National Petroleum Agency Predicts That By 2025, Oil Production Will Reach 3.6 Million Barrels Per Day

Written by Roberta Souza

Published on 13/01/2021 at 13:57

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The ANP’s Projection Indicates That Oil Production May Increase by 23% and Natural Gas May Experience a 34% Increase

The ANP – National Agency of Petroleum, Natural Gas and Biofuels, made a projection that forecasts oil production to gradually increase in the coming years, reaching 571.5 thousand cubic meters per day – 3.6 million barrels per day and natural gas to reach 173.2 million cubic meters per day.

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The increase in the respective fossil fuels may reach 23% and 34%. This year of 2021, it is expected that oil production will reach 463.96 million cubic meters/day – 2.9 million barrels/day, and natural gas at 12.917 million cubic meters/day.

The forecast is that Petrobras and other major oil companies will produce in the pre-salt area. New platforms may come online, mainly in the Mero and Búzios fields. According to the ANP, from this year until 2023, the country will install eight more.

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The majority of the investment from oil companies will go to drilling, although it is expected to decrease in the coming years. In 2021, the investment will be 12.5 billion reais, in 2022 it will rise to 12.77 billion reais, and it will decline until 2025, reaching 4.68 billion reais.

On the other hand, the fastest-growing area is the decommissioning of oil fields, which may be due to Petrobras’s decision to leave a smaller area, as the company believes it is not suitable for its production conditions.

By 2025, the total investment in this area will increase from 5 billion reais to 5.7 billion reais. According to the ANP, almost all of this money will be spent on offshore oil fields.

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