Pre-salt production has boomed over the past year
Brazilian upstream enjoys bumper year
Soaring pre-salt production sees Latin America’s largest country pull away from the local competition
This year is proving busy for Brazil’s upstream oil and gas sector. Barely eight months in and production has already surpassed 4.3m boe/d, boosted by several new FPSO vessels operating in the pre-salt sector. Pre-salt output has surged by 17.5% over the past year and accounts for c.75% of Brazil’s entire oil and gas total. In just three years, production from the offshore region has grown by 572,000boe/d and should see at least another 160,000boe/d of maximum FPSO capacity added before the end of 2023. State oil and gas firm Petrobras has led the charge for pre-salt production growth in recent years and notched up another important milestone in Q2 with two FPSOs reaching startup. The Anna
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