You are here

Brazil oil output to double in 10 years – ANP director

30th January 2013

Brazil’s oil and gas output will double over the next decade, says ANP boss, allowing the export of 1.5 million boepd

Brazil oil output to double in 10 years – ANP director
The increase in oil and gas output will allow the country to export 1.5 million barrels of oil equivalent per day, according to the ANP boss

Brazil will double its oil and gas production in 10 years, the head of the country's oil, natural gas and biofuels regulator ANP said this month.

ANP boss Magda Chambriard has estimated that Brazil’s petroleum and natural gas output will double over the next decade, allowing the export of 1.5 million barrels of oil equivalent per day.

"Our expectations are very positive. Brazil has 8,000 kilometres of coast, with ample oil and gas potential from north to south,” she said.

ANP’s estimates are in tune with similar predictions from Petrobras and BG Group. However, experts have of late downplayed hopes of a sharp rise in oil and gas production, after Brazilian energy giant posted its worst quarterly loss in 13 years in Q2 2012.

In addition, despite its assurances that oil and gas production would pick up in Q4, Petrobras’ hydrocarbons production in 2012 dropped 1 per cent against the same period in 2011.