12/20/2025•Business > Energy
- •Region lies in the Equatorial Margin, a frontier estimated to hold more than 30 billion barrels of oil, with around 10 billion barrels recoverable
- •Project follows significant offshore discoveries in Guyana and Suriname, signaling regional momentum in deep-water exploration
- •Brazil’s domestic production from existing deep-water fields off Rio de Janeiro is expected to peak and decline after 2030
- •A potential shift could see Brazil become a net oil importer by 2040, with substantial long-term revenue implications