Brazil’s oil production has seemingly found its groove, with Rystad Energy expecting the country to be a sizable contributor to non-OPEC, non-US growth throughout the 2020s. Seven new FPSO projects have come under the spotlight, beginning at a somewhat sluggish pace last year, ramping up and reaching an average daily output of about 660,000 bpd in August. Rystad Energy estimates that the corresponding collective tally for 2019, with further ramp-up on the three FPSOs started in 2019 coupled with one more unit to come on stream in December, will average about 510,000 bpd.
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Rystad Energy is an independent energy research and business intelligence company providing data, tools, analytics and consultancy services to the global energy industry. Our products and services cover energy fundamentals and the global and regional upstream, oilfield services and renewable energy industries, tailored to analysts, managers and executives alike. Rystad Energy’s headquarters are located in Oslo, Norway with offices in London, New York, Houston, Aberdeen, Stavanger, Moscow, Rio de Janeiro, Singapore, Bangalore, Tokyo, Sydney and Dubai.