontiers, such as the Equatorial Margin in the north and the Pelotas Basin in the south. The sector estimates that investments exceeding US$ 30 billion per year will be needed to turn this potential into actual production.
The data that stood out the most was another: between 2018 and 2024, Brazil hasn't made any moves in areas considered new frontiers. Meanwhile, countries like Guyana, Suriname, and Norway have rapidly advanced in new discoveries and reserve expansions.
The growth heavily relies on exploring new oil frontiers, such as the Equatorial Margin in the north and the Pelotas Basin in the south. The sector estimates that investments exceeding US$ 30 billion per year will be needed to turn this potential into actual production.
The data that stood out the most was another: between 2018 and 2024, Brazil hasn't made any moves in areas considered new frontiers. Meanwhile, countries like Guyana, Suriname, and Norway have rapidly advanced in new discoveries and reserve expansions.
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