Brazilian integrated energy company Petrobras has announced that it will invest $92 billion in the exploration and production area for the 2009-2013 period in Brazil alone, compared to $65.1 billion for the 2008-2012 period.
With the investments, the company estimates it will boost domestic oil production to 2.68 million barrels per day (bpd) in 2013.
Of the total earmarked to be invested in exploration and production (E&P), some $29 billion will be allocated to the Santos and Campos basin pre-salt projects alone, including the amounts set aside for the Parque das Baleias, off the coast of Espirito Santo.
The oil company projects that production in the pre-salt fields will reach 219,000bpd in 2013, growing to 1.8 million bpd in 2020, including the production of Petrobras and of its partners. The target is to reach a local content index of 53% in production unit construction, said the company.
The company produce a total of some 3.6 million barrels of oil equivalent per day (boed) in 2013, including the contribution made by its fields abroad. This volume is expected to rise to 5.1 million boe in 2020. The company has targeted a local content index of 53% in production unit construction.
