Boom times for offshore Brazil ///

Brazil is implementing an ambitious plan for 2013–16, to improve the efficiency of its Campos basin fields and begin production from its massive pre-salt finds in the Santos basin. The domestic production target for oil, liquids and natural gas by 2016 is 3 MMboed. Over this time period, the exploration and production segment in Brazil will require an investment of $131.6 billion, of which 69% will be allocated for production development, 19% for exploration and 12% for infrastructure. Investment in the pre-salt cluster will account for 51% of total E&P investment.

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