Press Esc to close



For full content view: Log in Now!

  • Regional Report - Latin America: Latin America presents severe contrasts with discoveries in Brazil and Colombia attracting investment, but Venezuela and Argentina looking inward due to nationalism. Cuba has opened licensing to the West, but Falklands exploration activity fuels political tension.

    Dayse Abrantes

    Despite the fact that Brazil’s oil reserves are second to those of Venezuela, a member of OPEC, there is no doubt that Brazil is the shining star of Latin America’s petroleum sector. Brazil’s massive pre-salt discoveries, estimated at 50 billion to 100 billion bbl, are catapulting this country from its current 11th rank to become one of the top five oil producers within a decade. Today, Brazil has the world’s largest number of offshore drilling rigs. According to Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP), there were 337 offshore and onshore drilling rigs in Brazil in 2011. By December 2011, 112 drilling projects were in progress, 76 completed, and 20 were under evaluation. In 2020, Petrobras expects to have 65 drilling rigs for water depths greater than 6,500 ft, said ANP.

This area of the site is restricted. In order to gain access, please either Log In, or subscribe to World Oil.

Two options are available to you for creating an account.

1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.

Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.

Free Trial

2. Purchase a subscription to World Oil magazine and gain immediate and complete access to World Oil Online. As a Total Access subscriber you will have access to all areas of the site available to registered users and free subscribers as well as having access to such premium content areas as:

  • The Archives section containing over ten years of complete magazine archives,
  • The WO DataHub's engineering tables and directories,
  • The World Oil annual forecasts, including past predictions,
  • Select World Oil technical handbooks,
  • And much, much more!


Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.

If you are already a paid subscriber and do not have access, please email



Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.


2013 Fracturing Technology

2013 Fracturing Technology