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.
Rystad Energy said 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.
The Norway-based energy research and business intelligence company 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.
