The Liza Destiny FPSO. (Source: SBM Offshore)
Latin America’s crude oil production profile will get a much needed boost from two countries on opposite ends of the energy sector development spectrum: Brazil and Guyana.
Brazil — home to the largest economy in Latin America — will continue to see growth in its production profile thanks to ongoing efforts by state-owned Petrobras, as well as a number of IOCs from Chevron Corp. to TotalEnergies focused on opportunities in the pre-salt and beyond. Approximately 21 FPSO units are expected to come online between 2023-2027, according to Petrobras, and add 2.8 MMbbl/d of new production.
Guyana — home of the region’s newest petro-state — continues to see production ramp up offshore in its prolific Stabroek Block. Two FPSO units are already online in the block and three more are currently envisioned between 2023-2027, according to Exxon Mobil and Hess Corp. The new FPSO units will add 720,000 bbl/d of new production. The small English-speaking country is on track to potentially produce over 1 MMbbl/d gross in 2027, according to estimates from the two U.S.-based companies.
Related: LatAm Outlook 2023: Brazil, Guyana Anchor Production Growth
Recommended Reading
Halliburton Secures Drilling Contract from Petrobras Offshore Brazil
2025-01-30 - Halliburton Co. said the contract expands its drilling services footprint in the presalt and post-salt areas for both development and exploration wells.
TGS to Reprocess Seismic Data in India’s Krishna-Godavari Basin
2025-01-28 - TGS will reprocess 3D seismic data, including 10,900 sq km of open acreage available in India’s upcoming 10th Open Acreage Licensing Policy (OALP) bid round blocks.
RoboTrucks Arrive in Permian Basin, Haul Proppant for Atlas Energy
2025-01-24 - Autonomous trucks developed by Kodiak Robotics delivered sand, off-road, for Atlas Energy Solutions’ Permian operations beginning in December.
Halliburton Sees Strong Adoption of New Oilfield Tech Offerings
2025-01-22 - Halliburton Co.’s Zeus e-fracs, Octiv auto-fracs and the Sensori monitoring platform are setting the stage for long-term growth, CEO Jeff Miller says.
New Era Helium, Sharon AI Cement Permian Basin Data Center JV
2025-01-21 - New Era Helium and Sharon AI have created a JV, Texas Critical Data Centers, and are working on offtake gas supply agreements and site selection.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.